Stuff You Should Know Selects: What's the misery index?
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Jul 23, 2022 Explore the quirky world of the Misery Index, a measure of economic health full of unexpected humor. Discover how personal stories blend with economic commentary as hosts discuss societal discomfort. Delve into the historical context of stagflation and the impact of oil embargoes on the economy. Learn about the complexities of measuring economic distress and the criticisms of the index's accuracy. With laughter, the hosts reflect on their podcasting journey and share amusing confessions about films they've never seen.
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Politicized Economics
- Economics is heavily politicized, with liberal and conservative approaches.
- This polarization suggests that perhaps no single economic theory holds all the answers.
Okun's Influence on Kennedy
- Arthur Okun advised Kennedy to implement both conservative and liberal economic policies.
- This blend, including increased spending and tax cuts, proved successful during Kennedy's recession.
Economists and Data
- Economists are fascinated by data analysis, often finding patterns others overlook.
- They see economics as a puzzle and dedicate their time to understanding it.