Tilting the Scale
A Theoretical Framework to re-direct Public Policy away from Economic Growth towards Sustainable and Inclusive Wellbeing
This theoretical framework for the WISE Horizons project develops a theory of institutional change conceptualising how narratives influence the policies, governance, and technical infrastructure (i.e. the metrics, accounts, and macroeconomic models) that shape our societies.
The authors apply this theory of institutional change to examine both the enduring dominance of the economic growth narrative in public policy and the reasons behind the limited success of new narratives. Moreover, the report provides an interdisciplinary synthesis to guide the selection and development of metrics, accounting frameworks, and macroeconomic models in line with the emerging sustainable and inclusive wellbeing narrative. The report concludes with eight practical recommendations to advance the sustainable and inclusive wellbeing narrative.
