Assessing & reforming existing policies
To assess and adapt existing policies (e.g. regulations, social services, taxes, etc.) to be in line with your wellbeing priorities
Assessing and selecting wellbeing economy policies
Purpose
To design policies and reforms that can transition society to a wellbeing economyTransformation of systems rarely occurs from the introduction of a single policy, but rather through a series of policy reforms that redefine rights and responsibilities and encourage certain activities and behaviours relative to others. Governments have a broad range of policy tools which they can use to influence the shape and form of the economy, such as:
- Legislation / Regulations – Define the rights and responsibilities of various stakeholders in society by requiring or prohibiting particular activities and/or behaviours (e.g., property rights, competition policy, and environmental protections).
- Incentives – Encourage or reward particular types of activities and behaviours (e.g., grants, subsidies, tax rebates).
- Disincentives – Discourage particular types of activities or behaviours (e.g., tariffs, taxes, fees).
- Information Campaigns – Gather and disseminate information to encourage or discourage particular behaviours (e.g., buy-local campaigns, databanks, certifications)
- Public Provision – The Government supplies or demands particular goods and services (e.g., education, infrastructure, public procurement).
- The Commons – Civil society management of collective resources (e.g., non- state or market governance).
In working to build a wellbeing economy, you will want to assess the alignment of the suite of policies and programmes already in place with your wellbeing goals and strategy. This requires collaboration across society to identify which existing policies and programmes should be expanded, adjusted, or phased out. Then you can co-create new policies or pilot programmes that can fill important gaps and help to manage your transition to a wellbeing economy.