Flywheel Economics offers a fresh and distinctly ecological approach to economic thinking, deeply inspired by founder Richard Ough’s experiences and insights gained from gardening and observing natural ecosystems. Richard recognised that economies should not be seen as mechanical entities with rigid structures but rather as living, breathing ecosystems—dynamic, adaptable, and inherently interconnected.
At its heart, Flywheel Economics acknowledges that small, consistent actions, much like tending a garden, gradually build powerful momentum. By carefully nurturing environments of innovation, thoughtful investment, and sustainable growth, this approach promotes resilience, balance, and fairness. Richard’s vision sees economies thriving when policymakers act as gardeners, cultivating growth through careful stewardship rather than attempting to force outcomes through prescriptive measures.
Flywheel Economics operates across four focal areas:
- Economic Policy – Guiding policymakers in cultivating adaptable, inclusive economic frameworks.
- Investment – Facilitating strategic and sustainable investments that foster long-term economic resilience.
- Innovation – Supporting ecosystems of creativity and ingenuity that drive transformative growth.
- Aid Effectiveness and Value for Money Practice – Ensuring international development programmes clearly demonstrate and enhance the tangible benefits they deliver, maximising their impact.