The Wellbeing Economy Alliance (WEAll) is the leading collaboration of changemakers working together to transform the economic system
Very nice signal is coming from WEAll , the Alliance for an Economy of Well Being, a coalition created to drive change towards a new economy, that includes important leaders from all over the world. The debate on a new economy is then expanding out of academia and enters into action, comments in a recent article Leonardo Becchetti, new generative indicators would engrave economic policy and the real world. He says that: “The main failures of current economy are essentially two. The first is the confusion of well-being and good living with consumer surplus. The books on microeconomics which are the basis of economic knowledge and recipes contain this fundamental and incorrect simplification.
The only thing that seems to matter in the market economy is securing ever lower prices through competition. But low prices do not only depend on efficiency and technological progress and can instead hide lack of dignity in work, environmental unsustainability and low product quality.
The second fault is the almost exclusive focus on productivity and efficiency which means, by simplifying, producing more goods and services in less time.We live in the paradise of consumers overwhelmed by goods of all kinds and types, often available at very low cost, even if inflation today seems to suggest the opposite, at least in the short term. But often behind the exalted consumer there is not only innovation and progress, but there is also the mortified and exploited worker (especially in low-skilled jobs) and the ecosystem at risk.
What are the novelties of WEAll:
WEAll’s vision is that economies around the world are redesigned to create shared wellbeing for people and planet by 2040.
The Wellbeing Economy Alliance is a time-bound project that is building momentum for economic transformation and changing the debate so that economies around the world deliver shared wellbeing for people and planet.
WEAll is doing this by:
1. Strengthening, supporting, and connecting existing geographic and thematic power bases at all levels of society, in priority countries, that together have the power to change the current global economic system.
2. Curating and democratising knowledge that demonstrate the viability of a Wellbeing Economy approach, to influence change in local, national, and global arenas, as well as set the agenda for governments and institutions to sequence just transitions to Wellbeing Economies.
3. Co-creating new, powerful narratives of hope to change the debate and mobilise millions of people of all ages and from all walks of life to act at local, national, and global levels in support of a shift to a Wellbeing Economy.