This assumes a utopia where all humans are friendly and all countries are at peace. Well-being is great but economic and capital is what gives you power and security. It gives you technology, defense, and weapons. In other words, when your economic power declines, it gives hostile foreign nations with more money (power) to dominate or invade you.
It's not at all at country scale though. Who in Russia wants to attack Ukraine and isn't an oligarch seeking to exploit the people living there (or mentally ill)?
