“Economic growth without investment in human development is unsustainable and unethical ” - Amartya Sen (1999) In this chapter, we will focus on the well-being economy, which intention it is to ensure human well-being and sustainable development. As we will see, the concept of a well-being economy is complex. Since 2016, the University of Utrecht and Rabobank Research are publishing The Well-being Indicator which measures and weighs eleven dimensions that reflect the well-being of the Netherlands namely: safety, environment, health, subjective well-being, work-life balance, housing, education, material prosperity, civic engagement, social relationships, and jobs (RaboResearch and Utrecht, 2024). In the last report of 2023, they found that well-being in the Netherlands slightly declined during the COVID-19 pandemic and then slightly increased afterwards. Underlying factors such as job security, income, and personal development have steadily improved, while subjective wellbeing, housing, and health are worse off than in 2019. Even though perception of households might be different, the overall well-being in the Netherlands has changed little over the past three years. 4.1 Enhancing Household Well-being In the previous chapter, it became clear that economic growth, environmental sustainability, and social responsibility are interdependent and must be considered holistically through an approach known as systems thinking. As discussed, the overuse of natural resources is likely to lead to a decline in the well-being of all. Even though we recognise the importance of everyone, the individual’s position is often neglected. The Competitive Exclusion Principle, as described by Gause’s Law, provides a compelling analogy for understanding certain dynamics in social justice, particularly in relation to access to resources and opportunities. Just as in ecological systems where two species cannot coexist if they compete for the same resources, in societies, individuals or groups that compete for limited resources may face similar challenges. In a social justice context, this principle can highlight how systemic inequalities, and structural barriers create a competitive environment where not all groups have equal chances to succeed. my of Well-Being tment in human development is unsustainable on the well-being economy, which intention being and sustainable development. As we being economy is complex. Since 2016, the bank Research are publishing The Well-being d weighs eleven dimensions that reflect the amely: safety, environment, health, subjective ousing, education, material prosperity, civic s, and jobs (RaboResearch and Utrecht, 2024). y found that well-being in the Netherlands VID-19 pandemic and then slightly increased s such as job security, income, and personal proved, while subjective well-being, housing, 2019. Even though perception of households Chapter 4 17 4.1 Enhancing Household Well-being
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