MY ECONOMY IS CAPE TOWN SOUTH AFRICA..

This week we read Raworth's recommendation thatthe field of economics abandons the idea that economic inequity is natural and/or will be fixed through growth, and replace it with the idea the inequity (and equity) is a policy choice.

• In the first part of your response, please explain why she makes this recommendation. What is wrong with the model of inequity as natural/cleaned up by growth,and how has it harmed the world?
• In the second part of your response, please preform an analysis of your economy to determine the degree to which it has adopted her recommendation. Here is a list from our reading of specific things to look for in your economy:
  • Does your economy have any non-profit land trusts?
  • Does your economy have any alternative currency systems?
  • Does your economy have any cooperative businesses in it?
  • Does your economy provide compensation for jobs that have been replace by automation?
  • Does your economy have common pool resources and public goods that are available to everyone regardless of ability to pay?
• You can draw on multiple sources of data, such as newspaper articles, government documents, research papers, and your own observations. This analysis will require you to make numerous judgement calls and use your own interpretation. This is acceptable and you should just explain your reasoning. After presenting your evidence, use the following scale to provide a numerical "doughnut score":

1=My economy is heavily committed to doing things the old way (neoclassical economics)

2=My economy is lightly committed to doing things the old way (neoclassical economics)

3=My economy is neither committed to doing things the old way nor the old way (in the middle)

4=My economy is lightly committed to doing things the new way (doughnut economics)

5=My economy is heavily committed to doing things the new way (doughnut economics)