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The defining feature of a Wellbeing Economy is that it is designed to maximise people's wellbeing. This contrasts with the Monetary Economy that most of us are used to, which is designed to maximise the income and growth of money.
The current money-focused system measures success as the growth in money wealth delivered by the economy, reported as the GDP (Gross Domestic Product). This measure has no interest in how that money is shared or spent. The emerging wellbeing-focused system measures success as the overall improvement in the quality of everyone's lives contributed by the economy, reported as Wellbeing
In a money-focused economy, people serve the economy.
In a wellbeing-focused economy, the economy serves people
First Principles
First Principles
The bedrock of a wellbeing economy underpins organisations and individuals seeking to adopt wellbeing-economic principles.
Primary Purpose – The purpose of a wellbeing economy is to enrich human flourishing (psychological, relational, social, cultural, spiritual) and enhance planetary ecological integrity.
Sustainable Humanity – Neither human being nor nature/planet should be treated as mere means to economic ends (e.g. growth, wealth accumulation and cost-effectiveness).
Equal Dignity – Well-Being Economy must respect the equal worth of all human beings and the moral standing of more-than-human beings.
Adopting Wellbeing Economy Principles
Adopting Wellbeing Economy Principles
A Wellbeing Economy emerges when organisations and individuals adopt wellbeing-focused principles in their activities and lives. Some of the principles are set out below. The section on Narrative offers a more in-depth understanding of these principles.
Dignity – All sentient beings have inherent worth, which constitutes their dignity. Dignity determines that no one’s flourishing is built on another’s exploitation. In fact, respecting others' dignity and safeguarding their dignity is a part of our own dignity.
Ecological Integrity – The well-being economy not just operates within planetary boundaries, but must also enrich ecological integrity, and honour the mutuality of well-being with nature. Hence, shared flourishing.
Equity and Justice – Distribution of resources, opportunities, and voices is fair, transcending and addressing historical and continued structural inequalities.
Relationality and Care – The economy nurtures bonds of care, mutual belongingness, and solidarity.
Agency and Participation – People and communities, including the communities of the more-than-human, will participate and fully engage in decisions that shape their well-being futures through democratic and relational processes of listening, dialogue and inquiry.
Meaning and Purpose – Human work and our consumption must also be meaningful in a well-being economy, which cannot be instrumentalised purely for economic gains. These should comprise in lives of value, purpose, and cultural-spiritual expression.
Contributing to a Wellbeing Economy
Contributing to a Wellbeing Economy
A Wellbeing Economy emerges from two directions.
The top-down implementation of policies and structures is described in the section Wellbeing Economic Theory below. The bottom-up adoption of wellbeing -focused practices.
WEAll England showcases some bottom-up adoptions of wellbeing-focused practices in the following domains:
Local government
Local community
Education
Social care
Psychology
Wellbeing EconomY Models
Wellbeing EconomY Models
Around the world, new wellbeing-focused economic models are emerging that move beyond the traditional focus on growth and GDP to place human and planetary wellbeing at the heart of economic systems. These wellbeing-focused approaches seek to align economic activity with ecological sustainability, social justice, and cultural integrity. By addressing interdependence across social, environmental, and economic domains, they aim to create regenerative systems that nurture thriving communities while protecting the planet for future generations. These frameworks recognise that true prosperity is measured not only by material wealth but by the flourishing of people, communities, and the natural world on which all life depends.
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