Published 2024 – Economic success is still measured largely by GDP, even as governments experiment with broader ways to assess whether people and nature are doing well.
In Getting wellbeing economy ideas on the policy table: theory, reality, pushback and next steps, Katherine Trebeck shows what happens after the vision has won support. Drawing on experiences from Bhutan, Costa Rica, Finland, Iceland, New Zealand Aotearoa, Scotland and Wales, the paper explores what helps wellbeing economy ideas gain political support, what stands in their way and what governments, civil society and advocates can learn from countries already putting these ideas into practice.
What is a wellbeing economy?
A wellbeing economy is one in which the economy exists to improve people’s lives while protecting the natural systems that support them. Instead of treating economic growth as the ultimate goal, it sees growth as one of many tools that can help deliver good health, decent work, social justice and a safe environment for current and future generations.
Many governments now recognise this principle, and this paper assumes that readers are already familiar with that ambition. Its focus is what comes next: putting those ideas into practice so they influence budgets, policymaking and public institutions.
What are the challenges to implementing a wellbeing economy?
One of the paper’s central findings is that evidence alone is not enough to change policy. Research is essential, but governments also respond to political leadership, public demand, trusted relationships and people in institutions who are willing to champion new ways of working.
The case studies point to several recurring obstacles:
- Institutional inertia. Government systems favour existing rules, incentives and measures of success.
- Short-term political priorities. Immediate crises often crowd out long-term reform.
- Vested interests. Groups that benefit from the current system can resist change or weaken reform efforts.
- Fragmented policymaking and weak accountability. Wellbeing goals often fail to influence budgets, legislation and decisions across government.
How can we implement a wellbeing economy?
The paper identifies several lessons for policymakers, researchers and advocates working to advance economic system change.
- Evidence needs political support. Research is most effective when it is backed by public demand, trusted relationships and people inside government who can drive reform.
- Implementation matters. New indicators and public commitments only matter when they influence budgets, legislation and government accountability.
- Institutions need to change. Moving beyond GDP requires changes to the rules, incentives and systems that guide public decision-making.
- Protect the meaning of wellbeing. Governments should avoid using wellbeing language while continuing business as usual.
- Broad coalitions strengthen reform. Collaboration across governments, researchers, civil society, businesses and communities helps build support for long-term change.
About the author
Katherine Trebeck, member of the Club of Rome, is one of the leading voices on wellbeing economics and economic system change. She is co-founder of the Wellbeing Economy Alliance (WEAll) and Wellbeing Economy Alliance Scotland and helped establish the Wellbeing Economy Governments (WEGo) partnership, which supports collaboration between governments working to make wellbeing a priority in public policy.
Download the paper
Download Getting wellbeing economy ideas on the policy table: theory, reality, pushback and next steps to explore the evidence, case studies and recommendations in full.
Download PublicationThis paper forms part of the Earth4All deep-dive series. As part of the Earth4All project, collaborators have submitted deep-dive papers to delve further into the issues and solutions needed to transform our economic system and provide an equitable future for all on a finite planet.
