Economic Modelling

Successful management of a wellbeing economy depends on the quality of the economic model. The Inclusivity Project model predicts society's wellbeing output on the basis of its structured inputs. The model accommodates contributions from researchers into the output and interaction of any aspect of an economy's input to wellbeing.

Each pillar of the economy influences the wellbeing output. An economy's structure determines the relative strength of the respective pillar. A predictable relationship exists between each of the pillars and the wellbeing generated by an economy.  This provides the opportunity to assess the impact of wellbeing on different economic and social policies.

The chart above illustrates the model applied to world economies in 2019. The outcomes compare the model's predicted wellbeing with actual wellbeing. This allows an additional evaluation of the effectiveness of the model and the reliability of our measurement of actual wellbeing.