Preform an analysis of your economy

Reference no: EM133714361

Question: Read Raworth's recommendation that the field of economics abandons the idea of homo economicus and replace it with the idea that humans are social adaptable humans.

In the first part of your response, please explain why she makes this recommendation. Or, in other words, what is wrong with the model of homo economicus and how has it harmed the world?

In the second part of your response, please preform an analysis of your economy( MY ECONOMY IS CAPE TOWN SOUTH AFRICA) to determine the degree to which it has adopted her recommendation. For example, can you find evidence that your economy supports people to express: 1) fluid values, 2) interdependence with other humans, 3) tendency to approximate risks and rewards, and 4) our dependency on nature?
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 judgement 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)

Reference no: EM133714361

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