IDEAS home Printed from https://ideas.repec.org/a/sae/ecolab/v30y2019i4p478-497.html
   My bibliography  Save this article

Wellbeing economics in public policy: A distinctive Australasian contribution?

Author

Listed:
  • Paul Dalziel

Abstract

The ‘Wellbeing Budget’ presented to the New Zealand Parliament in 2019 was widely described as a world-first. This article explores the possibility of a distinctive Australasian contribution to our understanding of wellbeing economics in public policy. The introduction section presents an analytical wellbeing framework showing how human actions draw on services provided by the country’s capital stocks to create and sustain personal and communal wellbeing. The second section chronicles some landmark policy initiatives in Australia and New Zealand for understanding and monitoring wellbeing, culminating in the Wellbeing Budget. The third section highlights four areas for further development: (1) the role of family wellbeing in intergenerational wellbeing, (2) the role of cultural capital in providing foundations for future wellbeing, (3) the role of Indigenous worldviews in enriching understandings of wellbeing and (4) the role of market enterprise in expanding capabilities for wellbeing. These are all areas where Australasian researchers have demonstrated expertise. JEL Codes : I31, I38, B54

Suggested Citation

  • Paul Dalziel, 2019. "Wellbeing economics in public policy: A distinctive Australasian contribution?," The Economic and Labour Relations Review, , vol. 30(4), pages 478-497, December.
    • Handle: RePEc:sae:ecolab:v:30:y:2019:i:4:p:478-497
    DOI: 10.1177/1035304619879808
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/1035304619879808
    Download Restriction: no
    File URL: https://libkey.io/10.1177/1035304619879808?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Duncan Ironmonger, 1996. "Counting outputs, capital inputs and caring labor: Estimating gross household product," Feminist Economics, Taylor & Francis Journals, vol. 2(3), pages 37-64.
    2. Victor Ginsburgh & David Throsby, 2013. "Handbook of the Economics of the Art and Culture," ULB Institutional Repository 2013/152408, ULB -- Universite Libre de Bruxelles.
    3. Thomas Carver & Arthur Grimes, 2019. "Income or Consumption: Which Better Predicts Subjective Well‐Being?," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 65(S1), pages 256-280, November.
    4. Patricia Apps & Ray Rees, 2018. "Optimal family taxation and income inequality," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 25(5), pages 1093-1128, October.
    5. Fiona Macdonald & Eleanor Bentham & Jenny Malone, 2018. "Wage theft, underpayment and unpaid work in marketised social care," The Economic and Labour Relations Review, , vol. 29(1), pages 80-96, March.
    6. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
    7. Peter Abelson, 2019. "Teaching Public Economics with Special Reference to Australian and US Cultures," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 52(3), pages 279-293, September.
    8. John Buchanan & Michelle Jakubauskas, 2010. "The Political Economy of Work and Skill in Australia: Insights From Recent Applied Research," Palgrave Macmillan Books, in: Jane Bryson (ed.), Beyond Skill, chapter 3, pages 32-57, Palgrave Macmillan.
    9. Alfred Dockery, 2010. "Culture and Wellbeing: The Case of Indigenous Australians," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 99(2), pages 315-332, November.
    10. Throsby,David, 2010. "The Economics of Cultural Policy," Cambridge Books, Cambridge University Press, number 9780521868259, January.
    11. Jim Stanford, 2017. "The resurgence of gig work: Historical and theoretical perspectives," The Economic and Labour Relations Review, , vol. 28(3), pages 382-401, September.
    12. Jenny Chesters & Hernan Cuervo, 2019. "Adjusting to new employment landscapes: Consequences of precarious employment for young Australians," The Economic and Labour Relations Review, , vol. 30(2), pages 222-240, June.
    13. David J. Teece, 2019. "A capability theory of the firm: an economics and (Strategic) management perspective," New Zealand Economic Papers, Taylor & Francis Journals, vol. 53(1), pages 1-43, January.
    14. T. W. Swan, 1956. "ECONOMIC GROWTH and CAPITAL ACCUMULATION," The Economic Record, The Economic Society of Australia, vol. 32(2), pages 334-361, November.
    15. Ben Gleisner & Fiona McAlister & Margaret Galt & Joe Beaglehole, 2012. "A living standards approach to public policy making," New Zealand Economic Papers, Taylor & Francis Journals, vol. 46(3), pages 211-238, December.
