WISE Horizons

For decades, Gross Domestic Product (GDP) has been criticised as an inappropriate measure of social progress. But what comes after it?    Our publication Tilting the Scale tries to bring us closer to answering this question. It puts forward a Theoretical Framework centred around #wellbeing, #inclusion, and #sustainability, aiming to redirect the societal focus on economic growth towards a more holistic approach to jointly address ecological, social, and economic challenges. This theoretical framework synthesizes beyond-growth literature and initiatives to develop WISE metrics, accounts, and macroeconomic models for evidence-based policymaking and a new narrative centred around sustainable and inclusive wellbeing.  🔍 Implementing the WISE theoretical framework implies overcoming traditional economic growth narratives that have shaped public policies. The report proposes practical strategies to embed #WISE values into political decision-making:    📌 Establishing a common language and terminology for clarity and consistency. 📌 Building metrics, accounts, and macroeconomic models aligned with sustainable and inclusive wellbeing. 📌 Translating the sustainable and inclusive wellbeing narrative into actionable programs for public policymaking and governance. 🛤 In essence, the report highlights leverage points to create coherence among sustainability and wellbeing initiatives under the WISE umbrella and outlines pathways to promote sustainable and inclusive wellbeing in public policymaking. Delve deeper here ➡: https://lnkd.in/e7SxEaRU

A European agenda to navigate uncertain times - How to steer the EU towards Wellbeing for all The good news is that in Europe, we have the opportunity and knowledge to shape the direction of development towards sustainable and inclusive wellbeing, even in uncertain times. Despite geopolitical tensions, living costs, inflation, rising inequalities, climate and biodiversity crises, polarisation, and an aging society, we are not bound to fall into despair. The policy agenda of the new European Commission has all the opportunities to address these complex challenges. Our new advocacy paper, co-authored by our MERGE sibling projects SPES, ToBe, WISE Horizons and WISER, aims to support the new European Commission in this task. There is no need to start from scratch: The Commission can build on an existing body of governance, measurement frameworks, policies, legislation and good practices within the EU and globally. Read the paper below to discover how to steer the EU towards wellbeing, now and in the future 💡 #WellbeingEconomy #EuropeanGovernance #EUPolicy #FutureGenerations #HorizonEurope #SustainableGrowth #PolicyAgenda

You are interested in/working on Beyond GDP policies, metrics or indicators? Then take a look at this MERGE survey 👇 #wellbeing #inclusion #sustainability https://lnkd.in/dJRPWnrQ

The MERGE project, which will connect our research findings with others is now on Linkedin, too 🎉 For more info about the project visit https://mergeproject.eu/

A Review of policy strategies around the world through the lens of Wellbeing, Inclusion, and Sustainability 📌 This review from the EU-funded #WISEHorizons project examines existing policy strategies through a #WISE lens to better understand which and how #wellbeing, #inclusion, and #sustainability aspects are being integrated within the policy debate worldwide, including in Africa, China, the EU, Latin America, the US, and the Wellbeing Economy Governments (WEGo). 📌 Results find that Beyond-GDP approaches have not been widely integrated into policymaking so far, whereas the Sustainable Development Goals (SDGs) are a more prominent framework in the Global South. Furthermore, context-sensitive policies and approaches are needed. 📌 While the environmental dimension shows up most prominently in policy strategies, sustainability as a concept must be expanded further to include #futuregenerations and inclusion between geographic borders. Find out more here ➡ https://lnkd.in/e5FrMPGU   This review of #BeyondGDP policy strategies is the last in a series of three 3️⃣. Stay tuned for more new project findings here soon.

5️⃣ days left to express your interest in joining the Global South Insights Lab online 🌏. As part of the Lab, we will take a closer look at country-specific contexts and their perspectives on #wellbeing, #inclusion and #sustainability

