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Econimic Wealth and Happiness - Essay Example

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Economic wealth and happiness Name: Instructor: Task: Date: Abstract In economic sense, economic wealth has a direct relationship with healthier living and happiness. This is supported by several factors such as issues of proper expenditure of public funds in improving different sectors of the economy…
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Download file to see previous pages 45). Similarly, the determination of the government to improve on the national income is a significant technique of distributing wealth uniformly hence attainment of happiness and healthy existence. Economic wealth is defined as the great quantity of precious resources or possessions of material nature or the power over such possessions. On that account, many people have come with various claims linking economic wealth and happiness. Therefore, this report attempts to expand on the claims which some say also leads to healthier living (Henslin 2007, p. 105). Similarly, the discussion delves into different aspects generating economic wealth and how it translates to happy and healthier living. Furthermore, the paper explores the effective utilization of public finance in various sectors of the economy such as manufacturing and mining. Additionally, the discussion also explains the significance of economic security among various societies with the aim of boosting healthy business transactions and happy living. Apart from issues of economic security, there are also the issues of proper management of the GDP for equitable distribution of wealth among citizens in the society. This is backed by growth and developmental theories which explore the matters of investments and savings among people in economically prosperous nations. ...
For instance, the wise spending of public finance in various sectors such tourism, agriculture, manufacturing, education and sports results to growth of those sectors. In this case, for example, money invested in tourism sector to boost infrastructure and buying of essential tools and equipments help in attracting more tourists in the respective country (The Open University 2012, p.2). On that account, a large number of tourists translate to increased foreign exchange. In addition, when many visitors visit a country, it means creation of more jobs hence many families are able to meet their daily needs. Furthermore, increased work force assists the government in revenue collection in the form of taxes. These taxes are used to expand other sectors of the economy such as improvement of infrastructure which translate to enhanced services to the citizens. Therefore, the tapping of such economic wealth helps in putting the nation at ease in terms of satisfaction and happiness. Another reason why economic wealth brings happiness to societies is the provision of security. For example, big nations such as the US, China, Japan, Russia and South Africa among other prosperous countries are able to control and influence most world affairs due to their economic power. In return, such nations are able to provide many resources for their citizens such security from external attacks and other global trade exploitations that have adverse effects on their well being. On that perspective, when citizens are assured of security, their societies are able to transact their businesses without fear of damage to their enterprises and this leads to happiness and healthier lives (Dean 2010, p. 145). Additionally, economic security is seen in the form of available resources of doing ...Download file to see next pagesRead More
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