A measure of well-being

Happiness = (gratitude)/(gratification).

Gratitude = wanting what you have;

Gratification = having what you want.

The collective cannot engender happiness; it can only create the conditions for those seeking happiness to be able to achieve it.

Well-being depends less on material goods and more on the social context in which the material goods can be enjoyed.

Institutions can create the habitat for happiness.

Actually, the collective can go further and engender a culture wherein people strive to belong to each other, but that would be asking for more than what the present day leadership could imagine.