Which economic activities currently serve the future you are trying to create and which activities actively works against it in the long term?
Standard economic strategy design is often ‘deficit-based’ in the sense that it focuses on the need for external investment, technology or skills as the way of fostering economic development. However, as you work towards building a wellbeing economy, it can be useful to take a strength-based approach whereby you identify the existing economic activities, skills and behaviours that are already positively contributing to wellbeing. This will help you to develop an economic strategy that builds on the existing strengths and capacities in your community as the building blocks for your wellbeing economy.
The process of engaging people in economic discussions and decision making is important for long-term transformation as it helps us to ground our understandings of the economy in lived experiences rather than theoretical models and shift our popular narratives regarding the purpose of the economy.
The identification of positive economic activities will be a critical starting point for considering how to best foster the areas of the economy most important for wellbeing so you can prioritise policy efforts in these areas.
These discussions can help to expand your understanding of value and consider areas of life that have traditionally been excluded from economic analysis, such as household work or environmental stewardship. This process is important, as it helps people to embrace a new narrative about the economy and its purpose, and to visualise their role in a new one.