Today we will talk to an alternative to GDP: measuring happiness. Here is a list of the happiest developed countries in the world. (from OECD).
Note that the article is misleading in what it says about debt of happiest countries. Norway indeed has a huge surplus, but this is unique. Norway gets significant income from North Sea Oil. Most of it is saved to provide funds in the future, when oil ends.
This is an example of a country trying to maintain constant consumption over time, just as individuals do (we will discuss this in chapter 4).
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