Australia’s economy has delivered prosperity for some, but left many behind. The divides in housing, health, income and opportunity are widening — and they’re not inevitable. They’re the result of decisions, shaped by values and power.
It doesn’t have to be this way.
Across Australia and around the world, communities are already building alternatives — from cooperative energy projects and regenerative food systems to new legal frameworks and circular design. These examples show that change is not only possible: it’s already happening.
In this one-hour session, The Next Economy CEO Lizzie Webb will be joined by lead author Katherine Trebeck to unpack insights from The Economy We Could Have — a new paper that looks under the bonnet of the Australian economy and reveals how we can move beyond isolated ‘Lego wins’ toward a wellbeing economy that prioritises dignity, fairness, connection and ecological care.
📅 Date: Thursday, 12pm AEST (1PM AEDT), 4 December 2025
Australia’s economy looks strong on the surface, but behind the averages lie deep divides in housing, work, health and opportunity. Our new paper, The Economy We Could Have, asks what our economy is really designed to do, who it is working for, and how it can support people’s wellbeing.
Australia is at a pivotal moment. While headline statistics suggest strong performance, looking under the bonnet of these numbers reveals widening divides in housing, health, income, and opportunity. Rising inequality and climate disruption demand a closer look at our economic system: what is it designed to do – and who benefits?
The Economy We Could Have explores how Australia’s economic story has shifted over the decades, the divides created along the way, and the alternatives already being built. It sets out practical steps for governments, enterprises and communities to move beyond isolated “Lego wins” and instead embed a wellbeing economy – one that puts dignity, fairness, connection and ecological care at its centre.
As lead author, Katherine Trebeck, puts it:
Transformational change is possible. Australia has done it before – from Medicare to minimum wages – and we can do it again.
The challenge
The paper traces Australia’s shift from predistribution – fair wages and public investment – to a model marked by precariousness, asset accumulation, and financial advantage for a few. It also highlights how system-compliant fixes and short-term crisis responses can stall deeper progress.
One in seven Australians live in poverty. Many face insecure work, unaffordable homes and stretched services that respond to crisis rather than prevent it. These outcomes are not inevitable. They are the result of decisions – shaped by values and power – that have concentrated advantage for some and shifted risks onto others.
The alternatives
The good news that is change is possible. The economy is a human-made system, and it can be redesigned. Across the country, communities are already showing what that momentum for change is growing. Australians are increasingly dissatisfied with the status quo and open to rethinking economic priorities.
One promising framework is the wellbeing economy, which according to the Wellbeing Economy Alliance can deliver the following needs:
There are plenty of examples of these goals already being delivered in practice:
Earthworker Cooperative (Latrobe Valley, VIC)
Australia’s first worker-owned factory, producing solar hot water systems to serve its worker-owners.
Food Connect Shed (Brisbane, QLD):
A cooperative food enterprise owned by 500+ ‘careholders’, rooted in equity and regeneration.
Marlinja Power Project (NT):
Community-installed solar panels and battery storage enabling near energy self-sufficiency – an example of climate resilience.
Governments are beginning to respond. The Federal Government’s Measuring What Matters statement is expanding how national success is defined, incorporating indicators for health, sustainability, and social cohesion. In Victoria, the Early Intervention Investment Framework is embedding preventative health and social approaches into budget decisions, valuing long-term wellbeing over short-term fixes.
Australia’s future depends on whether we can move beyond piecemeal reforms to embrace systemic change. By learning from community-led initiatives and adopting frameworks like the wellbeing economy, we can build a more inclusive, resilient, and caring society – one that works for everyone.
Partner with us! An exciting opportunity for one rural or regional community
The transformation of Australia’s energy system is underway, with regional communities playing a crucial role in hosting renewable energy and infrastructure projects. For communities to benefit and actively participate in this transformation, several challenges must first be addressed.
Striking a New Deal (SaND) is a new initiative working directly with community leaders and key stakeholders to drive better outcomes from the development of renewable and infrastructure projects in our regions.
