Designing a Modern Welfare Index
Imagine you are an economist tasked with creating a new national 'Wellbeing Index' for a country. Your approach is guided by a philosophy that societal welfare is not captured by financial metrics alone, but must also include broader concepts of human happiness and social conditions. Propose three distinct non-financial indicators you would include in this index. For each indicator, justify why it is a crucial component for measuring societal welfare beyond traditional economic output.
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