SOSTE produced a report for the Finnish Ministry of Social Affairs and Health as a part of the preparation for the Finland’s EU presidency in 2019.
Wellbeing policies and economic policies are closely intertwined and mutually reinforcing. Economic growth improves people’s wellbeing, while wellbeing and health of the population enhance economic growth and stability. From the policy perspective the wellbeing economy provides a holistic and horizontal approach which can:
- Increase our understanding of how different kind of investments in welfare and wellbeing sector enhance productivity and economic growth and cut back public expenditures in the long run by enhancing cost-effectivess of services;
- Highlight the importance of evaluating how different policy measures affect the wellbeing of people;
- Explain how the wellbeing sector can benefit from and contribute to the other sectors of the economy and areas of society.
Contents of the Report
Introduction
Wellbeing economy perspective in policy proposals and research of international organizations
The Organisation for Economic Co-operation and Development (OECD)
International Monetary Fund (IMF)
World Bank
World Health Organization (WHO)
International Labour Organization (ILO)
United Nations (UN)
Conclusions
References
Jussi Ahokas is the chief economist of SOSTE the Finnish Federation for Social Affairs and Health and Päivi Rouvinen-Wilenius is a senior advisior in the SOSTE the Finnish Federation for Social Affairs and Health. Read more about Wellbeing Economy in Finland.
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