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Ergo: 'Doughnut economics' just the treat for President Higgins


President Michael D Higgins (Peter Byrne/PA)

President Michael D Higgins (Peter Byrne/PA)

President Michael D Higgins (Peter Byrne/PA)

President Michael D Higgins was in the spotlight last week, not just as a result of signing bills, but also for his advocacy of an interesting economic theory.

Last week, Kate Raworth, author of the book Doughnut Economics, took to Twitter to celebrate the President mentioning the economic theory in his recent speech at the Engineers Ireland annual conference.

The theory behind 'Doughnut economics' consists of two concentric rings: a social foundation - to ensure that no one is left falling short on life's essentials - and an ecological ceiling, to ensure that humanity does not collectively overshoot the planetary boundaries that protect Earth's life-supporting systems. Between these two sets of boundaries lies a doughnut-shaped space that is both ecologically safe and socially just; a space in which, the theory says, humanity can thrive.

During his speech, Higgins argued "a radical paradigm shift" was needed between ecology, economics and society.

"How can we achieve a fair distribution of wellbeing while staying within environmental limits? Our overriding goal must be to remain within what Kate Raworth has described, 'a safe and just space for humanity'," he said. "This means we can improve human wellbeing on a global level while simultaneously preserving the preconditions for a safe, healthy planet and the future wellbeing of its peoples."

Following the speech, Raworth shared her delight on social media. Higgins may be the first head of state to publicly support the Doughnut economic theory, she said.

MBO the clear move for Irish-founded fintech firm

The management team at Irish-founded but UK-headquartered Clear Treasury have completed a buyout of the fintech company from founder Barry O'Neill.

On LinkedIn, O'Neill said the MBO (management buyout) was completed by now joint CEOs Jordan Tilley and Peter O'Flanagan and Paul Reilly (CCO).

Clear Treasury has offices in both London and Dublin. It operates in the currency and payments landscape providing clients with services to help grow firms internationally.

O'Flanagan said the MBO would allow the team to "realise the full potential of Clear Treasury". He added it had "aggressive growth plans" and would look to add roles in Ireland and the UK in the coming years.

On LinkedIn, O'Neill wished the team the very best, adding he looked forward to their continued working relationship.

There's lots of talk about how tough the pandemic is proving for children and young adults, so it's great to see a company step up to the plate in a very real way. Irish engineering firm DPS has just committed a further €1m to expand its Aspire2 student support programme. Since 2015, more than 1,000 students in seven Cork and Dublin schools have been assisted, with Mercy Secondary School in Inchicore now joining. It provides academic support, direct funding and individual mentoring by DPS staff, who have volunteered their time to take part in the programme.

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