We’re providing resources and support to one community partner for a whole year
SaND will partner with one rural or regional body – a local council, association or organisation – to help your community drive better social and economic outcomes from energy projects in your area.
Whether projects are yet to start, or right in the thick of it, we want to help you work with your community to build the capacity, find points of alignment and develop resources you need to advocate for your immediate and long-term needs.
The one-year program, from August 2024 to August 2025, will be co-designed by you depending on your needs, and the needs of your community. Community benefits can include:
We get it’s not easy to navigate the arrival of renewable energy and negotiate better outcomes for your community. And, from housing shortages to divisions between residents to impacts to nature, there could be multiple important issues to unpack along the way. Let’s work it out together, your way!
What’s the selection process and project timeline?
Submit your Expression of Interest (EOI) form online by 19 July 2024(the earlier the better!).
On receipt of EOI, eligible hosts will be formally invited to apply by 26 July 2024.
Short-listed applicants will be interviewed in early August 2024.
The project will run to August 2025.
Who is eligible to host the project?
We welcome applications from potential partners in any Australian rural or regional community with renewable energy or infrastructure projects planned or underway in your area.
Strong ties to your community
Capacity to actively participate in a year-long process
An interest in addressing issues and maximising benefits from renewable or infrastructure projects in your community
What are the expectations and costs for the host council, organisation or association?
SaND will cover key costs associated with delivering the program, including:
Our time and expertise
Access to a national network of community leaders and experts
Basic costs of community engagement activities, including venue hire and catering
Engagement with industry and government and communication of project outcomes
The host will need a dedicated contact within their organisation to:
Work with us to design a program specific to their community
Provide links to key stakeholders and organisations within the region
Support the organisation of community workshops and meetings
Champion actions developed through the process
We estimate a two to three hour per week commitment from the contact over the 12-month period, with more time-intensive periods during engagement activities.
What are the benefits of hosting?
Hosting the project offers many benefits for you and your community. This includes:
Support and assistance to plan for and manage for projects in your region
Learn and apply key insights from across Australia to your region
Join a network of regional communities working towards best practices and positive outcomes nationwide.
How does this relate to other community engagement processes occurring in our region?
This project takes a regional approach and works with community groups within a region to: understand each other’s diverse perspectives, to recognise the challenges and identify the opportunities.
This work is important preparation for informed, constructive and productive participation in other community engagement processes occuring in the region and also in negotiations.
By taking a regional approach, this work is place-based, strategic and practical, and is applicable to individual renewable project engagements through to broader REZ or Statewide engagements.
Connect: A national network of regional leaders managing the rollout of large-scale renewables will share knowledge, experience and inform the development of a national, place-based approach adaptable for other communities.
Partner: For one year, we will support a selected regional or rural community partner with the resources, capacity and expertise to drive better outcomes from local projects.
Inform: With our community leaders, we will share our insights with industry and state and federal government to help inform future practices and policies.
In response to the Federal Government’s critical minerals project funding announcement, including a welcome $400 million in new loans for Alpha HPA’s high-purity alumina processing facility in Gladstone, The Next Economy CEO Amanda Cahill said:
“This is a good example of the role we need government to play if we are to unlock private investment and support regional communities to manage this massive transformation. It is this kind of support that helps Gladstone to attract new investment under the region’s 10-year Economic Roadmap, showing just what’s possible if communities, governments and industries come together to meaningfully address change.
“Australia is blessed with abundant resources, but this can be a curse if development is not done well with boom-and-bust cycles contributing to a range of challenges such as exacerbating housing and workforce shortages. We need a new, holistic approach to regional development so that profits are shared equitably, the rights of First Nations people are respected, and environmental impacts are avoided. For example, in some places companies are looking at how they can reduce the need for new extractive projects by adopting circular economy approaches, such as the mining of existing tailings.”
Read more about Gladstone’s 10-year Economic Roadmap, developed in partnership with The Next Economy.
