The Inclusive Economy

Published on 14 July 2024

Development agencies and philanthropic trusts have traditionally been focusing on
poverty reduction based on the orthodox economic growth model in which profit
maximisation and efficiency are prominent, as emphasised by traditional international
development agendas. When adopting the concept of human wellbeing as our starting
point, we find that development should no longer only be about reducing poverty but
should instead be about fundamentally confronting the origins of the unequal distribution
of human wellbeing that currently exists in the world.
This is framed in terms of an understanding of sustainability that goes well beyond the
natural environment, by explicitly including aspects of global social and political
sustainability. Recognising that the purpose of development is the promotion of human
wellbeing helped to focus our discussion. At the same time, it opened up and changed
the agenda of issues that are at stake. This focus offered a new, powerful perspective
with a great potential to confront the challenges that humanity is faced with today. If we
adopt this significantly different perspective on what we are doing, how does this impact
the way we look towards the future?

Cite this publication

Verstappen, S (2012) 'The Inclusive Economy' Bellagio Initiative, Brighton: IDS

Publication details

published by
Verstappen, Steffie


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