Thank you @wrashi.
I really appreciate your reply. I am discussing my ideas with you, @yawnguy and others. I will clarify and even revise my ideas once we are done discussing.
Some of the things I think about haven't been fully developed but writing about it + reading the feedback from you guys will help me.
One of the things I am realizing is that 'The Pursuit of Happiness' is probably a lot different from Happiness itself.
Some kinds of happiness might involve scarcity of resources while other kinds of happiness might be limitless.
I tend to think that the more balanced forms of happiness i.e. the ones that are more neutral on a scale of Pleasure and Displeasure bare a lower cost on society.
Another thing that I want to point out is that humans are not the only ones living on earth. Mankind is progressing and experiencing more abundance each and every decade but wildlife is suffering.
There is also the possibility that our focus on happiness and abundance now with little regard for the cost, might cause unhappiness and scarcity for us in the future, or even for the generation after us.