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 joins 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
📍 Location: Online
🎟 Tickets: This event has already happened – watch the video below!
🎤 Speakers: The Next Economy CEO Lizzie Webb in conversation with lead author Katherine Trebeck.
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.
Regional Councils play a critical role in ensuring renewable energy development is fair, well managed and delivers lasting local value. Drawing on our work with regions, The Next Economy is mapping how Councils contribute at each stage of the development pathway to secure long-term community benefits.
Lisa Lumsden, Senior Project Officer facilitating group discussion with local government leaders at the Regional Leaders Summit, Newcastle August 2025.
We know our place really well and we put our communities at the forefront of our decisions
Council participant at the inaugural Regional Leaders Summit, August 2025, Newcastle
Councils across Australia are being pragmatic and strategic about renewable energy development in their region – focussing on what they can do to make the most of the situation, to minimise impacts and leverage the potential for the long-term local outcomes they want.
So, what is involved in achieving that?
In short – A lot.
Drawing on work in regions such as Uralla and Hay as well as recent workshops at the Regional Leaders Summit and Gippsland New Energy Conference, The Next Economy has developed insights into the activities Councils are implementing to improve the outcomes of renewable energy development and create shared strategic value across Australia.
In mapping these over the last few months the following two groups of Council activities have emerged:
1. Development Pathway Activities: These capture the types of actions Councils can take at different stages of the renewable energy project development pathway to:
ensure community participation and development that is shaped by local knowledge and priorities;
manage unwanted impacts on the community, local infrastructure, environment and local economy, and;
facilitate development in a way that creates lasting value.
The development pathway mapping helps to answer questions such as:
What community engagement activities, plans and documents help Councils demonstrate they are representing their region, and at what stage of the renewable energy development pathway should that work happen?
What service and infrastructure upgrades – from roads and housing to water and waste – need to be prioritised to minimise local disruptions, development delays, and to leverage improved long term infrastructure outcomes for the community?
Timing is a critical factor for these activities, with many needing to be addressed, at or before, different points along the renewable energy development pathway (spanning pre-feasibility, through to construction, operation and end of life).
2. Foundational Council Activities – These arethe essential, ongoing work that underpins the Development Pathway Activities and help to form part of the enabling environment for strong regional partnerships through development. The foundations include:
Capacity and capability building
Leadership, coordination and collaboration
Advocacy and inclusion
Regular, clear and honest communication and engagement with the community
Lisa Lumsden, Senior Project Officer, notes:
Councils can and are contributing to local outcomes from renewable energy development…these insights highlight how critical it is to resource Councils and regional leaders appropriately.
The Next Economy is continuing to bring these insights together, working with regional leaders and Councils to get feedback and explore how best to share them – both to highlight the solutions being pioneered locally and to inspire and support other regions across Australia grappling with similar changes and opportunities.
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.
The Next Economy has trained over 300 people working in environment, climate and social service organisations on how to work effectively with regional communities. This has included members of:
