Material living standards are used to assess how well or badly economies are doing in both the advanced and developing world. On one hand, measuring an economy this way, through GDP, does not take into account people's well-being. On the other hand, as more emphasis gets focused on various happiness indexes, would governments' attempts to increase measured happiness, rather than making life better for its citizens, do more harm than good?

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Tags:  economics,  wellbeing,  happiness,  index