Dais Newsfeed | 11/06/2022 11:31 AM | Click to read full article
Economists in the 1970s devised a concept to describe what people were experiencing under stagflation: A misery index, which basically added up the rate of consumer inflation and the rate of unemployment.
If one were to construct such an index today, what would it show? To no one’s surprise, “misery” is highest in Turkey, Argentina, and South Africa. After that come Russia and Brazil, keeping company with Pakistan and Egypt. Next comes India.