New Frontier: Positive Economic Psychology

Abstract This article introduces Positive Economic Psychology, a novel discipline that integrates Positive Psychology and Economic Psychology. The article elucidates the two parent disciplines, detailing their respective goals, remits, key topics, research methods, and sub-disciplines. The article then delves, with a critical eye, into the historical and intellectual backdrop that catalysed the birth of Positive Economic Psychology. Next, the article describes Positive Economic Psychology, a field situated at the junction of psychological wellbeing, and economic decision-making and behaviour, defining it as a discipline that is concerned with examining and promoting economic wellbeing, focusing on the conditions and processes that can foster economic prosperity and optimal economic functioning in individuals, groups, and institutions. The article draws the contours of the new discipline and outlines its goals and key principles. It also predicts its future trajectory, considering both its potential for profound societal impact and the challenges that it may face.