The Mental Wealth Initiative (MWI), in partnership with esteemed collaborators from the European Brain Council, Norwegian Brain Council, the European Policy Centre, the World Bank, Rice University’s Baker Institute for Public Policy, and the Euro-Mediterranean Economists Association, proudly announce the release of their report, “The Value of Social Production in Norway,” during the World Economic Forum, in Davos, Switzerland, January 2025.  

This report presents a pioneering approach to measuring national prosperity by integrating the concept of Mental Wealth, explicitly valuing social production alongside traditional economic output. It calls for a crucial policy shift to integrate social production into Systems of National Accounts, fostering a more comprehensive view of national prosperity. The report advocates for investments in brain and social capital, suggesting these be considered new target asset classes for Norway’s Sovereign Wealth Fund. By aligning with the European Brain Council’s National Brain Plans, it aims to catalyse a transition to more sustainable wellbeing-oriented economies. 

Key Highlights: 

1. Valuation of Social Production: The report estimates that the total value of social production in Norway reached an impressive 284.4 billion Norwegian Kroner (NOK) in 2022, accounting for 4.98% of the nation’s Gross Domestic Product (GDP). This figure underscores the significant yet often overlooked contributions of unpaid work to societal wellbeing and economic resilience. 
2. Demographic Contributions: The findings reveal that women contributed the most to social production, valued at 160 billion NOK, primarily through family care. In contrast, men contributed 123.65 billion NOK, with notable contributions to family care and leading contributions to voluntary work. The report highlights the essential roles played by various demographic groups, including the unemployed and retirees, in fostering community cohesion and support.
3. Social Production Categories: The report categorises social production into eight key areas, including volunteering, unpaid care for children and the elderly, community participation, and environmental stewardship. However, it acknowledges that current estimates are likely an understatement due to incomplete data, emphasizing the need for improved data infrastructure to capture the full scope of social contributions that contribute to national prosperity. 
4. Global Context: This report arrives at a pivotal moment as global momentum shifts towards wellbeing-oriented economies. It aligns with recent international resolutions among WHO and UN Member States recognizing the link between economic policies and health, urging nations to prioritize sustainable development and social wellbeing alongside traditional economic measures. 
5. Future Directions: The Mental Wealth Initiative and its international partners emphasize the importance of regular measurement and reporting of social production to facilitate international comparisons and track progress towards a Wellbeing Economy. This initiative aims to inspire other nations to adopt similar frameworks, fostering a global dialogue on the value of social contributions to the Mental Wealth of Nations. 

Value of SP in Norway_v9(FINAL)

The launch of this report during the World Economic Forum 2025 marks a significant step towards redefining prosperity in the 21st century. By monitoring and valuing social production we can guide investments to create more inclusive, resilient, and thriving communities worldwide.  

For further information, please contact: Jo-An Occhipinti (Co-Director, Mental Wealth Initiative: jo-an.occhipinti@sydney.edu.au); Frédéric Destrebecq (Executive Director, European Brain Council: frde@braincouncil.eu); or Henrik Peersen (Secretary General, Norwegian Brain Council:   henrik@hjerneradet.no).