WEALL study
2020-2023
What was the study about?
We set up a test to see if the wellbeing economy could be understood and compared to the current consumer based economy. We wanted to understand the level of awareness and whether people could be persuaded that a wellbeing economy was understandable, feasible and desirable. The survey used everyday language, relevant for people without a vested interest in the technical policies associated with running an economy.
First study to frame perceptions of a Wellbeing Economy vs Consumer Economy in UK.
What did we find out?
When offered a simple definition, twice as many people chose to live in a wellbeing economy rather than an economy where more things were available more cheaply.
When presented with a viable alternative, a majority of the UK population seem open to considering a new way of measuring success in economic terms. Framing the current status as the ‘consumer economy’, helps with the concept that there is a choice that can be made.
The next generation are four times more likely to want to live in a wellbeing economy with less ‘stuff’ than their parents and grandparents.
There is a clear difference in thinking between those under 40 and over 40, even more so at younger age levels.
Momentum seems to be building with frustration that success is measured in terms of things accumulated and there seems to be an opportunity to harness this mindset in embracing wellbeing economics approaches.
It requires simplicity in communications, the interest is in outcomes not policies to achieve the outcomes.
The most influential factor in preferring a wellbeing economy, regardless of age or pre-existing knowledge, was if you had had the opportunity to stay in education after the age of eighteen.
The clearest insight from the study was in education as a factor in considering an alternative approach to economics.
Given that education represents access to knowledge that in turn drives awareness, it seems the idea of a wellbeing economy can be communicated successfully to audiences of different ages nad background.
It also leads to a question of how wellbeing economics could sit in a UK curriculum.
Research output so far
Our interim report, presented at the Inaugural Annual Wellbeing Economy Wales Conference in November 2024, is now available to view and a full report into Wellbeing Economics in Wales will be published early 2025.
Watch the opening video from the conference
Played to an auditorium of around 500 people at the opening of the conference, our film tells the story of how a wellbeing economy is emerging in Wales. It includes conversations with diverse communities across the country and early insights from our survey.
Dialogue events summary film
As part of our research into Wales’ readiness for a Wellbeing Economy, we held six dialogue events with active communities across the country – many of whom are fighting to have their voices heard.
This film highlights key conversations that paint a picture of how a wellbeing economy could positively impact the daily lives of people in Wales.
Where was it distributed?
WEAll Global is an organisation with over 20 hubs around the work advocating for a new approach to economic systems that challenges the assumptions around production and consumption as singular goals as part of GDP assessment.
This study has helped inform hubs of the opportunity for engaging with their national populations as well as policy makers and grass roots activists.
The Wellbeing of Future Generations Act is overseen by the WFG commissioner Office and are tasked with holding the Welsh Government to account according to the seven pillars of the Act.
This study was shared, together with a Wellbeing Economy measurement paper to support the implementation of the WFG Commission seven year plan, of which a wellbeing Economy forms one of the five missions.
The Matilda Centre for Research in Mental Health and Substance Use is a multidisciplinary research centre linked to the University of Sydney and committed to improving the health and wellbeing of people affected by co-occurring substance use and mental disorders.
This study was shared as an example of how to engage with the general population when looking at wellbeing outcomes of government investment.