Across the globe there is growing skepticism about the usefulness of GDP as a measure of national well-being. Consequently, several alternative quality-of-life (QOL) measures were developed which either aim at healing the GDP, complementing it, or replacing it. This chapter portrays some of...

Over the 1990-2000 decade happiness in China plummeted despite massive improvement in material living standards. This finding contradicts the notion that income growth at low living standards leads to gains, not losses, in happiness. We explain this puzzle by drawing on a specific version of...