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Our approach

We contribute to the design and
implementation of wellbeing economy

WELA was established to support politicians and decision-makers across political divides in identifying evidence-based and long-lasting solutions to society's social and ecological challenges.

We develop the solutions based on three fundamental principles, as well as a methodological starting point in new economic thinking, systemic change and co-creation. 


Definition of a wellbeing economy:

An economic system that is focused on meeting the fundamental needs and rights for current and future generations within planetary boundaries.


Our basic principles:

We work with three connected core principles
for a wellbeing economy


The economic system is an instrument: The economic system is first and foremost an instrument that must be used to manage resources to achieve the overarching goal: to ensure good lives for both present and future generations. In this context, conventional economic goals such as growth and productivity should not be seen as ultimate goals, but rather as possible means whose relevance must be judged by their ability to advance this ultimate goal.

The planet sets hard limits: Earth is a "closed system" in terms of materials, with limited resources and absorption capacity. Therefore, it's essential to transform our economic system into one that respects planetary boundaries, ensuring that future generations also have the opportunity to lead good lives.


Wellbeing is multidimensional: Wellbeing as a phenomenon is complex and multidimensional. It is created in interaction between human and their surroundings and is measured using various indicators and methods. The multidimensional nature of wellbeing must be taken into account, both when it comes to developing solutions and methods, and especially in valuation in economic analyses.


Our method:

Our approach is designed to tackle interconnected challenges
across the economy, society, and ecological system.


New economic thinking:

We apply new economic thinking to understand our current economic system and identify and analyze the root causes of various problems that conventional economic policies often only address at the symptom level.


System thinking:

We perceive the economy as embedded in a society, which in turn is embedded in our ecological system. They form interconnected and complex systems, both separately and collectively. From a systemic perspective, we look for so-called "leverage points", where small adjustments can have a profound effect on the
entire system.



We recognize that diverse community participation is critical to success. By establishing strong alliances and collaborating with politicians, civil servants, business people, academics and experts, we create feasible and viable solutions together.



WELA will establish itself as a knowledge partner and knowledge center within the field of wellbeing economy with a particular focus on supporting politicians and decision-makers. We plan to ensure this through the following activities:

Broad communication on wellbeing economy
Through seminars, workshops, publications, and media appearances, we work to increase awareness and understanding of the principles of wellbeing. 

Policy analysis and policy response 
We conduct thorough analysis of existing and proposed policies to assess their impact on community wellbeing. We also prepare action-oriented recommendations for policy response and reforms. 

Method development and anchoring
We are engaged in the development and implementation of economic methods (e.g., for decision-making processes and impact assessments) that consistently respect our aforementioned fundamental principles.

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