Is there a Happiness formula?

Psychologists have now come up with a formula for happiness.

Pleasure + engagement + meaning = happiness.

From the BBC in the UK comes a series on "The Happiness Formula"!

Scientists clearly do not have all the answers. There is as yet no simple and comprehensive formula for happiness.
However, the new emphasis on human relationships, flow and meaning does offer an interesting insight into what really makes us happy, and challenges us to think whether it might be possible to live happier lives.

Read the article and also watch a number of clips online http://news.bbc.co.uk/1/hi/programmes/happiness_formula/4773021.stm

For more information read Richard Layard's lectures (.pdf file format) at the London School of Economics
http://cep.lse.ac.uk/events/lectures/layard/RL030303.pdf