Hi. I’m very new to doughnut economics, but I think it is a great idea. I too was thinking about ethical investing as a way to start nudging the existing economy to start thinking in that direction.
Here are just a few thoughts, for what they are worth:
- Ditch “growth” in favor of “balance” as the guiding economic principle, on a macro and micro scale.
So a company’s value would be defined in terms of whether they contributed to balancing the doughnut or not. And an employee’s value within a company would be considered in the same terms: does the person contribute or not to improving the company’s “balance”? Pay them accordingly. (Come to think of it, politicians could be rated the same way…hmmm!)
The economy needs to therefore reward those that are contributing to the overall “balance” and coax the others to engage more in that direction.
For this to happen, there needs to be a way of quantifying an organization’s contribution or otherwise to the global balance. (Surely an algorithm could be conceived for this sort of thing?)
Organizations that were in negative “balance” could help their score by contributing financially and in other ways to organizations that are actively contributing to a positive global balance…
So, getting back to ethical investing, if a method of quantification (like a positive or negative numeric score) could be established, ethical investing funds might be the first ones to put it to use, and individual investors could then contribute to the general “balance” by investing in “positive balance” companies, etc. For starters.
I figure, as long as we have a money economy, we might as well use it to move things in the right direction.
Who knows? In the future, we might have something like a stock exchange in which the positive balance companies and other organizations would be valued more highly than negative balance ones, and the expression of that value in the exchange would itself be an incentive to move towards greater balance… This sort of thing would actually, in my view, reflect real value rather better than the current system, which is pure speculation at this stage.
These are just some initial thoughts. Best of luck to everyone who is working in one way or another to put doughnut economics into practice.