Many studies have confirmed that wealthier nations tend to be happier than poor ones, and that rich people are generally more satisfied than their less affluent fellow citizens. Yet other findings from several relatively well-to-do countries, such as South Korea and the United States, suggest that people there are essentially no happier today than they were 50 years ago, despite a doubling or quadrupling of average per capita income. … Since happiness is ultimately what people want the most, while wealth is only a means to that end, the primacy now accorded to economic growth would appear to be a mistake. In order to know more, let’s see this excellent paper from Project Syndicate written by Derek Bok.