What the Misery Index Says About Our Happiness
When President Lyndon Johnson wanted a quickie take on the U.S. economy during the 1960s, his chair of the Council of Economic Advisers, economist Arthur Okun (1928-1980), came up with the Economic Discomfort Index. Simply the sum of the unemployment and inflation rates, it measured economic distress. Then, during 1980, with an election to win, Ronald Reagan (reputedly) gave the Economic Discomfort Index a new name. Seeing it soar, he called it the Misery Index. He won the election against Jimmy Carter and the Misery Index was born. ….[READ]
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