The 21 Most Miserable Countries In The World
Sep 2, 2014, 18:10 IST
REUTERSA Venezuelan opposition protester prepares to throw a Molotov cocktail during riots in Caracas, March 2, 2004.
It's hard to get by when you don't have a job and the price of goods is rising.
That maxim is behind the dramatically named "Misery Index," which adds together a country's unemployment and inflation rates. The higher the number, the more "miserable" your country is.
The index was created by economist Arthur Okun, and it was an extremely popular measurement during the Jimmy Carter and Ronald Reagan presidencies.
There have been some criticisms of the misery index. Extensive studies have shown that unemployment influences happiness (or rather, unhappiness) significantly more than inflation.
Still, few would argue that both unemployment and inflation are bad when they are very high.
Bloomberg's Alex Tanzi compiled a list of the "most miserable countries" in the world according to this index. We highlight the 21 countries that scored 10 or higher.
Some famously miserable countries are noticeably absent from this list. Bloomberg left them off because either the unemployment rate or inflation rate (or both) were absent or dated. But we thought we'd share them with you anyway.