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. >> meik wiking is the ceo of the happiness institute located in copenhagen.ou guys? >> one reason the welfare state. it is focusing on reducing extreme unhappiness. investing in public goods that create quality of life for all. >> but this comes at a steep cost. danes pay more income tax than any other nationality as much as 60%. >> if you ask danes, are you happily paying your tax? >> yes, i'm happy to pay my tax. that's because people are aware of the huge benefits they get in terms of quality of life. >> jeffrey sachs says think or benefits, too. like the fact that denmark has one of the highest income equality and lowest poverty rates of any western nation. >> basically, social mobility is high because the obstacles are very, very low. you're really given the basics for a good healthy productive life. >> what do you say to someone who like, but, built that's socialisms. >> with they call social democracy. the idea is we're a market economy. we're privately owned. we better compete so they have to be at the top of the game in technology, in research and de