Leading academics and economists call for the people of Scotland to have more of a say in the decisions that impact their lives
A group of leading academics and economists have published a new report which highlights how our economy is failing the people of Scotland and calls for a public conversation about our economy. The report, called Evidence review to support the development of a Wellbeing Economy strategy in Scotland, states that "The current economic design in Scotland, and which is dominant across the world, is an important cause of the multiple crises we face."
In the midst of multiple, growing crises, including financial and environmental challenges, the report goes on to say that "14 years of austerity have had devastating consequences across the UK, not least on population health and life expectancy trends."
Aileen McLeod, Director of the Wellbeing Economy Alliance Scotland, says: "In a just and compassionate Scotland everyone should have the opportunity to thrive. But right now people are struggling as we face increasing financial and environmental crises caused by our outdated economic model. We need to include the people of Scotland in the conversation about how we redesign our economy so that it delivers social justice on a healthy planet. We need a Wellbeing Economy."
Gerry McCartney, Professor of Wellbeing Economy at the University of Glasgow, says: "The Scottish Government should be commended for championing the idea that a new approach to the economy is needed. But the current economic strategy is too similar to what we have seen for many years, and there are too many contradictions between the ongoing pursuit of economic growth and a Wellbeing Economy.
"We need a step-change to protect against climate change, to reduce poverty, and to create a flourishing society. The high inequalities and poverty in Scotland are generating unsustainable demands on our public services. The environmental damage caused by our reliance on fossil fuels creates higher demands for government spending to fix these problems. Our individualised approaches to solving current challenges are missing opportunities to create a public realm that is sustainable and equitable."
The report highlights a number of recommendations for updating Scotland's economic strategy, including a rebalancing of economic power towards the interest of the majority, the development of better models for understanding the economy and greater accountability for the Scottish Government in embedding a participatory approach to policy making. Central to the report is a call for the people of Scotland to have more of a say in the decisions that impact their lives.
Clemmie Hill O'Connor, Research Fellow from Glasgow University, says: "It's essential that the people of Scotland play a central role in designing our economy and shaping the decisions that impact our everyday lives. Including people in decision making and drawing on their expertise is key in finding the right solutions to build a Wellbeing Economy. This form of deliberative approach brings people and communities together to find mutually agreed solutions and helps to avoid unintended consequences.
"We are calling on the Scottish Government to conduct, and meaningfully engage with, a population-wide deliberative process to decide what the purpose of the economy is, and to redesign our economy to meet the aspirations of the population."
Iain Black, Professor of Sustainable Consumption at the University of Strathclyde Business School, says: "This report highlights why, without radical change, the Scottish Government will fail to achieve its core missions including eradicating child poverty. The report shows through a lack of understanding of a Wellbeing Economy, their current economic approach which follows and extractive, growth based model will consistently undermine their own well-meaning efforts to address persistent and critical environmental and social issues."
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