Explainer
Economics
Culture
6 min read

How to pick an economic approach that really adds up

Assessing doughnut economics, Paul Williams asks what’s the economy for and who does it really serve?

Paul Williams, the CEO of Bible Society, worked for over a decade in business in London and then as an academic theologian in Canada.

a round table with empty chairs is seen from above. An orange is the only item on it.
Meina Yin on Unsplash.

“Anyone can see that our economic system is broken.”

This is the conclusion of Kate Raworth, author of Doughnut Economics, and her assessment has garnered positive endorsements from figures as diverse as George Monbiot, Andrew Marr and Sir David Attenborough. 

Yet to judge by the discussion surrounding the Chancellor’s Autumn Statement, our political class is not included in this broad perspective that Raworth claims. In what is widely understood as the early skirmishes of an election campaign, anticipating the moment when the country’s voters have another opportunity to indicate the direction of travel they hope for, the focus is on who will be better or worse off by this or that tax cut or benefit change. If anything is broken it is not the economic system but something like ‘the government’s economic management’ (Labour) or ‘public sector productivity’ (Conservative).  

If you are worried, as Raworth is, by “relentless financial crises,” “extreme inequalities in wealth” and “remorseless pressure on the environment” then it seems that both the government and the opposition believe that the solution is more economic growth, albeit with some barely discernible differences in fiscal and regulatory policy. 

Our contemporary political discourse is dominated, regardless of party, by the mainstream economic paradigm in which the market generates economic growth and the state functions to keep things on track by taxing and redistributing some of the surplus to those who for whatever reason didn’t do as well as others in the process. It also provides some additional incentives to business and other organisations to act in the public interest, for instance by subsidising green energy or taxing fossil fuels. Both parties, it seems, support this approach. The difference between them concerns how best the state manages the economy to get the most out of it, how the resulting surplus is distributed, and what kind of further incentives are needed. 

Visualising doughnut economics

An economics diagram in the shape of a doughnut.
Source: Doughnut Economics Action Lab.

For Raworth, on the other hand, the first thing to ditch is the assumption that economic growth is the right goal to pursue. The ‘doughnut’ of doughnut economics is an alternative to GDP as a measure of progress. It name is derived from the visual depiction of the idea of an economy that operates in the space within two limits – ensuring the human rights of each person on the one hand, and staying within the means of the planet on the other. This concept refuses to conceptualise the economy as a closed system in distinction from the social and environmental systems on which it depends.  

Raworth also wants to shift the emphasis away from the individual rational chooser of economic theory toward a more social understanding of human flourishing. And in direct contrast to the mainstream paradigm sketched above, in which the market’s job is to deliver economic wealth and the state’s job is to worry about distribution and regulation, Raworth wants an economic system designed from the outset to ensure a more equal distribution and to actively regenerate the environment. 

The economic system itself is like an engine that can be put to whatever purpose you want. It generates wealth and wealth can be put to all kinds of uses, good or bad. 

How might we evaluate this? Nobody disagrees that financial crises, extreme inequality and environmental damage occur and are bad. A good number of mainstream economists find Raworth’s aims laudable and worth pursuing, because we do need a better measure of success and improved models of human behaviour and ways to incorporate and limit externalities like carbon emissions. Yet they also find her analysis of economics a caricature, as many of the developments in economics over the last few decades seem to be ignored. 

For her harshest critics, Raworth fails to give due credit to our current economic system for the incredible reduction in global poverty that it has already enabled, provides very little by way of actionable policy ideas, and is full of erudite but wishful thinking. 

Yet the popularity of Doughnut Economics reflects a deep sense amongst many of us (some mainstream economists included) that something is seriously wrong, alongside an instinctive identification with the kind of values and changes that Raworth seeks. 

 The vital question is: what is our economy for? If we can get a better sense of what purpose we want the economy to serve, it may prove easier to identify whether it is achieving that, or is in some sense ‘broken.’  

But to ask this question is immediately to step away from the mainstream paradigm that dominates our public discourse in framing the economy. For mainstream economics, questions of purpose are ethical questions and those questions are explicitly left to the actors within the economic system and the state acting on their behalf. The economic system itself is like an engine that can be put to whatever purpose you want. It generates wealth and wealth can be put to all kinds of uses, good or bad. 

