Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist

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Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist Page 31

by Kate Raworth


  45. Goodman, P. (2008) ‘Taking a hard new look at Greenspan legacy’, New York Times, 8 October 2008. http://www.nytimes.com/2008/10/09/business/economy/09greenspan.html?pagewanted=all

  46. Raworth, K. (2002) Trading Away Our Rights: women workers in global supply chains. Oxford: Oxfam International.

  47. Chang, H-J. (2010) 23 Things They Don’t Tell You About Capitalism, London: Allen Lane.

  48. Ferguson, T. (1995) Golden Rule: The Investment Theory of Party Competition and the Logic of Money-Driven Political Systems. London: University of Chicago Press, p. 8.

  49. BBC News 2 April 2014. ‘US Supreme Court strikes down overall donor limits’. http://www.bbc.co.uk/news/world-us-canada-26855657

  50. Hernandez, J. (2015) ‘The new global corporate law’, in The State of Power 2015. Amsterdam: The Transnational Institute. https://www.tni.org/files/download/tni_state-of-power-2015.pdf

  3. Nurture Human Nature

  1. Morgan, M. (2012) The World in the Model. Cambridge: Cambridge University Press, pp. 157–167.

  2. Smith, A. (1776) An Inquiry into the Nature and Causes of the Wealth of Nations, Book 1, Chapters 2.1 and 2.2. Reprint edn 1994, New York: Modern Library.

  3. Smith, A. (1759) The Theory of Moral Sentiments, Part I, Section 1, Chapter 1, available at http://www.econlib.org/library/Smith/smMS.html

  4. Mill, J.S. (1844) Essays on Some Unsettled Questions of Political Economy, V.38 and V.46, www.econlib.org/library/Mill/mlUQP5.html#Essay V. ‘On the Definition of Political Economy’.

  5. Devas, C.S. (1883) Groundwork of Economics, Longmans, Green and Company, pp. 27 and 43.

  6. Jevons, W.S. (1871) The Theory of Political Economy (III.47). http://www.econlib.org/library/YPDBooks/Jevons/jvnPE.html

  7. Morgan, M. (2012) The World in the Model. Cambridge: Cambridge University Press, pp. 145–147.

  8. Marshall, A. (1890) Principles of Economics, Book 3, Chapter 2.1. http://files.libertyfund.org/files/1676/Marshall_0197_EBk_v6.0.pdf

  9. Knight, F. (1999) Selected Essays by Frank H. Knight, Volume 2. Chicago: University of Chicago Press, p. 18.

  10. Friedman, M. (1966) Essays in Positive Economics. Chicago: University of Chicago Press, p. 40.

  11. Morgan, M. (2012) The World in the Model. Cambridge: Cambridge University Press, p. 157.

  12. Frank, B. and Schulze, G.G. (2000) ‘Does economics make citizens corrupt?’ Journal of Economic Behavior and Organization 43, pp. 101–113.

  13. Frank, R., Gilovich, T. and Regan, D. (1993) ‘Does studying economics inhibit cooperation?’ Journal of Economic Perspectives 7: 2 (pp. 159–171) and Wang, L., Malhotra, D. and Murnighan, K. (2011) ‘Economics Education and GreedAcademy of Management Learning and Education, 10: 4, pp. 643–660.

  14. Frank, R., Gilovich, T. and Regan, T. (1993) ‘Does studying economics inhibit cooperation?’ Journal of Economic Perspectives 7: 2, pp. 159–171.

  15. Frank, R. 1988. Passions within Reason. New York: W.W. Norton, p. xi.

  16. MacKenzie, D. and Millo, Y. (2003) ‘Constructing a market, performing theory: the historical sociology of a financial derivatives exchange’, American Journal of Sociology 109: 1, cited in Ferraro, F., Pfeffer, J. and Sutton, R. (2005) ‘Economics language and assumptions: how theories can become self-fulfilling’, Academy of Management Review 30: 1, pp. 8–24.

  17. Molinsky, A., Grant, A. and Margolis, J. (2012) ‘The bedside manner of homo economicus: how and why priming an economic schema reduces compassion’, Organizational Behavior and Human Decision Processes 119: 1, pp. 27–37.

