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Wellbeing economics in public policy: A distinctive Australasian contribution?

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  • 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
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    Cited by:

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    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.

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    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

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