“The Good Life”: What does it mean?

Apparently different things to different people.

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British Airways, for example,has a fabulous tv commercial

set to the warmly comforting 1962 song, ‘The Good Life,” —-and, in place of people passengers, we see the beautiful creatures of the sea ( striped and colored fish), and a pair of lovey dovey seals who almost nose-kiss——all, swim, without a care in the world,  through the ocean-filled terminal.