A Youth Network Dialogue with Mads Falkenfleth, Director & Founder of the Wellbeing Economy Lab

As part of the “Youth Moving Beyond GDP” initiative, the Beyond Lab along with our Partners Rethinking Economics International recently hosted an energizing dialogue session for our Youth Network featuring Mads Falkenfleth. The session created a valuable space for exchange between emerging changemakers and experienced practitioners working at the forefront of economic transformation.

As Director & Founder of the Wellbeing Economy Lab, Falkenfleth joined the dialogue not only to share insights from his own journey, but to engage directly with the Youth Network, encouraging deeper collaboration across generations of experts and advocates. The intention of “Youth Moving Beyond GDP” is also to create opportunities for members to connect with fellow experts, challenge dominant economic thinking, and collectively shape new ideas for a more sustainable and equitable future. The discussions didn’t just focus on theory; but a shared roadmap for how the next generation can dismantle the "GDP-only" mindset and build a system centered on human and planetary needs.

The Catalyst: When Metrics Fail Reality

Falkenfleth reflected on how his own journey began in the wake of the 2008 financial crisis. He observed a startling disconnect: while economic models in Denmark were reporting one thing, the lived experience of people was entirely different.

"Everything was being measured through the lens of economics, even the value of Christmas gifts, yet it didn't resonate with what was actually happening in society".

This frustration led him to start a student research group that refused to wait for permission to find better models. As those students graduated, they turned their local curiosity into a national network, proving the power of young people organizing together to question assumptions and develop new approaches.

For Youth Network participants, this offered an important reminder: meaningful systemic change often begins through collaboration, experimentation, and the willingness to engage critically with established systems.

The Core Discussion: Breaking the GDP Monopoly

The discussion explored why GDP continues to dominate policymaking and what is needed to move beyond it. Why is our world still obsessed with GDP? Falkenfleth was direct: because politics demands it. To move "Beyond GDP," we have to provide politicians with the necessary incentives to adopt new systems and embrace alternative economic frameworks.

Key Insights from the dialogue:

• The Car Analogy: Relying solely on GDP to run a country is like trying to drive a car by looking only at the speedometer. To drive safely, you need a dashboard: fuel levels, engine temperature, and GPS. We need a similar multi-metric "dashboard" for our economy.

• Sufficiency over Consumption: In the Global North, we must move away from the idea that more is always better. Falkenfleth argues we can consume less and actually be better off, focusing on quality of life over quantity of goods.

• Needs-Based Statistics: Instead of "subjective wellbeing", participants discussed focusing on meeting concrete, foundational needs: shelter, food, cleanliness, and ecological safety.

• Predistribution: Another major topic was that we shouldn't just tax the rich after the fact (redistribution). We need to rethink who has access to resources and ownership from the very beginning.

The Aim: A People-Powered Paradigm

One of the most valuable aspects of the dialogue was the opportunity for Youth Network members to engage directly with an established expert in the field while also learning from one another. The conversation reinforced the importance of intergenerational collaboration and peer exchange in building momentum for systemic change. The goal of this dialogue was to bridge the gap between "designing new models" and "real-world policy". Falkenfleth highlighted that historical shifts, like those led by Hayek or the Heritage Foundation, happened because they had a clear alternative ready when the old system failed. The Youth Network plays a critical role in helping cultivate those alternatives and complementary approaches to GDP today.

By bringing together young leaders, researchers, practitioners, and policy thinkers, the “Youth Moving Beyond GDP” initiative and its Youth Network continue to create meaningful opportunities for different generations to expand their perspectives, strengthen relationships, and contribute to shaping people-centered economic solutions. The aim is to ensure that the transition to a sustainable economy is "People Powered", built on the principle: "No decision about us, without us" .

Let’s keep the momentum going. The car is moving, it’s time we changed the dashboard.

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