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1.2 Maximizing Happinness: The case of Bhutan

Dear students, We are delighted that you have chosen to take our course 'Economic Growth and Distributive Justice'. We hope that you will not only benefit from the broad knowledge it offers, but also (or maybe, above all) profoundly enjoy the learning process. This week's lecture, the first in the course, will focus on a question you are all familiar with, or at least, with some version of it: Ask not what you can do for the state; ask what the state can do for you. We will try to answer this question, while introducing basic ideas and terminologies related to economics, law, philosophy, psychology, sociology and more. The notion of HAPPINESS will be a major theme, as it is the ultimate answer to the question above. As part of the discussion, we will touch upon diverse issues such as: defining happiness; finding out what makes us happy; and what the state can do to maximize the individuals’ wellbeing. We will discuss market failures such as externalities and free-riding on public goods, and understand the role of the state in overcoming them. So, are you ready? Let's begin! Please take a few minutes to fill in the Welcome Survey that will help us get to know you better. The teaching team Economic Growth and Distributive Justice

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