Episode
Selects: What's the misery index?
53:53
Published: Sat Jul 23 2022
Description
Economists love their data because somewhere in the numbers lies the answer to the ills of the country. They also love to frame data in a way people can relate to. Such is the case with the famous "misery index." Learn all about it in this classic episode.See omnystudio.com/listener for privacy information.
Chapters
Join the hosts of How to Money to get practical advice on personal finance topics like saving money at the grocery store, buying vs. renting, and maximizing your income potential in today's unpredictable economy.
00:00 - 02:59 (02:59)
Summary
Join the hosts of How to Money to get practical advice on personal finance topics like saving money at the grocery store, buying vs. renting, and maximizing your income potential in today's unpredictable economy. Tune in on the iHeartRadio app, Apple podcasts, or your preferred podcast platform.
EpisodeSelects: What's the misery index?
PodcastStuff You Should Know
The hosts discuss issues with hats and thanking someone for a sign made seven years ago.
02:59 - 05:34 (02:35)
Summary
The hosts discuss issues with hats and thanking someone for a sign made seven years ago.
EpisodeSelects: What's the misery index?
PodcastStuff You Should Know
The accuracy of economic predictions is debated as economists attempt to analyze and solve economic puzzles, but differing opinions among experts suggest that the field may not have a definite grasp on certain aspects of the economy.
05:34 - 11:46 (06:11)
Summary
The accuracy of economic predictions is debated as economists attempt to analyze and solve economic puzzles, but differing opinions among experts suggest that the field may not have a definite grasp on certain aspects of the economy.
EpisodeSelects: What's the misery index?
PodcastStuff You Should Know
Two recommended podcasts – How to Money and The Manawalk Caves.
11:46 - 16:03 (04:17)
Summary
Two recommended podcasts – How to Money and The Manawalk Caves.
EpisodeSelects: What's the misery index?
PodcastStuff You Should Know
The Arab oil embargo during the 1970s led to high unemployment rates and high inflation in the United States.
16:03 - 19:28 (03:24)
Summary
The Arab oil embargo during the 1970s led to high unemployment rates and high inflation in the United States. The embargo was a response to the US support for Israel in the Yom Kippur War, and resulted in a cut-off of oil from Arab countries to the US and other countries aligned with Israel.
EpisodeSelects: What's the misery index?
PodcastStuff You Should Know
The Misery Index is a measurement tool that factors in inflation and unemployment to create a snapshot of an economy's well-being for a particular day.
19:28 - 22:24 (02:56)
Summary
The Misery Index is a measurement tool that factors in inflation and unemployment to create a snapshot of an economy's well-being for a particular day. This index can also be used to predict changes in political leadership.
EpisodeSelects: What's the misery index?
PodcastStuff You Should Know
The "Misery Index" measures the inflation rate plus the unemployment rate, and in 1974, it jumped to a high of 17 during the Watergate crisis, making some people believe that if the index was low, Watergate wouldn't have been as impactful.
22:24 - 24:55 (02:30)
Summary
The "Misery Index" measures the inflation rate plus the unemployment rate, and in 1974, it jumped to a high of 17 during the Watergate crisis, making some people believe that if the index was low, Watergate wouldn't have been as impactful.
EpisodeSelects: What's the misery index?
PodcastStuff You Should Know
The economic impact of a presidential term is felt the most around eight years later.
24:55 - 28:39 (03:44)
Summary
The economic impact of a presidential term is felt the most around eight years later. The shock to the system from events like the oil embargo cannot be solely attributed to one president's term in office.
EpisodeSelects: What's the misery index?
PodcastStuff You Should Know
The flaws in the Misery Index are exposed by neoliberalism policies that still impact America today, despite the index showing lower misery levels during the Clinton presidency.
28:39 - 31:55 (03:16)
Summary
The flaws in the Misery Index are exposed by neoliberalism policies that still impact America today, despite the index showing lower misery levels during the Clinton presidency.
EpisodeSelects: What's the misery index?
PodcastStuff You Should Know
Economist Steve Hanke developed a modified version of Okun's "misery index" to evaluate a president's entire term by looking at factors such as exchange rate in the black market, real inflation rates, and long-term GDP growth.
32:03 - 39:25 (07:22)
Summary
Economist Steve Hanke developed a modified version of Okun's "misery index" to evaluate a president's entire term by looking at factors such as exchange rate in the black market, real inflation rates, and long-term GDP growth.
EpisodeSelects: What's the misery index?
PodcastStuff You Should Know
U3 unemployment statistics include people who have given up on finding work as well as those who are working part-time but want full-time work, leading some to criticize its accuracy.
39:25 - 43:57 (04:32)
Summary
U3 unemployment statistics include people who have given up on finding work as well as those who are working part-time but want full-time work, leading some to criticize its accuracy.
EpisodeSelects: What's the misery index?
PodcastStuff You Should Know
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.
43:57 - 46:58 (03:00)
Summary
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.
EpisodeSelects: What's the misery index?
PodcastStuff You Should Know
The speaker discusses the impact of unemployment on life satisfaction and the difficulties of living with a disorder.
46:58 - 50:32 (03:34)
Summary
The speaker discusses the impact of unemployment on life satisfaction and the difficulties of living with a disorder. He also expresses a desire for factual conversations instead of political arguments.
EpisodeSelects: What's the misery index?
PodcastStuff You Should Know
This podcast explores the mysterious story of three boys who entered a Tennessee cave and what may have happened to them.
50:32 - 52:47 (02:14)
Summary
This podcast explores the mysterious story of three boys who entered a Tennessee cave and what may have happened to them. The podcast consists of a single season that plays out over several days in real-time.
EpisodeSelects: What's the misery index?
PodcastStuff You Should Know
Jay Shetty's On Purpose podcast features interviews with inspiring individuals who share the tools they used to make a difference.
52:47 - 53:47 (01:00)
Summary
Jay Shetty's On Purpose podcast features interviews with inspiring individuals who share the tools they used to make a difference. Meanwhile, Angela Yee's Lip Service podcast provides a platform for artists to share personal details about their love lives and relationships.