  18. Bauer, M. et al. (2012) ‘Cuing consumerism: situational materialism undermines personal and social well-being’, Psychological Science 23, pp. 517–523.

  19. Shrubsole, G. (2012) ‘Consumers outstrip citizens in the British media’, Open Democracy UK, 5 March 2012.

  20. Lewis, J. et al. (2005) Citizens or Consumers? What the Media Tell Us About Political Participation, cited in Shrubsole, G. (2012) ‘Consumers outstrip citizens in the British media’, Open Democracy UK, 5 March 2012.

  21. Henrich, J., Heine, S. and Norenzayan, A. (2010) ‘The weirdest people in the world?’, Behavioural and Brain Sciences 33: 2/3, pp. 61–83.

  22. Jensen, K., Vaish, A. and Schmidt, M. (2014) ‘The emergence of human prosociality: aligning with others through feelings, concerns, and norms’, Frontiers in Psychology 5, p. 822. http://journal.frontiersin.org/article/10.3389/fpsyg.2014.00822/full

  23. Bowles, S. and Gintis, H. (2011) A Cooperative Species: Human Reciprocity and Its Evolution. Princeton, NJ: Princeton University Press, p. 20.

  24. Helbing, D. (2013) ‘Economics 2.0: the natural step towards a self-regulating, participatory market society’, Evolutionary and Institutional Economics Review, 10: 1, pp. 3–41.

  25. Kagel, J. and Roth, A. (1995) The Handbook of Experimental Economics, Princeton, NJ: Princeton University Press pp. 253–348, cited in Beinhocker, E. (2007) The Origin of Wealth, London: Random House, p. 120.

  26. Henrich, J. et al. (2001) ‘In search of Homo Economicus: behavioral experiments in 15 small-scale societies’, Economics and Social Behavior, 91: 2, pp. 73–78.

  27. Bernays, E. (2005) Propaganda, New York: Ig Publishing, pp. 37–38.

  28. Edward L. Bernays video interview on the Beech-Nut Packing Co., available at https://www.youtube.com/watch?v=6vFz_FgGvJI, and on ‘Torches of Freedom’, available at: https://www.youtube.com/watch?v=6pyyP2chM8k

  29. Ryan, R. and Deci, E. (1999) ‘Intrinsic and extrinsic motivations: classic definitions and new directions’, Contemporary Educational Psychology 25, pp. 54–67.

  30. Schwartz, S. (1994) ‘Are there universal aspects in the structure and content of human values?’, Journal of Social Issues 50: 4, pp.19–45.

  31. Veblen, T. (1898) ‘Why is economics not an evolutionary science?’, Quarterly Journal of Economics 12: 4, pp. 373–397.

  32. Salganik, M., Sheridan Dodds, P. and Watts, D. (2006) ‘Experimental study of inequality and unpredictability in an Artificial Cultural Market’, Science 311, p. 854.

  33. Ormerod, P. (2012) ‘Networks and the need for a new approach to policymaking’, in Dolphin, T. and Nash, D. (eds), Complex New World, London: IPPR, pp. 28–29.

  34. Stiglitz, J. (2011) ‘Of the 1%, for the 1%, by the 1%’, Vanity Fair May. http://www.vanityfair.com/news/2011/05/top-one-percent-201105

  35. Ormerod, P. (2012), ‘Networks and the need for a new approach to policymaking’, in Dolphin, T. and Nash, D. (eds), Complex New World. London: IPPR, p. 30.

  36. Wikipedia (2016) List of Cognitive Biases. https://en.wikipedia.org/wiki/List_of_cognitive_biases

  37. Thaler, R. and Sunstein, C. (2009) Nudge: Improving Decisions About Health, Wealth and Happiness. London: Penguin, p. 6.

  38. Marewzki, J. and Gigerenzer, G. (2012), ‘Heuristic decision making in medicine’, Dialogues in Clinical Neuroscience, 14: 1, pp. 77–89.

