GDP (gross domestic product) has long been the instrument for measuring national economic wealth.  However, it has  increasingly come under fire as being too narrow and many social commentators have called for measures of GDH – gross domestic happiness.  However, critics argue that neither  measure takes into account activities that degrade overall quality of life, including damage to the environment and the social costs of certain forms of development.  For example, you may think you are both happy and financially secure, but if the place where you live is contaminated by pollutants (let’s say asbestos) then the downstream impacts can be enormous.  If this subject interests you, see http://www.ethicalmarkets.com.