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Wellbeing Economics in Public Policy: A Distinctive Australasian Contribution?

journal contribution
posted on 2024-06-21, 03:53 authored by Paul Dalziel
The 'Wellbeing Budget' presented to the New Zealand Parliament in 2019 was widely described as a world-first. This article explores the possibility of a distinctive Australasian contribution to our understanding of wellbeing economics in public policy. The introduction section presents an analytical wellbeing framework showing how human actions draw on services provided by the country's capital stocks to create and sustain personal and communal wellbeing. The second section chronicles some landmark policy initiatives in Australia and New Zealand for understanding and monitoring wellbeing, culminating in the Wellbeing Budget. The third section highlights four areas for further development: (1) the role of family wellbeing in intergenerational wellbeing, (2) the role of cultural capital in providing foundations for future wellbeing, (3) the role of Indigenous worldviews in enriching understandings of wellbeing and (4) the role of market enterprise in expanding capabilities for wellbeing. These are all areas where Australasian researchers have demonstrated expertise.

Funding

Funded by the New Zealand Ministry for Business, Innovation and Employment's Our Land and Water National Science Challenge (Toitū te Whenua, Toiora te Wai) as part of project Rewarding Sustainable Practices|Integrating Value Chains

History

Publication date

2019-10-07

Language

  • English

Does this contain Māori information or data?

  • No

Journal title

Economics and Labour Relations Review

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