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Towards a wellbeing economy: Portuguese policymakers’ perspectives

Author

Listed:
  • Margarida Casau

    (University of Aveiro, Department of Economics, Management, Industrial Engineering and Tourism
    GOVCOPP - Research Unit in Governance, Competitiveness and Public Policy)

  • Marta Ferreira Dias

    (University of Aveiro, Department of Economics, Management, Industrial Engineering and Tourism
    GOVCOPP - Research Unit in Governance, Competitiveness and Public Policy)

  • Gabriel Leite Mota

    (Higher Institute of Social Service of Porto (ISSSP)
    Institute of Sociology of the University of Porto (IS-UP))

Abstract

This study investigates the perspectives of Portuguese policymakers on transitioning towards a wellbeing economy, challenging the prevailing emphasis on Gross Domestic Product (GDP) growth as the primary objective of economic policy. Using a qualitative approach, the study incorporates semi-structured interviews with 16 Portuguese parliamentary deputies from across the political spectrum. The study investigates why wellbeing remains secondary to economic growth in policy frameworks. Findings reveal moderate familiarity with the “Beyond GDP” agenda and point to deep structural and cultural barriers to reform. These include political polarization, institutional inertia, and the financial system’s dependence on continuous growth. Importantly, an ideological divide emerged: while right-wing policymakers view economic growth as essential to prosperity, left-wing deputies emphasize the need to rebalance priorities towards human and ecological wellbeing. The study concludes by discussing the conditions needed to overcome these obstacles and the opportunities to implement a wellbeing economy, highlighting how institutional values and political ideologies can shape the reorientation of economic policy towards sustainability and human happiness.

Suggested Citation

  • Margarida Casau & Marta Ferreira Dias & Gabriel Leite Mota, 2026. "Towards a wellbeing economy: Portuguese policymakers’ perspectives," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 73(1), pages 1-27, June.
    • Handle: RePEc:spr:inrvec:v:73:y:2026:i:1:d:10.1007_s12232-025-00513-x
    DOI: 10.1007/s12232-025-00513-x
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    JEL classification:

    • I3 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics

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