I've focused the title of the story on one concept which I find quite enlightening and which might be the easiest to measure: that of "regrettables":

GDP includes many items that do not boost human wellbeing. If a hurricane or an earthquake destroys an entire region, the reconstruction effort is counted as a boost to GDP - even if it only replaces something that was there not long before.

The chart shown does cut some corners in assuming that happiness is the greatest good. This hints at a utilitarian approach, which is largely discredited in moral philosophy.