Some people believe that happiness comes from within.
As humans we can be anywhere on the scale between "miserable" and "happy."
In the sphere of economics, misery tends to flow from high inflation, steep borrowing costs and unemployment.
The most surefire way to mitigate that misery according to Steve Hanke of the Cato Institute is economic growth.
All else being equal, happiness tends to blossom when economic growth is strong, inflation and interest rates are low, and jobs are plentiful.
Visual Capitalist recently created a chart using Hanke's data, and it visualises the 2019 Misery Index rankings, across 95 countries.
The index uses four key economic variables to rank and score countries:
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- Lending rate
- Unemployment rate
- GDP per capita growth
Here are the Misery Index scores for all 95 countries.
Who would have thought Thailand would be the least miserable country and Australia would rank in the middle of the pack?
Which of these factors are driving scores in some of the more “miserable” countries?
Which countries rank low on the list, and why?