Abstract
This article is an attempt to depict principles and philosophical lines so as to promote the well-being and happiness of people and communities. The principles of theoretical research govern the methods and tools of making analysis and inferences. In this regard, theories from positive psychology, behavioral & institutional economics, sociology, and anthropology were consulted. The study starts by reviewing the theoretical and empirical literature on the two interrelated concepts, well-being and happiness. Doing so, it looks into a systematic analysis into what factors are weighing in determining well-being and happiness at individual and collective levels. In this regard, it identifies individualism, voluntary simplicity, and civilization concepts as key variables. With the benchmark being the conventional narratives, the study tries to characterize those concepts in a way that better appeals to pillars of well-being and happiness concepts. While making characterizations on individualism, voluntary simplicity, and civilization, the study infers the drawbacks of the underlying constructs of the conventional understandings and comes up with alternative ones in a way that better serves the affective and eudemonic well-being of people. In this regard, it came up with concepts of individualism-proper, a theoretical contribution of this work in redefining the concept of individualism in a better way to promote collective well-being and happiness. It also revisits the notion of voluntary simplicity in a way to appeal business of life and at all levels, from individual to societal to country level. As such, the paper tries to frame the foundation of collective happiness and well-being by pinpointing philosophical lines, depicting moral standards and/or principles that people shall pursue in their intra-personal and inter-personal relationships. The study further evokes the academia and policy regimes to consider why and how well-being and happiness issues should be the pinpoint of their respective endeavors.
Highlights
For long economic literature has taken for granted material prosperity analogous to well-being
This study is mainly aimed at filling this gap. It tries to devising a theoretical framework to deal with the concepts of well-being and/or happiness
Philosophical construct of economics of happiness Where is thatland of happiness and prosperity? Where is that part of world in which justice and fairness prevailed? Where is a fair world for all creatues- be it human kind or other lifes, the fauna and flora? Can we model for a utopia that provides us with ‘yes’ to these quests or remains a mere wish? If ‘yes’, how dear is the cost of securing that dream land? these are not mere questons at all; inappropriate to dub a person with this point ideal
Summary
For long economic literature has taken for granted material prosperity analogous to well-being. This study is mainly aimed at filling this gap It tries to devising a theoretical framework to deal with the concepts of well-being and/or happiness. The conventional theoretical lines and principles that govern the academic and policy regimes that influence well-being of humanity in broader dimensions of life: economic, political, social, environmental, health, among others was questioned. The main motivation of basic research is to expand man's knowledge, not to create or invent something; in other words, basic research lays down the foundation for the applied science that follows This is go in line with the objective of the study. While making analysis and interferences, the study borrowed theories from a host of social sciences and humanities In this regard, positive psychology, social psychology, economic sociology, behavioral and institutional economics and economic theories were considered
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