Stiglitz, Sen, and Fitoussi are working with the FR government to create a Happy Society index [PDF] to parallel the measurement of an economy by its GDP growth. They are trying to create metrics for: Health, Education, Personal Activities, Political Voice, Social Connections, Environmental Conditions, Personal Insecurity, Economic Insecurity.

I'd also elevate a functional-attractiveness statistic like the net immigration rate for people who earn more than USD $50K / year ( 2000-chained and PPP-adjusted ). It's fine to try to model citizen satisfaction for policy advisement, you just will be better off tracking some expression of people's personal measures of satisfaction.