 The Economics of PsychologySangaralingam Ramesh ()
Chapter Chapter 3 in The Political Economy of Human Behaviour and Economic Development, 2022, pp 87-142 from Springer Abstract: Abstract In the previous chapter, the transition from a unilateral to a multilateral development philosophy was evaluated. This transition involved a shift in the strategy of economic policy moving away from the notion that economic prosperity would be available for all in the long term by pursuing the economic objective of maximising GDP or economic growth. However, this, accompanied with the emergence and dominance of globalisation over the last 40 years, has resulted in increasing the income disparities amongst people within countries as well as between countries. Wealth and income as become concentrated in the hands of the few while the many remain poor. This outcome as led to a growing belief that maximising GDP or economic growth is only one aspect of a multidimensional economic policy. The other aspects of economic policy should emphasise the development and enhancement of human well-being. These kinds of policies should begin even before a child is born, resulting in an adult who is cognitively developed as well as being both resilient and adaptable. Date: 2022 There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-12666-6_3 Ordering information: This item can be ordered from DOI: 10.1007/978-3-031-12666-6_3 Access Statistics for this chapter More chapters in Springer Books from Springer |
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