Even though King Midas was warned that his wish to turn everything he touched into gold could be very harmful, he ignored the advice, filled with greed and avarice.
Therefore, when, upon touching her, he turned his own daughter into gold, he had no one to blame but himself. This was the terrible consequence of the choice he made.
Eudemonia is best described as "The good composed of all goods; an ability which suffices for living well". It means happiness or welfare but if translated, it's meaning is "human fluorishing".