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Reading: Doughnut Economics: A Chance at Ameliorating Well-being in Pakistan

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Doughnut Economics: A Chance at Ameliorating Well-being in Pakistan

Author:

Zoya Japanwala

LSEPK
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Abstract

The Pakistani economy is under pressure to increase its growth figures, such as the Gross Domestic Product (GDP) and to pay back its foreign debt to regain its international significance. The country’s economy also faces the challenge of alleviating the 24.3% of  population living below the national poverty line (Asian Development Bank, 2021).  In the past few years, corruption, political unrest and currency depreciation has made it next to impossible to conquer these challenges. Furthermore, now, increasingly, the country’s younger generation is pressurising the government to prioritise issues such as climate change, gender equality, peace and equity. Although the government responds to these issues, the response is often short-lived at the expense of improving the country’s growth figures. A social point of view has been generated that indicates that issues such as climate change, chemical pollution, biodiversity loss are issues raised by the middle and upper classes whereas at the other end of the spectrum, the lower classes struggle to attain basic necessities such as healthcare, sanitation and electricity. This article approaches Kate Raworth’s ‘Doughnut Economics’ as a solution in intertwining these epochal concerns. The paper goes on to expose why Pakistan has more potential in improving well-being through a doughnut economics model rather than long established traditional economic models that are simply engineered to augment indicators like the GDP.

How to Cite: Japanwala, Z., 2021. Doughnut Economics: A Chance at Ameliorating Well-being in Pakistan. LSE International Development Review, 1(2).
Published on 29 Apr 2021.
Peer Reviewed

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