Alleconomy

Alleconomy is a theoretical and policy-oriented concept that seeks to describe and measure all economically relevant activity within and around a society, extending beyond the conventional boundaries of GDP. Proponents view the alleconomy as including formal market transactions, informal work, domestic and care labor, volunteer activity, and the value of natural resources and ecosystem services that are often excluded from standard economic accounting. The goal is to create a more comprehensive picture of economic well-being and sustainability by integrating non-market contributions and environmental costs into economic analysis.

Scope and features often highlighted include recognizing unpaid household work, the informal sector, and the broader social and ecological costs and benefits that influence economic outcomes. The alleconomy framework typically relies on enhanced national accounting methods, such as satellite accounts and environmental accounting, alongside alternative well‑being indicators. It emphasizes the interdependence of economic activity, social outcomes, and environmental health, and it may incorporate digital platforms, gig work, and the sharing economy as integral parts of the overall economy rather than outside it.

Policy implications focus on measurement, governance, and redistribution. This includes valuing unpaid labor, pricing externalities, and designing policies that support sustainable, inclusive growth. Critics argue that the concept risks measurement complexity and blurred boundaries, and that practical implementation may face political and institutional obstacles.

The term remains academically debated and is not universally adopted as a formal category in mainstream macroeconomics. See also welfare economics, social accounting, environmental accounting, GDP alternatives, and inclusive growth.