There is a lot of research into this, especially among the Europeans. Broadly this falls under "standard of living vs. quality of life".
GDP only measures standard of living. Various economists have proposed scales that are more weighted towards quality of life.
The problem is when money is your only hammer, the only nails are things that can be measured in money.
Impact investors are also starting to look into "ESG investing" -- making their investments not on profits alone, but incorporating standardized Environmental, Social, and Governance metrics as well.
This is why I think we need to move to a non-commodity accounting of value. The crypto currencies are all a bit problematic in that they carry forward the same notion of commodity exchange. When the tech is so much more flexible, why not explore new (or old) metaphors.
I have a project which map the gift economy onto web-of-trust style key distribution. Moving the value from a numerical token, to relations between people, seems like a step in the right direction. https://www.wired.com/2014/07/document-coin/
GDP only measures standard of living. Various economists have proposed scales that are more weighted towards quality of life.
The problem is when money is your only hammer, the only nails are things that can be measured in money.
Impact investors are also starting to look into "ESG investing" -- making their investments not on profits alone, but incorporating standardized Environmental, Social, and Governance metrics as well.