The Times Australia
The Times World News

.
Men's Weekly

.

Australia's first wellbeing framework is about to measure what matters – but it's harder than counting GDP

  • Written by Robert Costanza, Professor of Ecological Economics, UCL
Australia's first wellbeing framework is about to measure what matters – but it's harder than counting GDP

In an implicit admission that the Commonwealth budget may not measure what really matters, Treasurer Jim Chalmers is about to release what he is calling “Measuring What Matters[1]” – Australia’s first national wellbeing framework.

The statement was to have been released as part of this year’s May budget, and an earlier hurriedly-prepared[2] attempt was included in Chalmers’ 2022 budget.

Chalmers’ description of it as Australia’s “first[3]” national wellbeing framework is an acknowledgement that first wellbeing statement didn’t amount to a framework. Chalmers says he is “up for the necessary conversations” needed to improve the framework further.

The one he is about to release has benefited from more than 280[4] submissions and the time needed to distil everything that matters for wellbeing into five broad themes, made up of about 50 indicators the treasury will track through time.

Chalmers says the themes are the extent to which Australia is

  • healthy

  • secure

  • sustainable

  • cohesive

  • prosperous.

In what turned out to be a parallel process, we have been developing what we call an “integrated science of wellbeing[5]” and have just published a book with 21 contributions on the subject through Oxford University Press.

One of us has a background in psychology, one in medicine, and two in social sciences, ecology, and economics.

Among the 45 authors who have contributed chapters are specialists in a range of topics, including ageing, architecture, biodiversity, compassion, governance, Indigenous studies, population, psychology, sustainability, and trauma.

Everything is connected

All of the authors were asked to relate their work to other aspects of wellbeing, so that each chapter considered interconnections.

Behind this was an understanding that things depend on each other – meaning that giving a score to one element of wellbeing, without examining how it impacts on other elements of wellbeing, can give us the wrong idea about how to make things better.

Oxford University Press[6] As an example, anger is generally regarded as deleterious to wellbeing and worth minimising. But if minimising anger meant less action on climate change, minimising it might make us worse off. And some of the things that are incredibly important for wellbeing are hard to measure, including what happens within relationships or access to sunlight. Related to these are the design of cities and their integration with hospital and health services. These matter for the quality of dying, as well as living. Lying behind much of what matters is inequality – which can be worsened by a misplaced focus on GDP growth at all costs – and the natural environment, most of which is missing from standard measures of GDP. Global work on wellbeing At the government level, wellbeing is being espoused by the Wellbeing Economy Governments[7] (which so far includes Scotland, New Zealand, Iceland, Wales, Finland, and Canada). It’s also being coordinated across the hundreds of groups working on this issue by the Wellbeing Economy Alliance[8], funded by philanthropic foundations. While their objectives are still being refined, they (and Chalmers’ objectives) don’t differ much from the five goals identified more than 30 years ago by pioneers in the field of ecological economics[9]: to stay within planetary biophysical boundaries to meet all fundamental human needs to create and maintain a fair distribution of resources, income, and wealth to bring about an efficient allocation of resources that allows human development and flourishing to create governance systems that are transparent, fair, responsive, just and accountable. We are about to find out how well Chalmers and his department have integrated these objectives, and how well they think Australia is doing. Read more: Australia's wellbeing budget: what we can – and can't – learn from NZ[10] References^ Measuring What Matters (treasury.gov.au)^ hurriedly-prepared (cdn.theconversation.com)^ first (ministers.treasury.gov.au)^ 280 (ministers.treasury.gov.au)^ integrated science of wellbeing (academic.oup.com)^ Oxford University Press (academic.oup.com)^ Wellbeing Economy Governments (wellbeingeconomy.org)^ Wellbeing Economy Alliance (weall.org)^ ecological economics (www.google.com.au)^ Australia's wellbeing budget: what we can – and can't – learn from NZ (theconversation.com)

Read more https://theconversation.com/australias-first-wellbeing-framework-is-about-to-measure-what-matters-but-its-harder-than-counting-gdp-209868

Times Magazine

From Beach Bops to Alpine Anthems: Your Sonos Survival Guide for a Long Weekend Escape

Alright, fellow adventurers and relaxation enthusiasts! So, you've packed your bags, charged your devices, and mentally prepared for that glorious King's Birthday long weekend. But hold on, are you really ready? Because a true long weekend warrior kn...

Effective Commercial Pest Control Solutions for a Safer Workplace

Keeping a workplace clean, safe, and free from pests is essential for maintaining productivity, protecting employee health, and upholding a company's reputation. Pests pose health risks, can cause structural damage, and can lead to serious legal an...

The Science Behind Reverse Osmosis and Why It Matters

What is reverse osmosis? Reverse osmosis (RO) is a water purification process that removes contaminants by forcing water through a semi-permeable membrane. This membrane allows only water molecules to pass through while blocking impurities such as...

Foodbank Queensland celebrates local hero for National Volunteer Week

Stephen Carey is a bit bananas.   He splits his time between his insurance broker business, caring for his young family, and volunteering for Foodbank Queensland one day a week. He’s even run the Bridge to Brisbane in a banana suit to raise mon...

Senior of the Year Nominations Open

The Allan Labor Government is encouraging all Victorians to recognise the valuable contributions of older members of our community by nominating them for the 2025 Victorian Senior of the Year Awards.  Minister for Ageing Ingrid Stitt today annou...

CNC Machining Meets Stage Design - Black Swan State Theatre Company & Tommotek

When artistry meets precision engineering, incredible things happen. That’s exactly what unfolded when Tommotek worked alongside the Black Swan State Theatre Company on several of their innovative stage productions. With tight deadlines and intrica...

The Times Features

Running Across Australia: What Really Holds the Body Together?

How William Goodge’s 3,800km run reveals the connection between movement, mindset, and mental resilience As a business owner, I’ve come to realise that the biggest wins rarely com...

Telehealth is Transforming Healthcare Services in Australia

It has traditionally not been easy to access timely healthcare in Australia, particularly for people who live in remote areas. Many of them spend hours on the road just to see a...

Launchd Acquires Huume, Strengthening Creative Firepower Across Talent-Led Marketing

Launchd, a leader in talent, technology and brand partnerships, has announced its acquisition of influencer talent management agency Huume from IZEA. The move comes as the medi...

Vietnam's "Gold Coast" Emerges as Extraordinary Investment Frontier and Australian Inspired Way of Life

$2 Billion super-city in Vung Tau set to replicate Australia's Gold Coast success story A culturally metamorphic development aptly named "Gold Coast" is set to reshape Vietna...

Choosing the Wrong Agent Is the #1 Regret Among Aussie Property Sellers

Selling your home is often one of the largest financial transactions you’ll make, and for many Australians, it’s also one of the most emotional. A new survey of Australian home se...

Travel Insurance for Families: What Does it Cover and Why it’s Essential

Planning a family trip is exciting, but unexpected mishaps can turn your dream vacation into a stressful ordeal. That’s where travel insurance comes in—it’s your safety net when ...