The New Economics Foundation operates as a British think tank that challenges conventional measures of economic success, particularly through research, advocacy, and on-the-ground initiatives. Founded in 1986 by leaders of The Other Economic Summit, a counter-conference to the G7 meeting held in London, NEF emerged from efforts to place international debt and environmental concerns on the agenda of major economic powers.
Headquartered in London with approximately 50 staff members, the organisation works across multiple domains including housing, financial system reform, climate policy, worker rights, and local economic development. Its programmes combine rigorous analysis with practical solutions designed collaboratively with communities. The foundation has demonstrated measurable impact through initiatives like its BizFizz entrepreneurship programme, which created over 900 new businesses in deprived areas before expanding internationally.
NEF gained international recognition for launching the Happy Planet Index in 2006, an alternative metric to GDP that measures wellbeing and environmental sustainability. The organisation has incubated numerous spinoff organisations, including the Ethical Trading Initiative and Time Banking UK, reflecting its approach to promoting systemic economic change.
Current work addresses pressing European concerns: recent analysis identified regions with inadequate job quality relative to welfare claims, focusing on the north-east, West Midlands, and Wales. The foundation joined the Green Economy Coalition in 2014, positioning itself within global networks advocating for economic models centred on people and environmental protection rather than purely financial growth metrics.