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Emerging Economic Operating Infrastructure to Support Wellbeing Economies

Author

Listed:
  • Steve Waddell

    (Bounce Beyond)

  • Sandra Waddock

    (Boston College Carroll School of Management)

  • Simone Martino

    (The James Hutton Institute)

  • Jonny Norton

    (Bounce Beyond)

Abstract

Many efforts are focused on transformation to wellbeing economies as economies oriented towards equity, social justice, and human wellbeing in a flourishing natural environment (wellbeing economics). Drawing from analysis of innovations associated with these efforts, we emerge a framework of wellbeing-oriented ‘economic operating infrastructure’ (EOI). This is presented as a typology of six core types of economic transformation innovations nested from innovations with the broadest reach (narratives) to the most specific (products and services). Development of the typology was guided by a set of wellbeing economies values that help in identifying which innovations to include. The innovations were identified by research on the internet, technical reports, and published articles. The typology elements are: innovations in economic narratives; governance; financing mechanisms; exchange mechanisms; business structures; and the products and services derived from them. Examples are presented in each category to illustrate how this infrastructure is emerging in alignment with establishing wellbeing economies. This exploratory and descriptive typology provides a preliminary framework for developing a strategic approach to economic transformation through wellbeing economic infrastructure development. Four EOI-based activities are identified to accelerate this transformation.

Suggested Citation

  • Steve Waddell & Sandra Waddock & Simone Martino & Jonny Norton, 2023. "Emerging Economic Operating Infrastructure to Support Wellbeing Economies," Humanistic Management Journal, Springer, vol. 8(1), pages 63-88, April.
    • Handle: RePEc:spr:humman:v:8:y:2023:i:1:d:10.1007_s41463-023-00145-9
    DOI: 10.1007/s41463-023-00145-9
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    References listed on IDEAS

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    More about this item

    Keywords

    Social change; Economic change; Socio-economic transformation;
    All these keywords.

    JEL classification:

    • P41 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Planning, Coordination, and Reform
    • B59 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Other
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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