Amsterdam Is Embracing a Radical New Economic Theory to Help Save the Environment. Could It Also Replace Capitalism?

That's the question posed by an article in the February 1, 2021 issue of TIME magazine, which explores how Amsterdam (and many other cities around the world) are using the ideas of Doughnut Economics shape their post-COVID recoveries.

 “I was brought up in Thatcher times, in Reagan times, with the idea that there’s no alternative to our economic model,” says Van Doorninck, Amsterdam's deputy mayor. “Reading the doughnut was like, Eureka! There is an alternative! Economics is a social science, not a natural one. It’s invented by people, and it can be changed by people."

The article delves into various Doughnut-inspired Amsterdam projects - from Beach Island, an archipelago of six new islands in Lake IJssel, to the “Denim Deal" for a more circular fashion industry - and touches on how other cities - from São Paulo to Kuala Lumpur - are following suit.

“It’s not that every day-to-day city project has to start with the doughnut, but the model is really part of our DNA now,” says Lianne Hulsebosch, IJburg’s sustainability adviser. “You notice in the conversations that we have with colleagues. We’re doing things that 10 years ago we wouldn’t have done because we are valuing things differently.”

You can read the full article here.

Image based on an illustration by Chris Dent for TIME.

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