Chapter
Misery Index
43:57 - 46:58 (03:00)
The Okun misery index only uses the consumer price index (CPI), while the Huffington Post's real misery index multiplies the unemployment number by 1.7 before adding it to the inflation rate of food and drink, fuel, and healthcare. A 2001 paper concluded that unemployment causes 1.7 times more misery than inflation.
Clips
Explaining the differences between the classic Misery Index and the Real Misery Index, which takes into account additional factors like inflation rates for food, drink, fuel and healthcare, and the proper weighting for unemployment and inflation rates.
43:57 - 46:58 (03:00)
Economics
Summary
Explaining the differences between the classic Misery Index and the Real Misery Index, which takes into account additional factors like inflation rates for food, drink, fuel and healthcare, and the proper weighting for unemployment and inflation rates.