I think an important point to make is that it isn't that people in the Nordic countries are happier with less as such. It is that they already have, or have access to, the things they need to be relatively happy. If you don't then of course it is a constant struggle to compensate. Unfortunately I think this is rapidly changing.
I would be curious what the advertising landscape is like in Norway vs (for instance) the US. Clearly many Americans have their essential needs covered, and yet there seems to be a constant advertising driven pull for more and more to achieve ‘real’ happiness.
> Clearly many Americans have their essential needs covered [...]
Not in the same way. You can even be quite wealthy and still have very negative consequences from getting fired, evicted or having the housing market crash. Not only as result of the direct or financial consequences, but also to your sense of freedom and self-image. I guess you could say that the Nordics at their best isn't so much about being happy, as in the pursuit of happiness, but about being trouble free.