What a Wellbeing Economy Looks Like
Tentative and not fully-formed, but the First Minister here outlines what a wellbeing economy would look like as we stagger towards the enormity of climate crisis and the brutal reality that it is us, and our economic system that is the problem.
Last month Kenny Farquharson wrote an opinion piece in The Times about the work of my colleagues and friends in the Degrowth Commission and Enough! collective, a brand new climate think-tank. He wrote:
“I am a big fan of dreamers. They test our definitions of what is possible. They hear the words “unrealistic” and “impractical” and respond with “why?” At present, the ideas of the Degrowth Commission are on the fringes of political debate, but that will change.”
As mainstream politics descends into farce and the ecological crisis focuses formerly closed minds, it seems the transfer of ideas from the margins to the centre is accelerating.
The notion of stopping deifying economic “growth” and the idea of using a different set of metrics for measuring “success” than GDP is not new. But hearing it articulated from the mouths of our elected leaders is.
From the intro:
“In 2018, Scotland, Iceland and New Zealand established the network of Wellbeing Economy Governments to challenge the acceptance of GDP as the ultimate measure of a country’s success. In this visionary talk, First Minister of Scotland Nicola Sturgeon explains the far-reaching implications of a “well-being economy” – which places factors like equal pay, childcare, mental health and access to green space at its heart – and shows how this new focus could help build resolve to confront global challenges.”