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Oikonomos is an Ancient Greek word coined by the philosopher Xenophon meaning 'household manager’. The word 'economics' comes from this word — comprising the Greek words 'eco', meaning home, and 'nomos', meaning rules and norms. Put simply, economics means the art of household management. In the opening pages of her book Doughnut Economics: Seven Ways To Think Like A 21st Century Economist, Kate Raworth shares this framing of the economy’s origins, going further to say:
“It couldn’t be more relevant today. This century we need some pretty insightful managers to guide our planetary household, and ones who are ready to pay attention to all of its inhabitants”.
At CIVIC SQUARE, nestled in the neighbourhood of Ladywood, Birmingham UK, we put the Doughnut at the heart of our organising framework, treating it like a compass. You can explore our emerging understanding of what we mean by neighbourhood in 03 | Our Neighbourhood.
Embracing the Doughnut meant we also embraced the open invitation and provocation Kate Raworth put to us in 2020:
“How might we steward and manage our planetary home, starting from where we are; in our homes, streets and neighbourhood(s) together?
The Doughnut offers a vision of what it means for humanity to thrive in the 21st century, and Doughnut Economics explores the mindset and ways of thinking that may help us to get there.
First published in 2012 in an Oxfam report by Kate Raworth, the concept of the Doughnut quickly gained traction. This led to Kate's 2017 book, Doughnut Economics: Seven Ways To Think Like A 21st Century Economist which further explored the economic thinking needed to bring humanity into the Doughnut’s safe and just space. The book sought to also tell a series of new stories to accompany these mind-shifts, unpacking and demystifying the ideas of economics, inviting everyone into the story, and helping them see their role within it.
“People can get scared of economics, but nobody is scared of a doughnut.”
*—*Kate Raworth