Why Governments Should Prioritize Well-being

In a TED Talk titled “Why governments should prioritize well-being,” Nicola Sturgeon, the First Minister of Scotland, discusses the importance of shifting the focus from GDP as the ultimate measure of a country’s success to a “well-being economy” that considers factors like equal pay, childcare, mental health, and access to green space [[5]]. Sturgeon argues that this new approach could help build resolve to confront global challenges and create a more sustainable and equitable society.

Well-being Economy Governments

In 2018, Scotland, Iceland, and New Zealand established the network of Well-being Economy Governments to challenge the acceptance of GDP as the sole measure of a country’s success. This partnership aims to promote a holistic approach to economic policies that prioritize the well-being of the population and the environment. By shifting the focus from purely economic indicators to well-being indicators, these governments seek to create a more inclusive and sustainable society.

Implications of a Well-being Economy

Sturgeon explains that a well-being economy places factors like equal pay, childcare, mental health, and access to green space at its heart. By prioritizing these aspects, governments can address social inequalities, improve the overall quality of life, and promote a healthier and happier population. Sturgeon argues that the goal of economic policy should be collective well-being, rather than solely pursuing GDP growth.

Global Challenges and Collective Action

Sturgeon emphasizes that a well-being economy can help build resolve to confront global challenges. By considering the impact of economic policies on well-being, governments can address issues such as climate change, social inequality, and mental health. This approach encourages collective action and cooperation among nations to create a more sustainable and prosperous future.

Conclusion

Nicola Sturgeon’s TED Talk highlights the importance of prioritizing well-being in government policies and shifting away from the sole reliance on GDP as a measure of success. By focusing on factors like equal pay, childcare, mental health, and access to green space, governments can create a more inclusive and sustainable society. This approach not only improves the overall quality of life but also helps address global challenges and promotes collective action.