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Economists in the 1970s devised a concept to describe what people were experiencing under stagflation: A misery index, which basically added up the rate of consumer inflation and the rate of unemployment.
Jun 10, 2022
Mar 23, 2022 · The index is a measure of financial distress. Born out of the 1970s, when consumers faced the dismal reality of prices for everyday goods surging at double- ...
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Jun 3, 2022 · And misery was in plentiful supply in the 1970s — unlike gasoline. An oil embargo by Arab nations sent gas prices skyrocketing, causing shortages and long lines ...
Feb 8, 2022 · The misery index was created by Arthur Okun, a top economic adviser to President Lyndon Johnson. It became more widely known in the 1970s and early 1980s.
Sep 3, 2021 · In the 1970s, in the wake of the international oil price crisis, the United States suffered from a prolonged period of high inflation and high unemployment, ...
Feb 10, 2022 · The misery index was created by Arthur Okun, a top economic adviser to President Lyndon Johnson. It became more widely known in the 1970s and early 1980s.
Nov 23, 2021 · Arthur Okun, an economist and member of President Jonhson's Council of Economic Advisers, created that first index so the president could get a quick read on ...
Sep 3, 2021 · In the 1970s, in the wake of the international oil price crisis, the United States suffered from a prolonged period of high inflation and high unemployment, ...
May 17, 2022 · The last time we had high inflation in the U.S. was in the 1970s. In that decade, Richard Nixon severed the final links between the U.S. dollar and gold. The ...