These ancient texts suggest that our mainstream paradigm is seriously adrift if it imagines that our economic system is morally neutral.

For many people the idea that the economy itself can be separated from ethical questions will automatically raise an alarm. Certainly, for Christians it ought to. The Bible firmly resists the idea that wealth and its generation is morally neutral. Even the most superficial reading of the Scripture alerts to the inherently spiritual and moral quality of economic activity. Fruitful work is part of what it means to be made in the image of God in the garden of Eden. The product of work is offered to God in worship. The Law is full of commands to deal justly, use fair weights and measures, consider health and safety in the building of a house, and give yourself, your family and your animals a rest (to name but a few). Jesus tells us that you cannot serve both God and money. The pictures of the New Creation in both Old and New Testaments include economic imagery – The Old Testament book of Micah envisions an end to war with everyone living “under their own vine and fig tree” (a vision of peace and economic flourishing) and the New Testament book of Revelation depicts the product of human work being offered up in worship before the throne of God.  

Overall the Bible sees the economic, social and environmental dimensions of life as interwoven and interconnected. Take the Sabbath, for instance. It is not only workers who get (or are commanded to take) a Sabbath once a week. The command extends to the whole community - and even to animals. Every seven years, the Sabbath Year provides a rest for the land and for those struggling with debt – the land must be fallow and allowed to regenerate, and all outstanding debts cancelled. Sabbath and Jubilee are deeply intertwined (the Jubilee was effectively a sabbath of sabbaths, taking place after seven sabbath years) and the Jubilee was the theological paradigm chosen by Jesus to explain his own mission and ministry. Quoting the prophet Isaiah, he said:  

“The Spirit of the Lord is on me, because he has anointed me to proclaim good news to the poor. He has sent me to proclaim freedom for the captives, recovery of sight for the blind, to set the oppressed free, to proclaim the year of the Lord’s favour.” 

These ancient texts suggest that our mainstream paradigm is seriously adrift if it imagines that our economic system is morally neutral. And Raworth is closely aligned with the biblical vision insofar as she insists on the importance of an economy that exists not for its own sake, in some independent sphere, but explicitly to enable people, communities and creation to flourish together.  We need to ask what our economy is for. And this is as good an answer as you might find.  

Review
Books
Comedy
Culture
Trauma
5 min read

Miranda Hart's diagnosis of the unseen

Beyond a medical illness she's on to something supernatural.
On a TV chat show, guests look to one of their own talking to the audience.
Mirnada regales a chat show.

There I was, standing in the book aisle with a choice before me. One that would dictate my mental state for the week ahead: I could pick up Boris Johnson’s hotly anticipated autobiography (although, at £30, it would mean putting the bottle of wine in my basket back on the shelf) or I could choose Miranda Hart’s latest literary offering.  

Externally, all seemed calm. Internally, an almighty battle of the books was raging within me. The price of Boris’ ruled out the option of buying both. So, which should I pick? Whose voice should I invite to live inside my brain for the next five days? Both books were offering me a cultural bandwagon to hop on, I just had to decide which wagon looked like the better option.  

Boris… Miranda… Boris… Miranda… Boris… Miranda…  

After some intense deliberation, I popped BoJo’s memoir back on the shelf and became the proud owner of Miranda Hart’s new book. And I must admit, after hearing from friends who chose Boris to be the victor of their own battle of the books, I am very happy with my decision.  

Miranda Hart, the deeply beloved comic actor, sit-com writer, and stand-up comedian, hasn’t been entirely honest with us. For decades, she has been suffering with what she now knows to be Lyme Disease. In her book, she draws back the curtain and reveals a lifetime worth of suffering with illness after illness – bronchitis, tonsillitis, pericarditis, gastroenteritis, labyrinthitis – as Miranda succinctly puts it, ‘too many itises’. Despite illness being her body’s default state, Miranda kept calm(ish) and kept on. That is, until around a decade ago when her symptoms became simply unbearable.  