  39. The Economist (2014) Q&A: Gerd Gigerenezer 28 May 2014. http://www.economist.com/blogs/prospero/2014/05/qa-gerd-gigerenzer

  40. Bacon, F. (1620) Novum Organon, CXXIX, available at: http://www.constitution.org/bacon/nov_org.htm

  41. Leopold, A. (1989) A Sand County Almanac. New York: Oxford University Press, p. 204.

  42. Scharmer, O. (2013) ‘From ego-system to eco-system economies’, Open Democracy, 23 September 2013. https://www.opendemocracy.net/transformation/otto-scharmer/from-ego-system-to-eco-system-economies

  43. Henrich, J., Heine, S. and Norenzayan, A. (2010) ‘The weirdest people in the world?’, Behavioural and Brain Sciences 33: 2/3, pp. 61–83.

  44. Arendt, H. (1973) Origins of Totalitarianism. New York: Harcourt Brace Jovanovich, p. 287.

  45. Fall 2005 Commencement Address by Chief Oren Lyons, Berkeley College of Natural Resources, 22 May 2005, available at: https://nature.berkeley.edu/news/2005/05/fall-2005-commencement-address-chief-oren-lyons

  46. Eisenstein, C. (2011) Sacred Economics: Money, Gift and Society in the Age of Transition.
Berkeley: Evolver Books, p. 159.

  47. Jo Cox, Maiden speech in Parliament, 3 June 2015, Parliament TV, available at: www.theguardian.com/politics/video/2016/jun/16/labour-mp-jo-cox-maiden-speech-parliament-video

  48. Winter, C. (2014) ‘Germany reaches new levels of greendom, gets 31 percent of its electricity from renewables’, Newsweek 14 August 2014. http://www.bloomberg.com/news/articles/2014-08-14/germany-reaches-new-levels-of-greendom-gets-31-percent-of-its-electricity-from-renewables

  49. Titmuss, R. (1971) The Gift Relationship: From Human Blood to Social Policy. New York: Pantheon Books.

  50. Barrera–Osorio, F. et al. (2011) ‘Improving the design of conditional transfer programs: evidence from a randomized education experiment in Colombia’, American Economic Journal: Applied Economics, 3: 2, pp. 167–195.

  51. Sandel, M. (2012) What Money Can’t Buy: The Moral Limits of Markets. London: Allen Lane.

  52. Gneezy, U. and Rustichini, A. (2000) ‘A fine is a price’, Journal of Legal Studies, 29, pp. 1–17.

  53. Sandel, M. (2012) What Money Can’t Buy: The Moral Limits of Markets. London: Allen Lane.

  54. Bauer, M. et al. (2012) ‘Cueing consumerism: situational materialism undermines personal and social well-being’, Psychological Science 23: 517.

  55. Kerr, J. et al. (2012) ‘Prosocial behavior and incentives: evidence from field experiments in rural Mexico and Tanzania’, Ecological Economics 73, pp. 220–227.

  56. García-Amado, L.R., Ruiz Pérez, M. and Barrasa García, S. (2013) ‘Motivation for conservation: assessing integrated conservation and development projects and payments for environmental services in La Sepultura Biosphere Reserve, Chiapas, Mexico’, Ecological Economics 89, pp. 92–100.

  57. Rode, J., Gómez-Baggethun, E. and Krause, T. (2015), ‘Motivation crowding by economic incentives in conservation policy: a review of the empirical evidence’, Ecological Economics 117, pp. 270–282.

  58. Wald, D., et al. (2014) ‘Randomized trial of text messaging on adherence to cardiovascular preventive treatment, Plos ONE 9, p. 12.

  59. Pop-Eleches, C. et al. (2011) ‘Mobile phone technologies improve adherence to antiretroviral treatment in resource-limited settings: a randomized controlled trial of text message reminders’, AIDS 25: 6, pp. 825–834.

  60. iNudgeyou (2012) ‘Green nudge: nudging litter into the bin’, 16 February 2012 http://inudgeyou.com/archives/819 and Webster, G. (2012) ‘Is a “nudge” in the right direction all we need to be greener?’, CNN 15 February 2012. http://edition.cnn.com/2012/02/08/tech/innovation/green-nudge-environment-persuasion/index.html

  61. Ayers, J. et al. (2013) ‘Do celebrity cancer diagnoses promote primary cancer prevention?’, Preventive Medicine 58: pp. 81–84.

  62. Beaman, L. et al. (2012) ‘Female leadership raises aspirations and educations attainment for girls: a policy experiment in India’, Science 335: 6068, pp. 582–586.

