Gross Domestic Product is a measure of the level of income yielded by an economy over a stipulated period. GDP is a measure limited to one aspect of economic life, the production of material goods.
Gross National Happiness on the other hand, is a measure of the quality of living. The concept had been introduced by the Bhutan royalty in 1972 in alignment with the spiritual lessons from Buddhism which is largely the national religion of the economy.
To calculate the effect a certain economic sector has on GNH, Bhutan’s economic activity is measured by nine distinct criteria, or dimensions. These dimensions include concepts like time use, environmental diversity and psychological well-being.
The Bhutanese may be onto something and hopefully the idea of people before profit will grow more and more. The ultimate end goal is wellbeing and happiness of the people. And GDP is just one of the means.