The objective of this work was to examine and ascertain the nature, characteristics and new dimensions of positive psychology as well as contribute to the growing research on the science and, consequently, add to the existing stock of knowledge on it. This research found and concluded that positive psychology is still growing as researchers approach it from different perspectives in different socio-economic, cultural, political development stages and contexts around the world. It recommends that the wealth, health and socio-economic development and political stability of countries be quantified based on SET (Stress Elimination Techniques) as a method of accounting for Gross National National Happiness (GNH) in place of Gross National Product (GNP.)