R05: Sustainable and Just Wellbeing Economies for People and Planet

In the pursuit of constant economic growth and development, we have come to neglect the wellbeing of not just the people, but of nature, of our planet and all life and non-life within it. As humanity and nature alike face unprecedented crises, we need to shift our prioritisations of our economies into one that works for all: an economy that emphasises human and ecological wellbeing in measure and pursuit, equalises the Global South through a decolonial economic order, and putsrecognizes care atas one of its centrecentral pillars.

In the pursuit of constant economic growth and development, we have come to neglect the wellbeing of not just the people, but of nature, of our planet and all life and non-life within it. As humanity and nature alike face unprecedented crises, we need to shift our prioritisations ofchange our economies into onepriorities, so that we build an economy that works for all: an economy that emphasises human and ecological wellbeing in measure and pursuit, equalises the Global South through a decolonial economic order, and puts care at its centre.

For several decades, growth of Gross Domestic Product (GDP) and an increase in prosperity have been understood synonymously. GDP is not designed to measure social and ecological wellbeing, yet it is the most commonly used indicator of a country's overall prosperity. The currently dominant view in economics still defines development as an indiscriminate growth of GDP and considers the environment and the society as a mere ‘externality’ of the system, ignoring its failure to internalise the tremendous social and ecological costs.

For several decades, growth of Gross Domestic Product (GDP) and an increase in prosperity have been understood synonymously. GDP is not designed to measure social and ecological wellbeing, yet it is the most commonly used indicator of a country's overall prosperity. The currently dominant view in economics still defines development as an indiscriminate growth of GDP and considers the environment and the society as a mere ‘externality’ of the system, ignoring itsdevelopment's failure to internalise the tremendous social and ecological costs.

As Greens, we reject this evident fallacy of increase of GDP with that of prosperitywellbeing, and instead propose alternative economic indicators that prioritise human and ecological wellbeing. Alternative indicators such as the Human Development Index by the UNDP, the Happy Planet Index, the Genuine Progress Indicator, the Better Life Index by the OECD, the SAGE index, or the Gross National Happiness are all more accurate indicators of economic performance which account for social and environmental factors as well.

Capitalist pursuit of growth and purely economic indicators such as GDP conceal the crucial role of caregivers, especially women who still bear a disproportionate responsibility for caring duties. By underpaying care workers and underfinancing public welfare systems, we exploit caregivers and ignore their central role to the functioning of economies. And when planetary boundaries and the well-being of nature is not part of the financial models, we do not take into consideration the basis of our existence - a healthy ecosystem and a liveable planet.

By not awarding family, elderly, community, and environmental care, we exploit caregivers and ignore their central role to the functioning of economies. Exploitative Global North and South relations are reproduced in the exploitation of migrant workers for care work. Welfare systems fail to adequately support caregivers, leading to financial insecurity, exploitation, and poverty, or single mothers, farmers, elderly caregivers, and so many more.

Capitalist pursuit of growth and purely economic indicators such as GDP conceal the crucial role of caregivers, especially women who still bear a disproportionate responsibility for caring duties. By not awarding family, elderly, community, and environmental care, we exploit caregivers and ignore their central role to the functioning of economies. Exploitative Global North and South relations are reproduced in the exploitation of migrant workers for care work. Welfare systems fail to adequately support caregivers, leading to financial insecurity, exploitation, and poverty, or single mothers, farmers, elderly caregivers, and so many more.

Capitalist pursuit of growth and purely economic indicators such as GDP conceal the crucial role of caregivers, especially women who still bear a disproportionate responsibility for caring duties. By not awarding family, elderly, community, and environmental care, we exploit caregivers and ignore their central role to the functioning of economies. Exploitative Global North and South relations are reproduced in the exploitation of migrant workers for care work. Welfare systems fail to adequately support caregivers, leading to financial insecurity, exploitation, and poverty, or single mothers, farmers, elderly caregivers, and so many more.

The economy focusing solely on indicators such as GDP fail to recognise the value of care work as well as domestic care and labour. This work is disproportionately carried out by women. Another group impacted by failure to recognise the value of care work are migrants who are also impacted by unbalanced economic relations between Global North and South. The failure to recognise and fairly compensate for these forms of work leads to a failure to recognise the central role of care work in our societies. This often leads to continued economic disadvantage throughout work life to retirement and renders the caretakers vulnerable with lesser possibility to enforce their labour rights. Caregivers can be in full-time or part-time employment, students, elderly, single mothers and in ever changing situations. Our social support systems and labour cannot continue failing at providing financial security and legal standing for all if we wish to eradicate poverty from our world.

Capitalist pursuit of growth and purely economic indicators such as GDP conceal the crucial role of caregivers, especially women who still bear a disproportionate responsibility for caring duties. By not awarding family, elderly, community, and environmental care, we exploit caregivers and ignore their central role to the functioning of economies. Exploitative Global North and South relations are reproduced in the exploitation of migrant workers for care work. Welfare systems fail to adequately support caregivers, leading to financial insecurity, exploitation, and poverty, orof single mothers, farmers, elderly caregivers, and so many more.

The Solution