# New Economics Foundation

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British economics think tank

New Economics Foundation Abbreviation NEF Formation 1986; 40 years ago (1986) Founder The Other Economic Summit Type Think tank Registration no. 1055254 Legal status Charity Purpose Social justice, Economic justice, Environmental justice, Public policy, Devolution Headquarters 10 Salamanca Place Location London, United Kingdom Chief Executive Dhananjayan Sriskandarajah Staff 43 (2025) Website neweconomics.org

The **New Economics Foundation** (**NEF**) is a [progressive](/source/Progressivism) [British](/source/Great_Britain) [think tank](/source/Think_tank) that "aims to create a new economy that works for people and within environmental limits".[1][2] Its work encompasses the production of research and policy, the support of on-the-ground projects, campaigning and [consultancy work](/source/Consulting_firm).[3]

The foundation employs 43 members of staff at its London office and is active at a range of different levels. Its programmes include work on well-being, its own approaches to measurement and evaluation, sustainable local regeneration, its own forms of finance and business models, sustainable public services, and the [economics of climate change](/source/Economic_analysis_of_climate_change).

## History

NEF was founded in 1986 by the leaders of [The Other Economic Summit](/source/The_Other_Economic_Summit) (TOES) with the aim of working for a "new model of wealth creation, based on equality, diversity and economic stability".[4][5]

The organisation has launched a range of new organisations to promote its ideas, including the [Ethical Trading Initiative](/source/Ethical_Trading_Initiative), [AccountAbility](/source/AccountAbility), [Time Banking UK](https://en.wikipedia.org/w/index.php?title=Time_Banking_UK&action=edit&redlink=1), [London Rebuilding Society](https://en.wikipedia.org/w/index.php?title=London_Rebuilding_Society&action=edit&redlink=1), the [Community Development Finance Association](https://en.wikipedia.org/w/index.php?title=Community_Development_Finance_Association&action=edit&redlink=1), and others.[*[citation needed](https://en.wikipedia.org/wiki/Wikipedia:Citation_needed)*]

The organisation's current projects include work on community-based housing, worker organising in the digital economy, restoring local banking and analysing the impacts of energy crises[6]. It is also active in community economic regeneration. The Foundation's BizFizz programme, an entrepreneurship development programme, has created more than 900 new businesses in deprived areas. The organisation has now taken this and Local Alchemy to six other countries through its international programme.[*[citation needed](https://en.wikipedia.org/wiki/Wikipedia:Citation_needed)*]

The Foundation's public events attract well-known speakers. Its [clone town](/source/Clone_town) campaign in favour of local economic diversity was covered two years running by every major national newspaper and TV news station and it was taken up in the Save Our Small Shops Campaign in the *[Evening Standard](/source/Evening_Standard)*.[*[citation needed](https://en.wikipedia.org/wiki/Wikipedia:Citation_needed)*]

## Work

NEF supported the National Programme for Third Sector Commissioning with research and reporting on "how best the Third Sector could evidence its wider impact on public services and their delivery", which underpinned the [Office of the Third Sector](/source/Office_of_the_Third_Sector)'s work programme on third sector commissioning from 2009.[7]

### Jubilee 2000 campaign

Main article: [Jubilee 2000](/source/Jubilee_2000)

The [Jubilee 2000](/source/Jubilee_2000) campaign, strategised for and run by NEF,[8] collected 24 million signatures for its worldwide petition on development and poverty.[9]

### Oil Depletion Analysis Centre

Oil Depletion Analysis Centre Formation 1 June 2001; 25 years ago (2001-06-01) Dissolved Ceased publishing March 30, 2012 (2012-03-30); Archives available Type INGO Purpose To raise international public awareness and promote better understanding of the world's oil-depletion problem Headquarters London Region served Worldwide Director Jim Meyer Parent organisation New Economics Foundation

The Oil Depletion Analysis Centre (ODAC) was founded by Sarah Astor and [Dr. Colin Campbell](/source/Colin_Campbell_(geologist)). In his book *Oil Crisis* Campbell explains that the [Astor family](/source/Astor_family) wanted to establish and provide funds for an institute to raise awareness on this issue of oil depletion and peak oil.[10] The first director was Dr. Roger Bentley.

In 2004, ODAC sponsored [Chris Skrebowski](/source/Chris_Skrebowski)'s report, called "Oil Field Megaprojects", which analysed data from 68 oil production projects.[11]

In November 2005, ODAC published a report after conducting a survey led by Chris Skrebowski, which concluded that oil supply will not meet demand by 2007 or 2008.[12]

In June 2007, a report authored by Colin Campbell predicted that peak oil would occur within four years.[13]

### Happy Planet Index

Main article: [Happy Planet Index](/source/Happy_Planet_Index)

In July 2006, the Foundation launched the [Happy Planet Index](/source/Happy_Planet_Index), intended to challenge existing indices of a state's success, such as [Gross Domestic Product](/source/Gross_Domestic_Product) (GDP) and [Human Development Index](/source/Human_Development_Index) (HDI).

