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Finance & Accounting
Pages 12 (3012 words)
Behavioural Finance Name: Institution: Course: Tutor: Date: Abstract The world has for a long time been in need of a change in the way things are done, the people recognise that the social, political and economic conditions in the universe are not in line with the needs of the society.
Adverse and extreme climatic conditions have increased in frequency and severity and adapting to these changes has now become a reality (Stiglitz, 2010, 19). Due to the rising population, the demand for natural resources has risen which has led to overexploitation of natural resources and degradation of the environment, food and oil prices have skyrocketed and debt crisis in most countries has reached an alarming levels. The new paradigm was discussed when Bhutan invited delegates for a high level meeting to discuss on happiness and wellbeing and to pursue the elaboration of methods that I the best way possible the significance of quest for happiness and wellbeing in progress with a view to directing their public policies. The new economic concept is based on 4 economic pillars, which include wellbeing and happiness, environmental continuity, competent sharing of property and equitable sharing of wealth. In the quest for a new economic paradigm, 15 recommendations were identified which would lead to fulfilment of the new economic paradigm (Sy, 2012, 74) This literature review will aim to answer the following questions Happiness and well-being 1. How is happiness related to well being? 2. What are the dimensions to happiness 3. ...
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