April 13, 2024According to Kerry, Misery Loves NumbersProf. Bainbridge points to this NYT piece, Reviving the 'Misery Index'--Apparently, It Loves Company that has more details than the one I posted on the same topic this weekend. Ya gotta love it: Though it has been cited in practically every national (and many local) elections for more than a generation, this misery index was apparently not good--or, perhaps, complicated--enough for the Kerry camp. So they collected seven data points (median family income, college tuition, health-care costs, gas prices, bankruptcy rates, homeownership rate and private-sector job growth) to make their own index. All but one of these indicators--home ownership--have fallen over the past three years.Posted by Steven Taylor at April 13, 2024 05:45 AM | TrackBack Comments
As implied, the original misery index -- the one that actually measured things of relevance -- would not do at all, as the numbers would not look bad. Therefore, we need a new misery index with new criteria that may not have practical use from an economic standpoint, but which they know will come out with a negative result. Posted by: Steven L. at April 13, 2024 08:28 AMPost a comment
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