She tells the story of collapsing onto her living room floor, extreme fatigue rendering her utterly unable to pick herself up. This was the beginning of months of being bedbound and years of having to press pause on her life. Miranda recalls how she wept with relief at being able to crawl to the bathroom, of how she had to watch the television with sunglasses on because of neurological symptoms, and how she would ‘look at a cup of tea on the table and wonder if I had the strength to take a sip’.  She also paints a terrifying picture of not being believed - of living with an illness that nobody can understand, of suffering with symptoms that have no explanation. Miranda contracted Lyme Disease when she was fourteen, and had it diagnosed when she was in her forties.  

It seems that Miranda Hart is trusting that all that she can see is not all that there is – that her suffering is not the truest thing about her and that she doesn’t need to be the source of all of her healing. 

For those with no experience of living with a chronic illness, Miranda’s honesty will open your eyes to the pain and frustration that comes with your body not allowing you to live the life you crave. If you do have experience of chronic illness, this book will make you feel seen. 

But, alas, this is Miranda Hart we’re talking about. If you’re looking for a woe-is-me book, this isn’t it (maybe you’d have more luck trying Boris?). This book is brimming with:  

A) End-of-chapter dance breaks 

B) Jokes about wind (obviously)  

C) Theology 

I kid you not.  

Each of her chapters outline a ‘treasure’ that she has found in the depth of her suffering, the ‘watchwords’ that she uses to encapsulate these treasures are: love, faithfulness, peace, self-control, kindness, goodness, joy, gentleness and patience.  

I got to chapter four of the book and had myself a real – ‘hang on a minute…’ - moment. As a Christian, I’ve grown up with another way of grouping those words together: I call them ‘the fruits of the Spirit’. 

By chapter five I was convinced: Miranda Hart has released a spiritual book.  

She has, quite excellently, trojan-horsed a bunch of Bible into the Sunday Times best-seller’s chart. And nobody seems to have noticed, I almost feel a little guilty for outing her. All the book reviews I’ve read note the hard-won warmth and wisdom included in this book (both of which are there, by the way) and conclude that it is a truly lovely self-help manual. And that’s where they’re wrong.  

This is precisely not self-help.  

In fact, I get the subtle sense that the self-help industry is one that irks Miranda a little bit, and understandably so – the idea that we can ice-bath ourselves into wellness must sound odd to someone who can’t pick themselves up off their living room floor. So, I’ll say it again: self-help is not what this book is.  

Instead, it seems that Miranda Hart is trusting that all that she can see is not all that there is – that her suffering is not the truest thing about her and that she doesn’t need to be the source of all of her healing. She mentions, again and again, that the truest thing about her (and us, her 'Dear Reader Chums') is that she, and we, are loved. Deeply, unconditionally, unshakably loved. We haven’t earnt it and therefore can’t lose it. In her darkest moments, she had lost everything – her career, her social life, her home, her hopes and dreams - but she never lost that love. Everything else she has to say in the book flows from that belief.  

I happen to think she’s dead right – but that is, undeniably, a faith statement. This book is built upon them.  

And listen, you could read this lovely book – giggle and weep your way through it – without ever sensing anything supernatural within it. But, make no mistake, there is the supernatural within it. 

What Miranda has affectionately called her ‘treasures’ and the Bible calls ‘the fruits of the Spirit’ are just that; they’re what grow when one lives a life informed by and infused with God’s spirit. They’re the tangible symptoms of putting yourself in God’s presence, of keeping company with him. They are him rubbing off on us.  

What I’m trying to get at is this: these ‘fruits’, they’re seen in us, but they’re all God. They’re not the fruits of the self and so the way to obtain them cannot be self-help.  

Miranda obviously appreciates that belief in any divine/supernatural/transcendent thing can be complex, that the notion of ‘god’ can come with baggage, and religion can be an all-out no-no. And so, she is incredibly subtle with what she has to say. This book is not self-help, but it’s not evangelism either. She uses her beloved ‘ists’ (phycologists, neurologists, sociologists etc.) to unpack the ‘treasures’/’fruits’, showing how recent research and ancient religion have many of the same things to say.  

And listen, you could read this lovely book – giggle and weep your way through it – without ever sensing anything supernatural within it. But, make no mistake, there is the supernatural within it. From the opening page to the closing one, God’s there, hidden in plain sight.  

I really am unspeakably glad I didn’t pick Boris.