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Misery Index

  • 31 Jan 2020
  • 1 min read

Why in News

Recently, there has been a demand to measure Indian economy on ‘Misery Index’.

  • The first misery index was created by Arthur Okun in 1960’s and was equal to the sum of inflation and unemployment rate figures to provide a snapshot of the US economy.
  • The higher the index, the more is the misery felt by average citizens.
  • It has broadened in recent times to include other economic indicators, such as bank lending rates.
  • In recent times, variations of the original misery index have become popular as a means to gauge the overall health of the global economy.
  • A variation of the original misery index is the Bloomberg misery index, developed by the online publication.

Source: TH

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