Economy
Misery Index
Definition
The sum of a country's unemployment rate and inflation rate — a simple measure of economic distress felt by ordinary citizens.
Explanation
Invented by economist Arthur Okun and popularized during the 1970s stagflation. A misery index above 20 indicates severe economic distress. Venezuela, Argentina, and Turkey have had some of the world's highest misery indices. The US peaked at 21.9 in 1980. Low misery indices (under 10) indicate comfortable economic conditions.