Summary of Toward a Sustainable Wellbeing Economy

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Can human beings, driven by greed and materialism, ever evolve enough to create a truly egalitarian society that ensures the common good? Academic Robert Costanza, along with his co-authors at the journal Solutions, says that it is not only possible but already happening. This idealistic yet thought-provoking essay spells out the requirements for “sustainable well-being” and shines a spotlight on worldwide initiatives to replace GDP growth with alternative goals. getAbstract suggests this visionary report to policy experts, economists and utopians.

In this summary, you will learn

  • What “sustainable well-being” means for an economy,
  • Why this approach is better than traditional GDP measures of economic progress and
  • How the “well-being economy” is emerging worldwide.
 

About the Author

Robert Costanza et al. are contributors to Solutions, an online publication that discusses solving ecological, social and economic problems.

 

Summary

Economies have historically concentrated on growing their GDP, leading to rising income inequality, climate change and the erosion of natural resources. It’s time to consider a more comprehensive way of gauging economic progress: “sustainable well-being.” The United Nations’ Sustainable Development Goals – which include eradicating poverty, increasing equality and caring for natural ecosystems – are good starts. In October 2017, Costa Rica, New Zealand, Scotland and Slovenia joined in supporting global welfare metrics to replace GDP as the yardstick for development. Their objective is to eventually form a bloc similar to the G8 or G20. The international Well-being Economy Alliance (WE-All), comprised of corporations, organizations, agencies and activists, champions their endeavor. WE-All assists in furthering a “well-being economy” that:


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