The most famous statement about happiness in the United States was occasioned, happily, by its birthday, July 4, 1776: “We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty, and the Pursuit of Happiness.”
The Declaration of Independence then proceeds to explain the need for a government to secure these rights, and provides various hints about the proper institutional arrangements to do so. But no elaboration of the “Pursuit of Happiness” can be found there. The Constitution framed years later, in 1787, to effect the Declaration’s principles, does not mention happiness, though perhaps its announced purpose “to secure the Blessings of Liberty for ourselves and our posterity” subsumes happiness as a goal.
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This article is part of our supplement on happiness, which unites us all. For more happiness stories visit our dedicated page.
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Thomas Jefferson, primary author of the Declaration, freely admitted that he had not sought originality. The Declaration, he later claimed, was meant to convey the common sense of “the American mind”. But the mind most clearly dominant in the Declaration is that of an Englishman – the philosopher John Locke. Locke had taught that the basic purpose of government was to provide individuals protection for essential interests that he, following his countryman Thomas Hobbes, dubbed “rights”. Locke formulated these rights as a trilogy of “life, liberty, and estate,” together conceived as the “property” of every person. Rights are the things we humans really, seriously want: to live, to be free, and to attain some possessions to comfort our days on earth.
Jefferson replaced Locke’s “estate” with “Pursuit of Happiness”. Perhaps he did not want to taint the poetic Declaration with mention of prosaic material concerns. But this seems unlikely given the inclusion of commercial and fiscal grievances in the long catalogue of specific complaints that follows (appropriation of land, curtailment of trade, and taxation without consent). Or perhaps he meant to suggest that personal happiness requires more than wealth. Health, family, friends, knowledge and reputation easily spring to mind as other ingredients of happiness. What is undeniable, though, is that the fundamental American statement on happiness affirms only its pursuit as a matter of personal right. Some questions immediately arise.
First, is the pursuit of happiness itself happy? The very grammar of the phrase seems to deny this. Locke himself had taken pains to hint that acquisition of property usually involves labour that is unpleasant. Not many people happily anticipate returning to work after the weekend. If this is true, American life seems to promise a long, laborious chase for something that, like an imagined oasis in the desert, continually recedes from our striving. As a palliative for our efforts, Locke invites us to contemplate the penury of a “king of the Indians” relative to the income of a hard-working “day labourer in England”. But won’t the worker’s thoughts more likely be directed toward the old school chum now managing the hedge fund? The pursuit of happiness just may not deliver on its promise. It was, after all, a British band steeped in American blues that famously proclaimed, despite multiple attempts, its failure to obtain any satisfaction.
Second, what consequence follows from a personal right to pursue happiness? Rights, as you recall, are property. Our immediate thought might be that we can do with our property, or choose what pursuit, we wish, but no human community could survive such absolute personal freedom. At a minimum, we can see that no person seeking happiness should be allowed to deprive another person of the equivalent right, given that “all men are created equal”. So I can pursue my idea of happiness only if the community legitimises my idea of happiness as something that can be safely pursued. If I disagree with the community’s limit, then equality of right dictates that everyone else can disagree, so we will never have an order sufficient to make my pursuit secure. The community thus cribs and confines happiness within allowable limits, which may leave me profoundly unhappy, since this right is said to be something inseparable – unalienable – from myself.
Next, doesn’t my personal right to pursue happiness beget another reason for unhappiness? Locke, again following Hobbes, thought that the necessary curbs on happiness’s pursuit would only prove effective when everyone reflected on their absence. This is the famous teaching of the “state of nature.” Equal natural liberty means freedom to judge for oneself what one requires for life and happiness. This freedom to judge encompasses liberty to act on one’s judgement, even so far as the right to kill anyone deemed a threat to life and happiness. The miasma of violent death thus pervades the natural human state. Hobbes and Locke are counting on the fear of untimely death to compel us to accept the bonds of civil society. The “stick” of death and the “carrot” of happiness channel the strongest human passions in the proper direction. But doesn’t mortal anxiety, however useful, inevitably corrode the possibility of happiness? As yet another Englishman, Edmund Burke, later complained of the modern, liberal ideas: “At the end of all their vistas, you see nothing but the gallows”.
This sombre talk of death brings me to the final point. Chasing the idea of “the pursuit of happiness” has led to the conclusion that someone freed from fear of death, unfettered by concerns of costs to others, liberated from painful drudgery of the daily grind, may actually come close to a real feeling of happiness. Egoistic, irresponsible ignorance as bliss? Perhaps, Mr Jefferson, we should pursue something else – so that happiness will find us.
Roger McDonald teaches political science at John Jay College at the City University of New York, explains
The specs
Engine: 4.0-litre flat-six
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
The specs
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Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh132,000 (Countryman)
Turkish Ladies
Various artists, Sony Music Turkey
Profile of Whizkey
Date founded: 04 November 2017
Founders: Abdulaziz AlBlooshi and Harsh Hirani
Based: Dubai, UAE
Number of employees: 10
Sector: AI, software
Cashflow: Dh2.5 Million
Funding stage: Series A
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David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
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UAE currency: the story behind the money in your pockets
Other acts on the Jazz Garden bill
Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.
TOURNAMENT INFO
Women’s World Twenty20 Qualifier
Jul 3- 14, in the Netherlands
The top two teams will qualify to play at the World T20 in the West Indies in November
UAE squad
Humaira Tasneem (captain), Chamani Seneviratne, Subha Srinivasan, Neha Sharma, Kavisha Kumari, Judit Cleetus, Chaya Mughal, Roopa Nagraj, Heena Hotchandani, Namita D’Souza, Ishani Senevirathne, Esha Oza, Nisha Ali, Udeni Kuruppuarachchi
What is a robo-adviser?
Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.
These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.
Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.
Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.
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if you go
The flights
Emirates flies to Delhi with fares starting from around Dh760 return, while Etihad fares cost about Dh783 return. From Delhi, there are connecting flights to Lucknow.
Where to stay
It is advisable to stay in Lucknow and make a day trip to Kannauj. A stay at the Lebua Lucknow hotel, a traditional Lucknowi mansion, is recommended. Prices start from Dh300 per night (excluding taxes).
How it works
A $10 hand-powered LED light and battery bank
Device is operated by hand cranking it at any time during the day or night
The charge is stored inside a battery
The ratio is that for every minute you crank, it provides 10 minutes light on the brightest mode
A full hand wound charge is of 16.5minutes
This gives 1.1 hours of light on high mode or 2.5 hours of light on low mode
When more light is needed, it can be recharged by winding again
The larger version costs between $18-20 and generates more than 15 hours of light with a 45-minute charge
No limit on how many times you can charge