Hanke’s 2023 Misery Index | National Review
Without dollarization, Argentina is destined to remain miserable.
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Hanke's Misery Index is not funny to me. It is a shameful, intellectually feeble descent to click bait. Whereas the UN Human Development Index has GDP per capita, Hanke's index only incorporates rates. If a Misery Index has Norway roughly similar to Mali and Burkina Faso, my instinct is to reject the Misery Index. Mali and Burkina Faso have crushing poverty and ongoing civil strife/ terrorism. If Norwegians are risking their lives to seek refuge elsewhere, that is news to me.I checked the list, and it's really funny. Spain is supposedly worse than Chad, and Luxembourg on par with Cameroon. If nothing else, it's doubtful.
Hanke's Misery Index is not funny to me. It is a shameful, intellectually feeble descent to click bait. Whereas the UN Human Development Index has GDP per capita, Hanke's index only incorporates rates. If a Misery Index has Norway roughly similar to Mali and Burkina Faso, my instinct is to reject the Misery Index. Mali and Burkina Faso have crushing poverty and ongoing civil strife/ terrorism. If Norwegians are risking their lives to seek refuge elsewhere, that is news to me.
I checked the list, and it's really funny. Spain is supposedly worse than Chad, and Luxembourg on par with Cameroon. If nothing else, it's doubtful.
Each year I produce Hanke’s Annual Misery Index (HAMI). By using readily available economic data, I can measure the temperature of the patient, so to speak, to determine just how “miserable” or “healthy” an economy is.
[...]
Then, in 2022, I made a further amendment to HAMI. Following Andrew Oswald’s suggestion, I decided to double the weight put on the unemployment-rate component in HAMI. So, HAMI is the sum of the year-end unemployment (multiplied by two), inflation, and bank-lending rates, minus the annual percentage change in real GDP per capita.
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