Wellbeing economy explained

Wellbeing economy is a public policy framework in which the economy is designed to serve social, health, cultural, equity and nature outcomes.[1] [2] The aim is to go beyond gross domestic product (GDP) as the main measure of national economic performance. Since the early 2000s there has been growing interest in wellbeing as a framework in research, measurement and policy.

National and international adoption

A number of countries have introduced wellbeing metrics to guide public policy decision-making and inform budgetary processes with a focus on education and skills, health, gender and inclusion.[3] The approach has been adopted as national policy in a number of countries including Scotland,[4] New Zealand, Iceland, Wales,[5] Finland and Canada which established the Wellbeing Economy Governments partnership (WEGo) in 2021.[6]

Intergovernmental organisations such as the World Health Organization (WHO) have also adopted wellbeing as a whole-of-government approach to meet complex social, environmental and public health challenges. This was first articulated in 2021 with the adoption of the Geneva Charter for Wellbeing.[7] and in May 2023 the WHO Assembly adopted A global framework for integrating well-being into public health utilizing a health promotion approach,[8]

Notable examples

Bhutan

See main article: article and Gross National Happiness.

Canada

See main article: article and Canadian Index of Wellbeing.

United Kingdom

Scotland

Wales

See main article: article and Well-being of Future Generations (Wales) Act 2015.

United Nations Sustainable Development Goals

See main article: article and Sustainable Development Goals.

Public opinion

A survey made by Ipsos for the organization Earth4All in 17 of the G20 countries, found that 68% of the respondents support prioritizing wellbeing over profit.[9]

See also

External links

OECD Better Life Initiative

International Wellbeing Economy Alliance (WEAll) group

Notes and References

  1. McCartney . Gerry . Hensher . Martin . Trebeck . Katherine . 2023-07-05 . How to measure progress towards a wellbeing economy: distinguishing genuine advances from 'window dressing' . Public Health Research & Practice . 33 . 2 . 10.17061/phrp3322309. free .
  2. Fioramonti . Lorenzo . Coscieme . Luca . Costanza . Robert . Kubiszewski . Ida . Trebeck . Katherine . Wallis . Stewart . Roberts . Debra . Mortensen . Lars F. . Pickett . Kate E. . Wilkinson . Richard . Ragnarsdottír . Kristín Vala . McGlade . Jacqueline . Lovins . Hunter . De Vogli . Roberto . Wellbeing economy: An effective paradigm to mainstream post-growth policies? . . 2022 . 192 . 107261 . 10.1016/j.ecolecon.2021.107261. 11577/3452652 . free .
  3. The Economy of Well-being: Creating Opportunities for People's Well-being and Economic Growth . Nozal . Ana Llena . Martin . Neil . OECD . Martin . Fabrice .
  4. Web site: Building a New Scotland: A stronger economy with independence - summary . www.gov.scot . Scottish Government . 2023-10-07.
  5. Web site: Wellbeing of Wales. September 28, 2023. Government of Wales.
  6. Web site: Wellbeing Economy Governments (WEGO) . 2023-10-07 . Wellbeing Economy Alliance . en.
  7. The Geneva Charter for Well-being . World Health Organisation .
  8. Achieving well-being: a global framework for integrating well-being into public health utilizing a health promotion approach . 30 May 2023 . World Health Organisation.
  9. Web site: Allgood . Beth . Understanding the Global Call for Wellbeing: Insights from Earth4All’s Latest Survey . One Nature.

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