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| Topic: |
Business
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| Number of pages / Number of words: |
9 / 2357 |
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(Veenhoven, 2002, p. 6).
A Return to Early Economists
The early theorists of economics, Smith, Bentham and Mill shared a belief that individuals act in the pursuit of happiness, basing their desires and decisions on that which maximises their pleasure, and amplifies their utility. In The Theory of Moral Sentiments, Adam Smith considers that individual behaviour (economic activity) is driven by passions, but that we are under the illusion that with the pursuit of material wealth and social status comes permanent happiness...
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In The Theory of Moral Sentiments, Adam Smith considers that individual behaviour (economic activity) is driven by passions, but that we are under the illusion that with the pursuit of material wealth and social status comes permanent happiness. (Ashraf, Camerer, & Loewenstein, 2005, p. 3). Jeremy Bentham too understood utility as satisfaction, (Frey & Stutzer, 2001, p...
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General points of the essay
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