NEF was awarded the [International Society for Quality-of-Life Studies](/source/International_Society_for_Quality-of-Life_Studies)' Award for the Betterment of the Human Condition in 2007, in recognition of its work on the Happy Planet Index.[14][15]

### 21-hour working week

In February 2010, the New Economics Foundation called for gradual transition to a working week of 21 hours as a way to tackle: "overwork, unemployment, over-consumption, high carbon emissions, low well-being, entrenched inequalities, and the lack of time to live sustainably, to care for each other, and simply to enjoy life".[16] In 2012, [Anna Coote](/source/Anna_Coote), the head of social policy at The New Economics Foundation said this could be done as a three-day week.[17] The New Economics Foundation stated a 21-hour work week would provide a better work-life balance, better balance work hours across the population and help towards a more sustainable and less carbon-dependent economy.[17] A three-day work-week has also been support by British sociologist Peter Fleming in his 2015 book, *The Mythology of Work*.[18]

## Funding

The New Economics Foundation has been rated as 'broadly transparent' in its funding by [Transparify](/source/Transparify)[19] and has been given an A grade for funding transparency by [Who Funds You?](/source/Who_Funds_You%3F)[20]

## Chief Executives

Name Time in Office Ed Mayo[21] 1992 – 2003 Marc Stears[22] January 2016 – November 2017 Miatta Fahnbulleh[23][24] November 2017 – January 2024 Dhananjayan Sriskandarajah[25] January 2024 – Present

## Publications

- [*Public services and (in)equality in an age of austerity*](https://web.archive.org/web/20140222054056/http://www.britishcouncil.org/dk_d160_book_4_public_services_joe_penny.pdf). Joe Penny (July 2013).

- [*Where does money come from?*](https://neweconomics.org/2012/12/where-does-money-come-from). Andrew Jackson, Richard Werner, Tony Greenham and Josh Ryan-Collins (12 December 2012)

- [*Growth isn't Possible: Why rich countries need a new economic direction*](https://web.archive.org/web/20130428040742/http://www.neweconomics.org/publications/growth-isnt-possible). [Andrew Simms](/source/Andrew_Simms), Dr Victoria Johnson, Peter Chowla (25 January 2010).

- [*21 hours: Why a shorter working week can help us all to flourish in the 21st century*](https://web.archive.org/web/20130429103706/http://www.neweconomics.org/publications/21-hours). [Anna Coote](/source/Anna_Coote), Andrew Simms and Jane Franklin (13 February 2010).

- [*The Great Transition*](https://web.archive.org/web/20140807141842/http://www.neweconomics.org/publications/entry/the-great-transition). Josh Ryan-Collins (18 October 2009).

- [*The Consumption Explosion*](http://www.neweconomics.org/publications/entry/the-consumption-explosion) [Archived](https://web.archive.org/web/20150217152917/http://www.neweconomics.org/publications/entry/the-consumption-explosion) 17 February 2015 at the [Wayback Machine](/source/Wayback_Machine). Andrew Simms, Victoria Johnson, Joe Smith and Susanna Mitchell (24 September 2009).

- [*The Happy Planet Index: An index of human well-being and environmental impact*](https://web.archive.org/web/20100210184715/http://www.neweconomics.org/publications/happy-planet-index). Nic Marks, Saamah Abdallah, Andrew Simms and Sam Thompson (12 July 2006).

- [*Clone Town Britain: The survey results on the bland state of the nation*](https://web.archive.org/web/20130310020237/http://www.neweconomics.org/publications/clone-town-britain). Andrew Simms, Petra Kjell and Ruth Potts (6 June 2005).

## See also

- [A Green New Deal](/source/A_Green_New_Deal)

- [Coproduction of public services by service users and communities](/source/Coproduction_of_public_services_by_service_users_and_communities)

- [Great Transition](/source/Great_Transition)

- [List of UK think tanks](/source/List_of_UK_think_tanks)

- [New Economy Coalition](/source/New_Economy_Coalition) – sister organisation in America

- [New Economy movement](/source/New_Economy_Coalition#New_Economy_movement)

- [Open Source Ecology](/source/Open_Source_Ecology)

- [Schumacher Circle](/source/Schumacher_Circle) organisations

- [Transition town](/source/Transition_town)

## References

1. **[^](#cite_ref-1)** ["A new economy for a new era"](https://neweconomics.org/2025/02/a-new-economy-for-a-new-era). *New Economics Foundation*. 17 February 2025. Retrieved 18 March 2026.

1. **[^](#cite_ref-2)** ["Our ambitions"](https://neweconomics.org/about/our-missions). *New Economics Foundation*. Retrieved 18 March 2026.

