16 July 2026 – Humanity has pushed beyond many of Earth’s planetary boundaries, driven by a long-standing focus on economic growth as the main measure of progress. This has contributed to the interconnected challenges of the triple planetary crisis: pollution, climate change and biodiversity loss. These challenges reflect economic systems that have often prioritised short-term expansion over the long-term wellbeing of people and the planet.
In The Elgar Companion to Creating a Regenerative Economy for Wellbeing, my co-author Ásgeir Brynjar Torfason and I explore the foundations of a new economic paradigm. Drawing on multidisciplinary knowledge, we outline the building blocks for a regenerative economy – one that restores ecosystems, strengthens communities and places wellbeing at the centre of decision-making.
Such a transformation requires new forms of leadership. Values traditionally associated with the feminine – such as empathy, care, cooperation and long-term thinking – must become central to economic research, policymaking and institutions. These qualities support systems that recognise the deep connections between people, society and nature.
A regenerative economy requires more than gradual reform. It demands a shift in the systems, values and indicators that guide our societies. Moving beyond GDP as the dominant measure of success, we need indicators that reflect human flourishing, ecological health, equality and resilience.
As systems thinker Donella Meadows observed: “If we don’t know where we want to go, it makes little difference that we make great progress.” A clear vision is therefore essential.
What would the near future look like in a world grounded in compassion for people and nature, in which the regenerative economy for wellbeing has taken hold? The book explores this scenario in 2035: A world where the regenerative economy for wellbeing has taken root for a decade. This future is grounded in compassion – for ourselves, each other and nature. It is a world where cooperation replaces competition, economies operate within ecological limits, and progress is measured by the ability of all life to thrive.
By 2035, humanity has moved beyond the pursuit of endless growth and embraced the understanding that human wellbeing depends on the wellbeing of the natural world. The transition was accelerated by recognition that resources are finite and that economies must respect planetary boundaries. Concepts such as the circular economy, doughnut economics, degrowth and “the principles of enough” helped societies move towards sustainability and balance.
The Nordic countries played an important role in this transformation by advancing wellbeing economy approaches pioneered in Iceland and Finland. Their example influenced wider adoption across Europe and inspired other countries committed to wellbeing-focused governance, including Bhutan, Botswana and Costa Rica.
Economic systems changed. Basic income became widely recognised as a foundation for dignity, while cooperative enterprises, social businesses and not-for-profit models expanded. Businesses increasingly prioritised regeneration and social responsibility. Inequality declined through stronger welfare systems, progressive taxation and greater recognition of care work.
Education evolved as well. Economics and business schools embraced broader perspectives, including feminist economics, behavioural economics, care economies, cooperation and wellbeing economics. New generations learned to see economies as living systems connected to communities and the natural world.
By 2035, the regenerative economy had become a global movement shaped by diverse national pathways but united by shared principles: ecological restoration, human dignity, equality and resilience. Renewable energy, biodiversity protection and regenerative practices became central priorities.
This future emerged through collective action in response to global crises. Democracy strengthened, environmental protection advanced, and the rights of nature gained greater recognition. The world began moving from extraction and competition towards regeneration and connection.
The regenerative economy for wellbeing offers a vision of a peaceful, just and thriving future – where prosperity is not defined by having more, but by creating the conditions for all life to flourish. I invite Club of Rome members to continue exploring and debating the building blocks of this transformation in the months ahead.
See short book presentation at the Wellbeing Economy Forum in Reykjavik in April 2026.
