Bloomberg: The 15 Most Miserable Economies in the World
Consumers in Venezuela are expected to suffer the most in 2015
Inflation is a disease that can wreck a society, Milton Friedman, the late Nobel laureate economist, once said. Add rising unemployment to the diagnosis, and his profession ascribes a rather non-technical term to the debilitating effect on people: misery.
That affliction this year will be most acute in Venezuela, Argentina, South Africa, Ukraine and Greece — the five most painful economies in which to live and work, according to Bloomberg survey data that make up the so-called misery index for 2015. (It's a simple equation: unemployment rate + change in the consumer price index = misery.)
WNU Editor: here is my prediction .... Ukraine will be in competition with Venezuela for the top spot by the end of the year.
My God, South Africa took me a little by surprise there.
ReplyDeleteI mean I knew they were having it bad over there, but to be worse than Ukraine after what has already happened, that is a bit jarring.