1. **[^](#cite_ref-3)** ["Our work"](https://neweconomics.org/about/our-work). *New Economics Foundation*. Retrieved 18 March 2026.

1. **[^](#cite_ref-4)** ["Annual report and financial statements"](https://register-of-charities.charitycommission.gov.uk/en/charity-search?p_p_id=uk_gov_ccew_onereg_charitydetails_web_portlet_CharityDetailsPortlet&p_p_lifecycle=2&p_p_state=maximized&p_p_mode=view&p_p_resource_id=%2Faccounts-resource&p_p_cacheability=cacheLevelPage&_uk_gov_ccew_onereg_charitydetails_web_portlet_CharityDetailsPortlet_objectiveId=A18031117&_uk_gov_ccew_onereg_charitydetails_web_portlet_CharityDetailsPortlet_priv_r_p_mvcRenderCommandName=%2Faccounts-and-annual-returns&_uk_gov_ccew_onereg_charitydetails_web_portlet_CharityDetailsPortlet_priv_r_p_organisationNumber=1055254&_uk_gov_ccew_onereg_charitydetails_web_portlet_CharityDetailsPortlet_priv_r_p_organisationNumber=1055254). *[Charity Commission for England and Wales](/source/Charity_Commission_for_England_and_Wales)*. 30 June 2025. Retrieved 18 March 2026.

1. **[^](#cite_ref-5)** ["The Other Economic Summit and the New Economics Foundation"](https://web.archive.org/web/20130411073919/http://www.neweconomics.org/content/history-nef). Archived from [the original](http://www.neweconomics.org/content/history-nef) on 11 April 2013. Retrieved 11 March 2010.

1. **[^](#cite_ref-6)** ["Protecting consumers and the UK economy from an energy price shock"](https://neweconomics.org/2026/04/protecting-consumers-and-the-uk-economy-from-an-energy-price-shock). Retrieved 9 April 2026.

1. **[^](#cite_ref-7)** Cabinet Office, Office of the Third Sector, [National Programme for Third Sector Commissioning - a better return: setting the foundations for intelligent commissioning to achieve value for money](https://neweconomics.org/uploads/files/6059c7f32debc02156_dem6iys0l.pdf), published January 2009, accessed 29 June 2021

1. **[^](#cite_ref-8)** Greenhill, Romilly (February 2002). [The unbreakable link](http://www.un-ngls.org/orf/2002-02-The%20Unbreakable%20Link.pdf) - debt relief and the [Millennium Development Goals](/source/Millennium_Development_Goals). New Economics Foundation and Jubilee Debt Campaign.

1. **[^](#cite_ref-9)** [Jubilee research](http://www.neweconomics.org/gen/m2_i5_jubileeresearch.aspx). New Economics Foundation.

1. **[^](#cite_ref-oilcrisis_10-0)** [Campbell, Colin](/source/Colin_Campbell_(geologist)) (2005). [*Oil Crisis*](https://books.google.com/books?id=VaGCbpbzjRwC). Multi-science publishing. p. 309. [ISBN](/source/ISBN_(identifier)) [0906522390](https://en.wikipedia.org/wiki/Special:BookSources/0906522390).

1. **[^](#cite_ref-tpo_11-0)** [Heinberg, Richard](/source/Richard_Heinberg) (2005). [*The Party's Over: Oil, War and the Fate of Industrial Societies*](https://books.google.com/books?id=sk2De9Yb7SoC). Clairview Books. p. 118. [ISBN](/source/ISBN_(identifier)) [1905570007](https://en.wikipedia.org/wiki/Special:BookSources/1905570007).

1. **[^](#cite_ref-odp_12-0)** [Heinberg, Richard](/source/Richard_Heinberg) (2006). [*The Oil Depletion Protocol: A Plan to Avert Oil Wars, Terrorism and Economic Collapse*](https://books.google.com/books?id=-3DovwpRGdkC). Clairview Books. p. 17. [ISBN](/source/ISBN_(identifier)) [190557004X](https://en.wikipedia.org/wiki/Special:BookSources/190557004X).

1. **[^](#cite_ref-zge_13-0)** Williamson, Robert (2008). [*Zero Greenhouse Emissions: The Day the Lights Went Out Our Future World*](https://books.google.com/books?id=1JiCoAWSh8MC). Strategic Book Publishing. p. 99. [ISBN](/source/ISBN_(identifier)) [978-1606933060](https://en.wikipedia.org/wiki/Special:BookSources/978-1606933060).

