Joint EEAC & NESC Webinar: Wellbeing: a new yardstick for economic performance and welfare (recodings available)
The EEAC Network, together with the National Economic and Social Council (NESC), organized the joint webinar “Wellbeing: a new yardstick for economic performance and welfare”. The webinar took place on February 15th 2022. Please click HERE to consult the programme. Click HERE to view the session recordings.
A new yardstick
GDP growth has been a yardstick for economic performance and welfare and is considered essential for achieving a number of key objectives, including eradication of extreme poverty and adequate financing of social programmes. However there is growing consensus that it is limited in its ability to capture many critical dimensions of human life.
There has therefore been a shift internationally to look beyond GDP, to focus on measures that capture people’s living conditions and quality of life, as well as the state of the environment. Governments are increasingly utilising a well-being approach for policy prioritisation, policy making and evaluation. Such a well-being approach can reframe a Government’s approach to understanding, measuring and contributing to social and environmental progress.
The joint EEAC-NESC webinar focused on this international shift towards a well-being approach to policy making. Specifically, the webinar focused on A) the added value of the well-being approach, B) Buy-in to the well-being approach, and C) implementing a well-being framework and the barriers faced.
We had contributions from a variety of international policy makers and scientists, including Carrie Exton, Head of Well-Being Data Insights and Policy Practice, OECD, Minna Halme, Professor of Sustainability Management, Aalto University School of Business/ Finnish Expert Panel for Sustainable Development, and Jennifer Wallace, Director, Carnegie UK.