Dd101 Tma04

Connection between economic growth, wealth, health and happiness


  1. Introduction 3

  2. What is an economy? 4
        2.1 The UK economy 4
        2.2 Economic Globalisation 4

  3. Economic Growth & Measurement 5
        3.1 Growth and Environmental Gains 5
        3.2 Environmental Losses and Repair 5

  4. National Well-being, Health and Happiness 6
        4.1 Alternative Measurements 7

  5. Conclusion 7

  6. References 8

Connection between economic growth, wealth, health and happiness

  1. Introduction

Economies around the world are varied and the wealth of the country is portrayed by its economic growth.   Countries with high economic growth are generally referred to as developed countries and those with lesser growth are considered to be developing countries.   Research has been conducted by sociologists, economists and psychologists to determine the link between economic growth and happiness.
Whilst it is agreed that economic growth brings wealth to the country, this report will investigate whether economic growth can bring health and happiness also.

2. What is an economy?

An economy is a system to control the income, assets, resources and wealth of a country.   The production, consumption, distribution, imports and exports of goods are all part of an economy of a country.   The economy is organised in such a way that it controls the prices and consumption of goods in a western society like the UK.   By controlling how much is consumed and what prices are paid, the demand and supply of goods can be controlled.

2.1 The UK Economy

The UK government is also responsible for collecting various taxes.   Health care, education, free meals and various benefits are provided by the Government through taxes paid. The UK economy is one of the largest 7 economies globally, therefore recognised as a developed country.   The majority of countries in the east are seen as developing...