ReutersFor the third year in the row, Venezuela is the most miserable nation in the world according to analysis published by the Cato Institute.
The institute’s annual Misery Index ranks nations based on data from the Economist Intelligence Unit (EIU). The rankings, which are compiled by Johns Hopkins University Professor Steve H. Hanke, follow a simple a formula.
A nation’s ‘misery’ can be calculated by summing unemployment, inflation, and bank lending rates, minus real GDP’s percentage change.
Over the past year, Venezuela’s misery has skyrocketed.
In 2014, it was the most miserable nation with an index rating of 106.3. In 2015, Venezuela’s …read more
Source: Business Insider