  63. Bolderdijk, J. et al. (2012) ‘Comparing the effectiveness of monetary versus moral motives in environmental campaigning’, Nature Climate Change, 3, pp. 413–416.

  64. Bjorkman, M. and Svensson, J. (2009) ‘Power to the people: evidence from a randomized field experiment on community-based monitoring in Uganda’, Quarterly Journal of Economics 124:2, pp. 735–769.

  65. Crompton, T. and Kasser, T. (2009) Meeting Environmental Challenges: The Role of Human Identity. Godalming, Surrey: WWF. http://assets.wwf.org.uk/downloads/meeting_environmental_challenges___the_role_of_human_identity.pdf

  66. Montgomery, S. (2015) The Soul of an Octopus. London: Simon & Schuster.

  4. Get Savvy with Systems

  1. Jevons, S. (1871) The Theory of Political Economy (vii), http://www.econlib.org/library/YPDBooks/Jevons/jvnPE.html

  2. Walras, L. (1874, 2013) Elements of Pure Economics. London: Routledge, p. 86.

  3. Jevons, W. S. (1871) The Theory of Political Economy (1.17), available at http://www.econlib.org/library/YPDBooks/Jevons/jvnPE

  4. Arrow, K. and Debreu, G. (1954) ‘Existence of an equilibrium for a competitive economy’, Econometrica 22, pp. 265–290.

  5. Keen, S. (2011) Debunking Economics. London: Zed Books, pp. 56–63.

  6. Solow, R. (2003) ‘Dumb and Dumber in Macroeconomics’. Speech given in honour of Joseph Stiglitz’s 60th birthday, available at http://textlab.io/doc/927882/dumb-and-dumber-in-macroeconomics-robert-m.-solow-so

  7. Solow, R. (2008) ‘The state of macroeconomics’, Journal of Economic Perspectives 22: 1, pp. 243–249.

  8. Weaver, W. (1948) ‘Science and complexity’, American Scientist 36, p. 536.

  9. Colander, D. (2000) ‘New millennium economics: how did it get this way, and what way is it?’, Journal of Economic Perspectives 14: 1, pp. 121–132.

  10. Sterman, J. D. (2000) Business Dynamics: Systems Thinking and Modeling for a Complex World. New York: McGraw-Hill, pp. 13-14.

  11. Gal, O. (2012) ‘Understanding global ruptures: a complexity perspective on the emerging middle crisis’, in Dolphin, T. and Nash, D. (eds), Complex New World. London: IPPR, p. 156.

  12. Meadows, D. (2008) Thinking In Systems: A Primer. White River Junction, VT: Chelsea Green, p. 181.

  13. Keen, S. (2011) Debunking Economics. London: Zed Books, p. 184.

  14. Marx, K. (1867) Capital, Vol. I, Chapter 25, Section 1, available at http://www.econlib.org/library/YPDBooks/Marx/mrxCpA.html

  15. Veblen, T. (1898), ‘Why is economics not an evolutionary science?’ Quarterly Journal of Economics, 12: 4 (pp. 373–397; at p. 373.

  16. Marshall, A. (1890) Principles of Economics. London: Macmillan, available at http://www.econlib.org/library/Marshall/marP.html

  17. Keynes, J.M. (1923) A Tract on Monetary Reform, p. 80, in The Collected Writings of John Maynard Keynes, Vol. IV, 1977 edn. London: Palgrave Macmillan.

  18. Schumpeter, J. (1942) Capitalism, Socialism and Democracy. New York: Harper & Row.

  19. Robinson, J. (1962) Essays in the Theory of Economic Growth. London: Macmillan, p. 25.

  20. Hayek, F. (1974) ‘The Pretence of Knowledge’. Lecture to the memory of Alfred Nobel, 11 December 1974, available at http://www.nobelprize.org/nobel_prizes/economic-sciences/laureates/1974/hayek-lecture.html

  21. Daly, H. (1992) Steady State Economics. London: Earthscan, p. 88.

  22. Sterman, J. D. (2012) ‘Sustaining sustainability: creating a systems science in a fragmented academy and polarized world’, in Weinstein, M.P. and Turner, R.E. (eds), Sustainability Science: The Emerging Paradigm and the Urban Environment. New York: Springer Science, p. 24.