As #inclusion is a main pillar of the #WISEHorizons project, we want to ensure that the findings from our work hold true in different settings, including non-European and non-Western contexts. With the aim of bringing the perspectives of the global majority to the forefront, our project team will host a virtual Global South Insights Lab🌐on March 20th from 9-12 CET. This lab will follow up on two previous co-creative workshops, the Future and #JustTransition Labs, held in fall 2023.    For the upcoming Global South Insights Lab, we invite participants from diverse backgrounds with lived experience from the Global South (personal or professional) to provide input, either by validating or challenging results from the following WISE Horizons project activities:  ➡ the Future and Just Transition Labs, wherein participants engaged in scenario planning towards 2050 focusing on WISE dimensions and then refined these scenarios by considering potential trades-offs and tensions that could emerge.   ➡The WISE Theory of Institutional Change (about to be published), which outlines how the WISE dimensions can supersede the current focus on economic growth and facilitate change in political institutions.   ➡The WISE Global Report: Global Analysis, which focuses on the developments of wellbeing, inclusion, sustainability, and the economy since 1820, covering around 150 countries and looking at regional aggregates. If you or someone you know would be a good fit for this event, we encourage you to fill out this Expression of Interests form as soon as possible to secure your spot: https://lnkd.in/eBSzF39m As there are limited spots, participants will be informed individually of whether they were selected. Apply now! Learn more about the event details here: https://lnkd.in/eFSXrWkW Rutger Hoekstra Jaap Arntzen

Traditional macroeconomic models and paradigms based on equilibrium thinking and GDP-centric measurements have in many instances proven inadequate in addressing the urgent challenges of climate change and rising inequality. A cross-disciplinary community of researchers and practitioners has called for new approaches focused on #Wellbeing, #Inclusion, and #Sustainability (WISE).  📌This report from the EU-funded #WISEHorizons project compares the strengths and weaknesses of five different types of macroeconomic #models 📊 : 1. General equilibrium models, 2. Macro-econometric & input-output models, 3. Stock-flow consistent models, 4. Integrated assessment models, and 5. System dynamics models.  📌 The authors find that existing models often fail to capture the complex interrelationships between economic, societal and environmental systems. They suggest incorporating more WISE indicators into existing models, and explore potentials for constructing a new, integrated model so that we can move from a focus on economic growth to inclusive and sustainable wellbeing.  How? ➡ Applying #heterodox ideas within macroeconomic models for more meaningful and accurate assessments of societal progress   ➡Integrating detailed data (WISE accounts) for greater representation of #Wellbeing, #Inclusion, and #Sustainability (WISE) dimensions   ➡Modelling feedback loops using system dynamics models  ➡Using co-creation and involving stakeholders in the development of macroeconomic models to enhance ownership and uptake. Find out more here: https://lnkd.in/ei4Fx6E3 __________________ This review of macroeconomic approaches to modelling is the second 2️⃣ in a series of three 3️⃣. Next up: A review of policy strategies around the world  

For decades, Gross Domestic Product (GDP) has been criticised as a measure of social progress. But what comes after it? ❓🤔 There are many alternative measures, known as Beyond-GDP metrics. But how do they relate to the wellbeing of current generations (#Wellbeing), the distribution of wellbeing (#Inclusion), and the wellbeing of future generations (#Sustainability)? 📌 In this report, the EU-funded #WISEHorizons project has reviewed and synthesised the most important Beyond-GDP metrics according to how they relate to these dimensions. The authors focused on the similarities rather than the differences between metrics, and categorised Beyond-GDP metrics stemming from many diverse schools of thought. 📌 The report also includes an in-depth discussion of eleven dashboards used in European #policymaking. The analysis shows that between sustainability, wellbeing, and inclusion, it is sustainability that is currently the main political priority. In particular, its environmental dimension is strongly enacted with many binding political targets. Above all, the review demonstrates the potential and power of metrics to effectively steer policymaking in desirable directions. 🛤 Find out more here ➡ https://lnkd.in/ecgNh8eC   __________________  This review of #BeyondGDP metrics is the first 1️⃣ in a series of three 3️⃣. Next up: A review of macroeconomic approaches to modelling wellbeing, inclusion, and sustainability.

How can the models we use in policymaking contribute to a green and just transition? And how can they better incorporate the knowledge and perspectives of those historically marginalised from policy and decision making? Last week, we came together in Brussels as a diverse group of people for the WISE Horizons #JustTransition Lab. Participants did not shy away from moving out of their comfort zones: We tackled a range of difficult questions, such as the global dimension of climate, demographic, and economic changes or how local social capital influences the needs of different communities. We also explored established power structures and critically debated the limitations of different modelling perspectives. Such discussions aren't easy. In the end, participants reported feeling: confident, grateful, lost, inspired - diversity resonated with all of us. Much was learned in these discussions. We're grateful for each and every contribution and will take the insights forward in the upcoming work around #wellbeing, #inclusion and #sustainability at #WISEHorizons.