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International Journal of Research in Social Sciences
Year : 2020, Volume : 10, Issue : 8
First page : ( 64) Last page : ( 73)
Online ISSN : 2249-2496.

Role of Positive Psychology in Economic Decision

Hassan Nazia1, Prof. Singh Kartar2

1Research Scholar, Department of Teachers Training and Non-formal Education, Faculty of Education, Jamia Millia Islamia

2Professor, Department of Teachers Training and Non-Formal Education, Faculty of Education, Jamia Millia Islamia

Online published on 10 December, 2021.

Abstract

Positive psychology is a branch of psychology mainly deals with positive influence. It is a kind of liberation from the current circumstances. Through positive psychology people try to find happiness from moment to moment. It's an approach initiated by Seligman focusing on dealing with negative experience through positive thinking, positive light and also deals with strength rather than weakness. This paper highlights the benefits of positive psychology, the importance of psychology especially positive psychology in economics and also discuss the role of positive psychology in decision making in economics. The conclusion has been drawn based on review of papers, articles, books which shows that positive psychology has a positive effect regarding decision making in various economic activity. A mental strong being takes strong decision in life especially day to day economic activity. He will be a good consumer, profit seeker, a good producer. He will take strong financial decision. A strong well-being takes good decision regarding consumption, production and distribution of income. A happy person has strong innovative ideas which he uses to apply in business activity. A nation will progress if its economy grows and that rest in the hand of people of a country i.e. A policy maker, A producer and consumer etc. and its very important for all of them to be mentally strong through positive psychology.

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Keywords

Psychology, Positive Psychology, Economics, Economic Decision.

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