Project description
A new economic paradigm based on well-being, inclusion and sustainability
Imagine a world in which well-being, inclusion and sustainability are objectives of all economic policies and practices. The EU-funded WISE Horizons project will design an economic paradigm that focuses on these objectives. Specifically, it will develop a theoretical and accounting framework that will link to various policy strategies and Beyond GDP metrics. By assessing the current and new economic paradigms from a global perspective with partners from Africa and China, the project will shed light on trade-offs and synergies. Findings will be analysed through a co-creative approach involving stakeholders and thematic and integrated models. A large WISE Horizons Stakeholder Network will be created which will assist in the ambitious communication strategy to promote a new debate and focus on a paradigm fit for the future.
Objective
WISE Horizons will inform and accelerate the transition to a new economic paradigm with wellbeing, inclusion and sustainability at its core. The project will create a state-of-the-art theoretical framework which synthesises the current post-growth initiatives through a novel and open access WISE accounting framework. The framework will define core terms and link to Beyond-GDP metrics, satellite accounts, policy strategies and the current generation of economic and integrated models. It will link to European policy strategies such as the Net-zero targets, the Circular Economy transition and Sustainable Competitiveness. With partners in Africa, the US and China it will also globally assess the current and new economic paradigms from the perspective of Sustainable Developments Goals.
Any transition will result in trade-offs and synergies between different elements of a new economy such as wellbeing, inclusion and sustainability. These will be empirically analysed and used to inform policy and society about the choices that will shape the future up to 2050. The historical empirical analyses will use the WISE database and thematic/integrated models that address the core questions and policies of the post-growth society will be created by leading experts/institutes in the field of Beyond-GDP, inequality, sustainability and post-growth economics.
To maximise the impact of the project, the WISE stakeholder Platform, which is a “network of networks” will be created and the groups involved in the WISE Platform will be engaged in communication, dissemination and exploitation. The empirical research involved in this project will be done in a novel co-creative approach involving stakeholders in 5 co-creation labs/workshops. Special attention is given to individuals that are negatively affected by the transformation. An ambitious communication strategy will facilitate a new public debate away from the standard economic paradigm and towards a new paradigm fit for the future.
Fields of science
Keywords
Programme(s)
Funding Scheme
HORIZON-RIA - HORIZON Research and Innovation ActionsCoordinator
2311 EZ Leiden
Netherlands