International Seminar on “Economy and Well-Being: Implications for Investment”
Thursday 14th May 2015, GHFP. Brighton. UK.
Co-convened with the New Economics Foundation, the primary purpose of this GHFP seminar was to explore the fundamental ideas, principles and practices that would form the basis of an economy that is truly centred on human well-being.
The discussion took place in two parts.
In the first part, we explored these ideas in general terms, in order to establish a shared understanding about what an economy based on well-being might look like and what the essential features of such a system would be.
The second part of our exploration focused on applying these ideas to a specific area – investment. In this context, by ‘investment’ we don’t mean trading in shares, bonds, futures and derivatives, but rather injections of capital into research, design, development and manufacture of new consumer goods, services and means of production. We suggest this focus because such investment strategically shapes the future content of the economy.
The main question we discussed was: “How should the institutions concerning investment be re-conceived for an ecologically sound economy that is based on human well-being?” In other words, if we were to redesign investment institutions according to the principles of human well-being, what should these associated concepts look like? How would investment institutions need to be in order to make such a re-conception real?
The central questions of the seminar were broad in order to give contributors the opportunity to focus the discussion on what they see as the key elements in any new thinking on these topics, and to explore different approaches. We also intentionally left the scope of the discussion open so that it was not restricted to the particularities of any country.