Gross National Happiness

I just read this today, a Wikipedia article on the Buddhist Bhutan's economic development framework under the outgoing King, Jigme Singye Wangchuck.

excerpt: The four pillars of GNH are the promotion of equitable and sustainable socio-economic development, preservation and promotion of cultural values, conservation of the natural environment, and establishment of good governance. Read more

Thoughts?
What recipes for economic development would bring about the most happiness for the most people? Towards what social goals should nations (e.g. Nigeria, USA) design their economies?