I can give you a good holistic explanation for why GDP growth alone is not required for national happiness. According to some, Nordic countries tend to be happier. They have the highest taxes, they work less, have virtual universal health care, but at the same time, on a per capita and per hour basis, they're virtually just as productive. Not that I blindly favor such policies here, but I don't know, maybe there's something to be learned from them. They seem to have had stable growth since the 80s. (Note: I really want to stable "stable.")