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misery indexJoe Segen2016-12-28T21:47:35+00:00
A measure of a country’s unhappiness, from economist Arthur Okun’s summation of unemployment and inflation rates, which assumes that higher unemployment and worsening inflation create socioeconomic costs that translate into misery.
The lower the MI–e.g., Denmark = MI of 1, the happier the populace. The US MI has ranged from 3 under Eisenhower to 20 under Carter; under Obama it’s 7-8. A high MI is typical of many African countries, in which dictators rule with an iron fist and pillage what goods the country produces, their henchmen often shoot on sight; there is little food, shelter, safety, and sense of future