Wellbeing Economy

A Wellbeing Economy is one which places people and the environment at the heart of it.

 

Overview

A Wellbeing Economy is one which places people and the environment at the heart of it. Under this economic system, growth is not pursued as a means to an end, but to deliver positive outcomes such as improved societal wellbeing.  Scotland is leading the wellbeing economy agenda on the international stage and is a founding member of the Wellbeing Economy Government network (WEGo), which also includes New Zealand, Finland, Wales and Iceland.

Background

Around the world, governments are moving away from measurements of the economy such as GDP, to reconsider what an economy is for and what a successful one can look like. Many are now looking towards quality of life as a key indicator of success, as well as participation at the local level and a feeling of belonging in the community.

Included in this new analysis is an understanding that economic growth can also have a detrimental impact on the planet, and that a measure of a successful economy must include the environment. The UN has warned that without action on climate change, our food, water and air supply are all threatened as we face ecological collapse.

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