A well-being economy in practice: spotlight on Wales and Nanaimo (Cdn Centre for Policy Alternatives)

Well-being economies are designed to serve people and the planet. They do so by creating and empowering institutions, such as governments, to deliver an equitable distribution of wealth while protecting the planet’s resources for future generations.

The idea that the economy should exist to serve people and the planet seems sensible and appealing. But because of the carefully orchestrated narrative of the economy having a life of its own, whose needs we need to accommodate, some may perceive the idea of a well-being economy to be naïve and unfeasible, and thus hesitate to embrace its application.

In fact, the well-being economy is not just a nice idea. Its principles are being adopted in various ways and at various stages, in countries such as Iceland, New Zealand, Finland, Scotland, and even in Canada. The process is arguably most advanced in Wales ...

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