This discussion space is part of the Wellbeing Economy Policy Design course, Module 2.8
Discussion question: What do you see as the main value of applying a wellbeing economy approach to public policy?
Share your thoughts by clicking on the Reply button below.
If you can, please share the country or region that you work in, this helps provide context for other course participants.
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The main value of applying a wellbeing economy approach (rather than an economy of wellbeing approach) is that puts the ‘ends’ – that is, improving wellbeing – at the centre. This, however, requires policymakers to have a better understanding of “dynamic complexity”. This is difficult when much of policy exist in silos – economic policy falls to one department; welfare to yet another; transport in yet another space; etc. The opportunity here is to encourage policymakers to see the interconnectivity between policy areas –– and recognise the critical importance of participation of local people and communities if any policy is to achieve its desired economic, social, and environmental impacts.
Thanks for sharing, Si! Great to see how a wellbeing economy can help shift the focus towards ‘ends’, as well as highlighting the value of dynamic complexity and community participation.
QLD, Australia. Main value of applying a wellbeing economy approach to public policy. As described in the course, the current system is unsustainable and I am worried about the next “industrial revolution” with AI integration into the economy. Less jobs - it’s happening already, I became more worried listening to Steven Barrett and Geoffrey Hinton interview
Thanks so much for sharing your reflections from Queensland, @Shellduck. And yes - we’re also trying to get our heads around what AI might mean for the wellbeing economy. If you might have a link to the interview with Steven Barrett and Geoffrey Hinton, I’m sure others would be very interested too .
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