    16. Victor Ginsburgh & David Throsby, 2006. "Handbook of the economics of art and culture," ULB Institutional Repository 2013/1673, ULB -- Universite Libre de Bruxelles.
    17. Stephen Clibborn & Chris F Wright, 2018. "Employer theft of temporary migrant workers’ wages in Australia: Why has the state failed to act?," The Economic and Labour Relations Review, , vol. 29(2), pages 207-227, June.
    18. Stephanie Gorecki & James Kelly, 2012. "Treasury's Wellbeing Framework," Economic Roundup, The Treasury, Australian Government, issue 3, pages 27-64, October.
    19. Caroline Saunders, 2019. "Sustainable Agriculture – Life beyond Subsidies: Lessons from New Zealand," Journal of Agricultural Economics, Wiley Blackwell, vol. 70(3), pages 579-594, September.
    20. Julie Smith & Lindy Ingham, 2005. "Mothers' Milk And Measures Of Economic Output," Feminist Economics, Taylor & Francis Journals, vol. 11(1), pages 41-62.
    21. Arthur Grimes & les Oxley & Nicholas Tarrant, 2012. "Does Money Buy Me Love? Testing Alternative Measures of National Wellbeing," Working Papers 12_09, Motu Economic and Public Policy Research.
    22. Michael Bittman, 1999. "Parenthood Without Penalty: Time Use And Public Policy In Australia And Finland," Feminist Economics, Taylor & Francis Journals, vol. 5(3), pages 27-42.
    23. Throsby, David, 1994. "The Production and Consumption of the Arts: A View of Cultural Economics," Journal of Economic Literature, American Economic Association, vol. 32(1), pages 1-29, March.
    24. Barbara Pocock, 2016. "Holding up half the sky? Women at work in the 21st century," The Economic and Labour Relations Review, , vol. 27(2), pages 147-163, June.
    25. repec:taf:regstd:v:46:y:2012:i:3:p:211-238 is not listed on IDEAS
    26. AfDB AfDB, . "Annual Report 2012," Annual Report, African Development Bank, number 461.
    27. Apps, Patricia & Rees, Ray, 2018. "Optimal family taxation and income inequality," Munich Reprints in Economics 62832, University of Munich, Department of Economics.
    28. Wayne Lewchuk, 2017. "Precarious jobs: Where are they, and how do they affect well-being?," The Economic and Labour Relations Review, , vol. 28(3), pages 402-419, September.
    29. Iain Campbell & Robin Price, 2016. "Precarious work and precarious workers: Towards an improved conceptualisation," The Economic and Labour Relations Review, , vol. 27(3), pages 314-332, September.
    30. Matthew Gray & Monica Howlett & Boyd Hunter, 2014. "Labour market outcomes for Indigenous Australians," The Economic and Labour Relations Review, , vol. 25(3), pages 497-517, September.
    31. Dalziel, Paul & Saunders, Caroline & Tait, Peter & Saunders, John & Miller, Sini & Guenther, Meike & Rutherford, Paul & Driver, Tim, 2018. "Rewarding responsible innovation when consumers are distant from producers: evidence from New Zealand," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 21(4).
    32. Michael Bittman & Duncan Ironmonger, 2011. "Valuing Time: A Conference Overview," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 101(2), pages 173-183, April.
    33. Siobhan Austen & Therese Jefferson, 2019. "Crossing the Great Divide: Ostrom’s Coproduction and the Economics of Aged Care," Feminist Economics, Taylor & Francis Journals, vol. 25(3), pages 48-69, July.
    34. Mandy Yap & Eunice Yu, 2016. "Operationalising the capability approach: developing culturally relevant indicators of indigenous wellbeing – an Australian example," Oxford Development Studies, Taylor & Francis Journals, vol. 44(3), pages 315-331, July.
    35. John Taylor, 2008. "Indigenous Peoples and Indicators of Well-being: Australian Perspectives on United Nations Global Frameworks," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 87(1), pages 111-126, May.
    36. WorldFish, 2013. "Annual report 2012/13," Monographs, The WorldFish Center, number 40306, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Martijn Burger & Martijn Hendriks & Elena Ianchovichina, 2022. "Happy but Unequal: Differences in Subjective Well-Being across Individuals and Space in Colombia," Applied Research in Quality of Life, Springer;International Society for Quality-of-Life Studies, vol. 17(3), pages 1343-1387, June.
    2. Dean C. Stronge & Bryan A. Stevenson & Garth R. Harmsworth & Robyn L. Kannemeyer, 2020. "A Well-Being Approach to Soil Health—Insights from Aotearoa New Zealand," Sustainability, MDPI, vol. 12(18), pages 1-12, September.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Josip Franić, 2019. "Explaining workers’ role in illegitimate wage underreporting practice: Evidence from the European Union," The Economic and Labour Relations Review, , vol. 30(3), pages 366-381, September.
