You've heard of GDP, GNP, maybe HDI. Now see the BBC video on how the remote Himalayan kingdom of Bhutan considers GNH - Gross National Happiness
http://news.bbc.co.uk/player/nol/newsid_4810000/newsid_4813200/4813298.stm?bw=bb&mp=wm&news=1&nol_storyid=4813298&bbcws=1
And also watch how they cope with market failure:
1. Ban on tobacco
2. Removal of Coke & Pepsi advertisements
3. Ban on some TV channels (World Wrestling Federation, MTV)
--> Students glued to TV, less inclined to do homework!
'Happiness is the ultimate desire of every individual.'
- Home & Cultural Affairs Minister, Bhutan
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