In 1972, the King of Bhutan announced that “gross national happiness is more important than gross domestic product.” It was a charming sound bite that captured imaginations worldwide. Finally, someone was brave enough to say it: Happiness matters more than money. At the time, Bhutan was poor. More than 50 years later, Bhutan still ranks near the bottom of countries globally in per capita gross domestic product (GDP), a metric that captures the dollar value, per person, of the goods and services that a country produces.  In Bhutan today, life expectancy is 73 years — higher than the...

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