    2. Lichner, Ivan & Lyócsa, Štefan & Výrostová, Eva, 2022. "Nominal and discretionary household income convergence: The effect of a crisis in a small open economy," Structural Change and Economic Dynamics, Elsevier, vol. 61(C), pages 18-31.
    3. Bruno S. Frey & Andre Briviba, 2023. "Two types of cultural economics," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 70(1), pages 1-9, March.
    4. João Juchem Neto & Julio Claeyssen, 2015. "Capital-induced labor migration in a spatial Solow model," Journal of Economics, Springer, vol. 115(1), pages 25-47, May.
    5. Kawalec Paweł, 2020. "The dynamics of theories of economic growth: An impact of Unified Growth Theory," Economics and Business Review, Sciendo, vol. 6(2), pages 19-44, June.
    6. Tarek Roshdy Gebba & Mohamed Gamal Aboelmaged, 2016. "Corporate Governance of UAE Financial Institutions: A Comparative Study between Conventional and Islamic Banks," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 6(5), pages 1-7.
    7. van de Klundert, T.C.M.J. & Smulders, J.A., 1991. "Reconstructing growth theory : A survey," Other publications TiSEM 19355c51-17eb-4d5d-aa66-b, Tilburg University, School of Economics and Management.
    8. Mishra, Vinod & Smyth, Russell, 2014. "Convergence in energy consumption per capita among ASEAN countries," Energy Policy, Elsevier, vol. 73(C), pages 180-185.
    9. Chaikaew, Pasicha & Hodges, Alan W. & Grunwald, Sabine, 2017. "Estimating the value of ecosystem services in a mixed-use watershed: A choice experiment approach," Ecosystem Services, Elsevier, vol. 23(C), pages 228-237.
    10. Khalifa Hassanain, 2015. "Special Drawing Right and Currency Risk Management," International Journal of Economics and Financial Issues, Econjournals, vol. 5(3), pages 780-785.
    11. Matthias Firgo & Peter Mayerhofer, 2015. "Wissens-Spillovers und regionale Entwicklung - welche strukturpolitische Ausrichtung optimiert des Wachstum?," Working Paper Reihe der AK Wien - Materialien zu Wirtschaft und Gesellschaft 144, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik.
    12. Valentina Ciriotto & José Noguera-Santaella, 2023. "The Catching up in Steady State per Capita Income: Latin America and the Caribbean," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 51(1), pages 71-82, March.
    13. Filipa Correia & Philipp Erfruth & Julie Bryhn, 2018. "The 2030 Agenda: The roadmap to GlobALLizaton," Working Papers 156, United Nations, Department of Economics and Social Affairs.
    14. George Halkos & Iacovos Psarianos, 2016. "Exploring the effect of including the environment in the neoclassical growth model," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 18(3), pages 339-358, July.
    15. Martina Vukašina & Ines Kersan-Škabiæ & Edvard Orliæ, 2022. "Impact of European structural and investment funds absorption on the regional development in the EU–12 (new member states)," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 17(4), pages 857-880, December.
    16. Sudip Ranjan Basu, 2005. "Correlating Growth with Well-Being during Economic Reforms Evidence from India and China," Development and Comp Systems 0509010, University Library of Munich, Germany.
    17. Liu, Tung & Li, Kui-Wai, 2006. "Disparity in factor contributions between coastal and inner provinces in post-reform China," China Economic Review, Elsevier, vol. 17(4), pages 449-470.
    18. Asongu, Simplice & Amavilah, Voxi & Andrés, Antonio R., 2014. "Economic Implications of Business Dynamics for KE-Associated Economic Growth and Inclusive Development in African Countries," MPRA Paper 63793, University Library of Munich, Germany.
    19. Robert M. Solow, 2000. "La teoria neoclassica della crescita e della distribuzione," Moneta e Credito, Economia civile, vol. 53(210), pages 149-185.
    20. Tisdell, Clem, 2011. "Biodiversity conservation, loss of natural capital and interest rates," Ecological Economics, Elsevier, vol. 70(12), pages 2511-2515.

    More about this item

    Keywords

    Australia; capabilities; New Zealand; wellbeing; wellbeing budget;
    All these keywords.

    JEL classification:

    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
    • B54 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Feminist Economics

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:ecolab:v:30:y:2019:i:4:p:478-497. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.