The transition to a highly automated green economy has propelled the nation's real GDP per capita to record heights, with the clean energy and technology sectors expanding by 11.2% over the last fiscal year. This rapid economic growth has driven substantial increases in average real disposable incomes, allowing many households to purchase high-end energy-efficient appliances and premium electric vehicles. The treasury has welcomed these figures as proof of structural resilience and rising material living standards across the board.
However, social researchers are pointing to a stark divergence between economic output and national welfare indicators. While material wealth has grown, national surveys show that measures of anxiety and work-related stress have reached unprecedented levels. The rapid pace of workplace automation has forced massive workforce transitions, leading to structural underemployment and a loss of community cohesion in former industrial heartlands.
Furthermore, despite the rising tide of real incomes, national indices measuring subjective happiness have remained flat or even declined over the past decade. Analysts suggest that the psychological toll of keeping up with social expectations, coupled with the erosion of leisure time, has completely offset the utility gained from increased material consumption.
With reference to the last paragraph in Extract C, assess the impact of economic growth on subjective happiness.
