Gross National Happiness (GNH) is an attempt to define quality of life in more holistic and psychological terms than Gross National Product.
The term was coined by Bhutan's King Jigme Singye Wangchuck in 1972 in response to criticism that his economy was growing poorly. It signaled his commitment to building an economy that would serve Bhutan's unique culture based on Buddhist spiritual values. Like many moral goals, it is somewhat easier to state than to define. Nonetheless, it serves as a unifying vision for the Five Year planning process and all the derived planning documents that guide the economic and development plans of the country.
While conventional development models stress economic growth as the ultimate objective, the concept of GNH claims to be based on the premise that true development of human society takes place when material and spiritual development occur side by side to complement and reinforce each other. 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.