Why it is so important to maintain a continuous economic growth within a planet showing clear signs of its exhaustion is an important issue that is questioned more and more often in the last decade or so. The main motivation is to create the resources needed for people to live better and to be happy. A closer look of what the sources of happiness are and how they relate to economic growth reveals that the relation is not straight-forward. Further economic growth depends on many factors but it is assumed that globalization would create favourable conditions for all countries. Empirical evidence indicates that developing countries are in fact the ones that benefit less from globalization.