Reframing Welfare Index is a set of composite welfare indicators developed by KMOP Policy Centre and Ethos Lab aiming to measure and assess regional welfare disparities in Europe.
Social and individual welfare is more than just material wealth at the individual and social levels. It is a holistic aspiration of modern societies that reaches into the social, economic, political, financial, cultural, and environmental character of a society that allows all individuals to realise their full potential in a fair and just way.
Such a composite and complex notion is extremely hard to capture in a holistic way into a universal linear metric. Welfare is multifaceted, heterogeneous across time and space and non-linear. To capture this multidimensional concept, we propose a new composite index that seeks to explore, understand, measure, and reframe welfare; the Reframing Welfare Index (RWI). The proposed RWI addresses both normative and methodological issues that previous metrics lack, aiming at a holistic and robust measure of welfare.
The framework of the Index captures welfare in four main categories, the Foundations of welfare:
- Just Societies
- Secure Livelihoods
- Sustainable Open Economies
- Nature and Green Future