I was impressed by Rep. Paul Ryan’s review of Jeffrey Sachs’s The Price of Civilization. Actually, I was kind of blown away by its impressive scope. Ryan raises a number of themes, from whether the European social model is as attractive as Sachs believes it to be to the metrics we use to gauge well-being to, well, the meaning of life:

Channeling Bentham, Mr. Sachs calls for the establishment of a national metrics for life satisfaction and sets a 10-year goal to “raise America’s happiness.” Although the specific measures are hazy, the steps are clear: For people to be happy, their government must increasingly shield them from the challenges of life. The good life is thus defined as one of ever-more pleasure at the expense of work.

But happiness in this world results not from avoiding challenges but from meeting them. Happiness is the recompense of real effort, whether intellectual or physical, and of earned success. It comes from achievement—from doing something of economic, artistic or emotional value. The satisfaction to be taken in producing valuable things brings with it a lasting sense of personal fulfillment. Mr. Sachs’s design for paternalistic government will only impede the pursuit of happiness.

Mr. Sachs is more accurate when he argues that economics is not merely about making money. It must serve the higher cause of human well-being and moral development. He is right to dislike the greed and vulgarity that can accompany bourgeois life. But he is wrong to attribute these phenomena to capitalism uniquely. Discord and imperfection arise from human nature. The question is how they can be contained and redirected. Capitalism, together with our moral traditions, has long offered a solution consistent with individual freedom. Mr. Sachs’s approach does not.

Mr. Sachs likely overstates Americans’ enthusiasm for restrictions on work, for the denial of constitutionally protected freedoms or for government controls over media and technology. His conception of the good life could perhaps be mutually agreed to in a small, isolated and homogeneous society. But here in the United States it would have to be imposed on a diverse and globally integrated nation of more than 300 million people. That is neither possible nor desirable.

Ryan’s theory of happiness dovetails with Richard Robb’s “economics of becoming” framework. And it also resonates with some aspects of the work of psychologist Martin Seligman, which John Tierney discussed earlier this year:

“Life satisfaction essentially measures cheerful moods, so it is not entitled to a central place in any theory that aims to be more than a happiology,” he writes in “Flourish.” By that standard, he notes, a government could improve its numbers just by handing out the kind of euphoriant drugs that Aldous Huxley described in “Brave New World.”

So what should be measured instead? The best gauge so far of flourishing, Dr. Seligman says, comes from a study of 23 European countries by Felicia Huppert and Timothy So of the University of Cambridge. Besides asking respondents about their moods, the researchers asked about their relationships with others and their sense that they were accomplishing something worthwhile.

Denmark and Switzerland ranked highest in Europe, with more than a quarter of their citizens meeting the definition of flourishing. Near the bottom, with fewer than 10 percent flourishing, were France, Hungary, Portugal and Russia.

There’s no direct comparison available with the United States, although some other researchers say that Americans would do fairly well because of their sense of accomplishment. The economist Arthur Brooks notes that 51 percent of Americans say they’re very satisfied with their jobs, which is a higher percentage than in any European country except Denmark, Switzerland and Austria.

Switzerland is a country that, like the United States, is defined by a high degree of cultural diversity. And it also has a somewhat smaller public sector than the U.S.