  23. Soros, G. (2009) ‘Soros: a general theory of reflexivity’, Financial Times, 26 October 2009. http://www.ft.com/cms/s/2/0ca06172-bfe9-11de-aed2-00144feab49a.html#axzz3dtwpK5o2

  24. Holodny, E. (2016) ‘Isaac Newton was a genius but even he lost millions in the stock market’, 20 January 2016, Businessinsider.com, available at http://uk.businessinsider.com/isaac-newton-lost-a-fortune-on-englands-hottest-stock-2016-1?r=US&IR=T

  25. Keen, S. Rethinking Economics Kingston 2014, 19 November 2014. https://www.youtube.com/watch?v=dR_75cdCujI

  26. Brown, G. (1999), Speech to the Labour Party Conference, 27 September 1999. http://news.bbc.co.uk/1/hi/uk_politics/458871.stm

  27. Bernanke, B. (2004) ‘The Great Moderation’. Remarks at the meeting of the Eastern Economic Association, Washington, DC, 20 February 2004. http://www.federalreserve.gov/boarddocs/speeches/2004/20040220/

  28. Minsky, H. (1977) ‘The Financial Instability Hypothesis: an interpretation of Keynes and an alternative to Standard Theory’, Challenge, March–April 1977, pp. 20–27.

  29. Haldane, A. (2009) ‘Rethinking the Financial Network’. Speech given at the Financial Student Association, Amsterdam, 28 April 2009. http://www.bankofengland.co.uk/archive/Documents/historicpubs/speeches/2009/speech386.pdf

  30. Brown, G. (2011) Speech made at the Institute for New Economic Thinking, Bretton Woods, New Hampshire, 11 April 2011. http://www.bbc.co.uk/news/business-13032013

&nb
sp; 31. Personal communication with Steve Keen, 3 October 2015.

  32. Sraffa, P. (1926) ‘The laws of returns under competitive conditions’, Economic Journal 36, p. 144.

  33. Murphy, S., Burch, D. and Clapp, J. (2012) Cereal Secrets: the world’s largest grain traders and global agriculture. Oxfam Research Reports, Oxford: Oxfam International, available at:. https://www.oxfam.org/sites/www.oxfam.org/files/rr-cereal-secrets-grain-traders-agriculture-30082012-en.pdf

  34. Protess, B. (2011) ‘4 Wall Street banks still dominate derivatives trade’, New York Times 22 March 2011. http://dealbook.nytimes.com/2011/03/22/4-wall-st-banks-still-dominate-derivatives-trade/

  35. Pilon, M. (2015) ‘Monopoly’s Inventor: the progressive who didn’t pass Go’, New York Times, 13 February 2015, available at: http://www.nytimes.com/2015/02/15/business/behind-monopoly-an-inventor-who-didnt-pass-go.html

  36. Epstein, J. and Axtell, R. (1996) Growing Artificial Societies. Washington, DC: Brookings Institution Press; Cambridge, MA: MIT Press.

  37. Beinhocker, E. (2007) The Origin of Wealth. London: Random House, p. 86.

  38. Milanovic, B. (2014) http://www.lisdatacenter.org/wp-content/uploads/Milanovic-slides.pdf

  39. Kunzig, R. (2009) The Big Idea: The Carbon Bathtub. National Geographic, December 2009. http://ngm.nationalgeographic.com/big-idea/05/carbon-bath

  40. Sterman, J. D. (2010) ‘A Banquet of Consequences’. Presentation at MIT System Design and Management Conference, 21 October 2010. www.youtube.com/watch?v=yMNElsUDHXA

  41. Sterman, J. D. (2010) ‘A Banquet of Consequences’. Presentation at MIT System Design and Management Conference, 21 October 2010. www.youtube.com/watch?v=yMNElsUDHXA

  42. Diamond, J. (2003) ‘Why Do Societies Collapse?’ TED Talk, February 2003, available at: https://www.ted.com/talks/jared_diamond_on_why_societies_collapse?language=en

  43. Diamond, J. (2005) Collapse: How Societies Choose to Fail or Survive. London: Penguin.

  44. Meadows, D. et al. (1972) The Limits to Growth. New York: Universe Books, and Meadows, D. et al. (2005) Limits to Growth: The 30-Year Update. London: Earthscan.

 

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