Branko Milanovic — On growth and people: my reply to Kate Raworth's reply

If you are following this debate.

Let me focus on two most important issues on which Kate Raworth and I differ.

(My original review of Kate Raworth's very good and challengingDoughnut Economics can be found here; Kate’s response is given here.)

Global Inequality
On growth and people: my reply to Kate Raworth's replyBranko Milanovic | Visiting Presidential Professor at City University of New York Graduate Center and senior scholar at the Luxembourg Income Study (LIS), and formerly lead economist in the World Bank's research department and senior associate at Carnegie Endowment for International Peace

See also

Evonomics
What Is the Role of Morality in a Capitalist Economy?
Peter Turchin | Professor in the Department of Ecology and Evolutionary Biology at the University of Connecticut, Research Associate in the School of Anthropology, University of Oxford, and Vice-President of the Evolution Institute

Common Creams
As Interest in Democratic Socialism Surges, Ocasio-Cortez Explains to Colbert What a 'Moral' Economy Would Look Like
Jake Johnson, staff writer

Brad Voracek — Doughnut Economics – Grab a pencil, draw a doughnut!

Many of us know we need to rethink economics, but Kate Raworth actually did it.|Envisioning the economy as a doughnut, two boundaries become clear. If we fall into the doughnut’s middle hole, human needs fail to be met. If we drop off of the outer edge, life is unsustainable.

You should always be weary of people who seek to get the “first lick” on a young impressionable brain. Paul Samuelson knew that by writing a successful economics textbook, he could influence how students frame the economy, and thus the world. From the 50’s to the 70’s, his textbook was the most widely used in introductory economics courses.

Today, that role has been given to Gregory Mankiw’s “Macroeconomics” (see the Open Syllabus Project). Both view the economy in the same narrow way, with the same simple pictures that don’t seem useful today. Raworth’s Doughnut Economics breaches the pattern and envisions a new economics, for a new generation with clearly defined challenges and scant tools to solve them....

The Minskys
Doughnut Economics – Grab a pencil, draw a doughnut!
Brad Voracek

See also

Evonomics
Seven Ways to Transform 21st-Century Economics — and Economists

Kate Raworth | senior visiting research associate at Oxford University’s Environmental Change Institute and a senior associate of the Cambridge Institute for Sustainability Leadership

The Next System

A New Cooperative Economy
By Guy Dauncey