(I) The mountain kingdom of Bhutan has decided to build its national policies on improving its gross national product. (II) The “Easterlin Paradox”, which states that a nation's happiness actually declines in relation to its economic growth, was once thought to be limited to rich Western countries. (III) However, researchers have recently shown that it also applies to developing countries. (IV) For example, even as China experienced extraordinary economic growth between 1990 and 2000, the percentage of Chinese who described themselves as very happy fell from 28 per cent in 1990 to 12 per cent in 2000. (V) Experts attribute this phenomenon to the fact that people's desires and expectations change along with their material fortunes.