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The hole in the doughnut: Formalizing and testing a key model of degrowth

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  • Ashruta Acharya
  • Vincent Geloso
  • Aleksander Psurek

Abstract

Degrowth scholars often claim that capitalism generates social and ecological imbalances, as captured by Kate Raworth's leading doughnut model. We formalize this model using social and environmental indices and measure imbalances using their coefficient of variation. We then test if capitalism, proxied by economic freedom, is associated with greater imbalances across multiple datasets, specifications, and functional forms. We find little support for the model's central prediction. If anything, the relationship often runs in the opposite direction. These results suggest that the doughnut model, minimally as here formalized, is not empirically supported and may provide a limited guide for policy.

Suggested Citation

  • Ashruta Acharya & Vincent Geloso & Aleksander Psurek, 2026. "The hole in the doughnut: Formalizing and testing a key model of degrowth," Contemporary Economic Policy, Western Economic Association International, vol. 44(3), pages 549-575, July.
    • Handle: RePEc:bla:coecpo:v:44:y:2026:i:3:p:549-575
    DOI: 10.1111/coep.70031
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