Doughnut economics in a municipal context

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Nanaimo is looking at how to make people more aware of doughnut economics, a framework council adopted back in 2020.

An update on the topic was on the agenda at a governance and priorities committee meeting Monday.

Doughnut economics is a way of visualizing the economy that takes into account society’s needs and our ecological capacity.

It was first presented in 2012 by British economist Kate Raworth, who later wrote a 2017 bestseller on the concept.

On the inside wall of the doughnut are society's needs - things like food, housing, income, health, and political voice.

Outside of the doughnut is our ecological ceiling, separated into nine categories like air pollution, ocean acidification, and biodiversity loss.

If the economy is functioning as it should, we are in the doughnut - everyone’s needs are being met, but we aren’t blasting past our ecological ceiling.

Raworth contrasts that with what she describes as 20th century economic thinking, which she writes in the book has been fixated on growing GDP as the measure of progress.

Midcoast Morning explores what doughnut economics could mean in practice to Nanaimo

Transcript:

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Guests:

  • Colin Stansfield - CEO - Nanaimo Prosperity Corporation

  • Mia Maki - Associate Dean, External & Outreach, Gustavson School of Business, University of Victoria

  • Leonard Krog - Mayor, City of Nanaimo

Program Team:

  • Joe Pugh — Host and Producer.

  • Jesse Woodward — Executive Producer.

  • Arbie Fru — Technical Assistance.

Theme Music:

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Joe Pugh