Read Raworth's recommendation that the field of economics abandon the idea of a self-contained market and replace it with the concept of a market embedded in natural and societal systems.

--MY ECONOMY IS CAPE TOWN SOUTH AFRICA--

• In the first part of your response, please explain why she makes this recommendation and how her diagram of the embedded economy expands on the circular flow diagram.
• In the second part of your response, please perform an analysis of your economy to determine the degree to which it has adopted her recommendation. For example, can you find evidence that your economy pays attention to the "cast of the play" that Raworth provides on pages 62-63?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 judgment 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)