Question

Based on what you have learned so far about Doughnut Economics. Do you think the principles can be adopted in time to avoid significant problems and even catastrophe for humanity? Why or why not? If so there is time, how may the adoption might unfold over the next two decades?

Answer 1

Doughnut economics is an economic model which attempts to measure the extent upto which the needs of people can be fulfilled without overshooting the earths ecological ceiling.

This economic model can help to avoid significant problems that we face today and human catastrophe like water crisis, damage to agricultural products due to environmental changes leading to food crisis, pollution that hampers the health of people etc.

All the other economic models that exist today failed to address the ecological crisis.

On contrary this model measure the overshoot in terms of ozone layer depletion, ocean acidification, chemical pollution, biodiversity loss, air pollution etc.

Alongwith it, it also seeks to reduce inequality in wealth and income.

Accordingly, the aim of economic activity should be to meet the needs of all within the means of planet. Our progress should be measured in terms of how well we have conserved our planet in combination with good economic growth. Rather than the speed that degrade our long term prospects. Because once the ecological balance in completely destroyed, there is no going back. Humans will also cease ro exist with destruction of environment.

The adoption of this model should be unfolded with participation of other nations as well. There should be a combined effort to reduce this imbalance as nature is not limited to a single nation.

In initial stage the severity of environment on different places and the development level and economic conditions of society should be measured.

In later stages a well planned structure should be constructed for implementation of this model.

As in coming years the rate of environmental degradation is gathering pace, water shortage ,and food shortage is going to be rampant.

This model should be implemented as a priority.