1. **[^](#cite_ref-14)** New Economics Foundation, [National Accounts of Well-being: bringing real wealth onto the balance sheet](https://neweconomics.org/uploads/files/2027fb05fed1554aea_uim6vd4c5.pdf), published January 2009, accessed 14 May 2021

1. **[^](#cite_ref-15)** International Society for Quality-of-Life Studies, [Award for the Betterment of the Human Condition](https://www.isqols.org/Award-for-the-Betterment-of-the-Human-Condition), accessed 14 May 2021

1. **[^](#cite_ref-16)** ["21 hours"](https://neweconomics.org/2010/02/21-hours). New Economics Foundation. 13 February 2010. Retrieved 30 January 2022.

1. ^ [***a***](#cite_ref-Save_the_world_17-0) [***b***](#cite_ref-Save_the_world_17-1) ["Save the world with a 3-day work week"](https://web.archive.org/web/20201103215517/https://www.theglobeandmail.com/report-on-business/careers/management/save-the-world-with-a-3-day-work-week/article545320/). *Globe and Mail*. 10 February 2012. Archived from [the original](https://www.theglobeandmail.com/report-on-business/careers/management/save-the-world-with-a-3-day-work-week/article545320/) on 3 November 2020. Retrieved 31 July 2025.

1. **[^](#cite_ref-18)** Veal, Anthony (24 December 2018). ["It's time to put the 15-hour work week back on the agenda"](https://theconversation.com/its-time-to-put-the-15-hour-work-week-back-on-the-agenda-106754). *[The Conversation](/source/The_Conversation_(website))*. Retrieved 31 July 2025.

1. **[^](#cite_ref-19)** ["Round-Up of Transparify 2018 Ratings"](https://www.transparify.org/blog/2018/12/17/yu6z844z5sf3vnhvqkegzeefuzv12o). *Transparify*. 17 December 2018. Retrieved 7 July 2019.

1. **[^](#cite_ref-20)** ["Who Funds You? New Economics Foundation"](https://www.opendemocracy.net/en/who-funds-you/new-economics-foundation/).

1. **[^](#cite_ref-21)** Smithers, Rebecca (14 July 2009). ["Ed Mayo resigns from Consumer Focus"](https://www.theguardian.com/money/2009/jul/14/ed-mayo-resigns). *The Guardian*. [ISSN](/source/ISSN_(identifier)) [0261-3077](https://search.worldcat.org/issn/0261-3077). Retrieved 18 March 2026.

1. **[^](#cite_ref-22)** Gill, Tess (10 July 2017). ["NEF announcement: CEO Marc Stears is moving on"](https://neweconomics.org/2017/07/nef-announcement-ceo-marc-stears-moving). *New Economics Foundation*. Retrieved 18 March 2026.

1. **[^](#cite_ref-23)** Brett, Will (11 October 2017). ["New Economics Foundation appoints Miatta Fahnbulleh as new CEO"](https://neweconomics.org/2017/10/new-economics-foundation-appoints-miatta-fahnbulleh-new-ceo). *New Economics Foundation*. Retrieved 18 March 2026.

1. **[^](#cite_ref-24)** Foster, Dawn (31 October 2017). ["Miatta Fahnbulleh: 'People's tolerance for an unfair economic model has hit a buffer'"](https://www.theguardian.com/society/2017/oct/31/miatta-fahnbulleh-tolerance-unfair-economic-model-buffer). *The Guardian*. [ISSN](/source/ISSN_(identifier)) [0261-3077](https://search.worldcat.org/issn/0261-3077). Retrieved 18 March 2026.

1. **[^](#cite_ref-25)** ["New Economics Foundation appoints Dr Danny Sriskandarajah as new chief exec"](https://neweconomics.org/2023/06/new-economics-foundation-appoints-dr-danny-sriskandarajah-as-new-chief-exec). *New Economics Foundation*. 15 June 2023. Retrieved 18 March 2026.

## External links

- [Official website](http://www.neweconomics.org/)

- ["New Economics Foundation"](https://web.archive.org/web/20050907092433/http://www.instituteforphilanthropy.org.uk/re5.html). *The Philanthropy Atlas*. The [Institute for Philanthropy](/source/Institute_for_Philanthropy)

- ["New Index (Inner City 100) will Reward Inner City Innovations"](https://web.archive.org/web/20041113122139/http://www.shef.ac.uk/~ebn/Whats_New/a_j2001/nef.html). [University of Sheffield](/source/University_of_Sheffield)

- [The Happy Planet Index](https://web.archive.org/web/20090926174209/http://www.happyplanetindex.org/)

- [One hundred months](http://onehundredmonths.org/)

- [Citizens Advice Appointment](https://nationaldebtlines.co.uk/citizens-advice-appointment/)

Authority control databases International ISNI VIAF GND National United States Israel Other IdRef Yale LUX

[Portals](https://en.wikipedia.org/wiki/Wikipedia:Contents/Portals):
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Adapted from the Wikipedia article [New Economics Foundation](https://en.wikipedia.org/wiki/New_Economics_Foundation) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/New_Economics_Foundation?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.