Navigating Towards a Well-Being Economy: Need for a Robust Theory of Change; Comment on “Can a Well-Being Economy Save Us?”

Articles in Press

Document Type : Commentary

Author

School of Psychology and Public Health, La Trobe University, Melbourne, VIC, Australia

Abstract

In his recent editorial, Professor Labonté1 surveyed international initiatives calling for a well-being global economy. Most of these initiatives offer glowing visions but implausible theories of change. The 1974 United Nations call for a New International Economic Order (NIEO) provides a case study of an earlier instance of well-being economics (although not labelled as such). The NIEO included specific institutional and regulatory initiatives directed to achieving a fairer and more liveable world. However, it was defeated through the rise of neoliberalism from the 1980s as well as internal contradictions within the movement for a NIEO. The history of the NIEO provides useful lessons regarding the political dynamics of global transformation. Any policy initiatives, directed towards reforming the global economy for the well-being of people and planet, need to be based on a robust theory of change.

Keywords

References

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International Journal of Health Policy and Management

Articles in Press, Corrected Proof
Available Online from 06 January 2025

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History

  • Receive Date: 28 October 2024
  • Revise Date: 17 December 2024
  • Accept Date: 05 January 2025
  • First Publish Date: 06 January 2025

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