People wait in line to enter a store that sells products in U.S. dollars in Havana, Cuba, July 20, 2020. (Alexandre Meneghini/Reuters)

It is essential for policy-makers to have a read of their constituents’ well-being, as viewed through the lens of economic statistics.

Author’s note: Below is the latest installment of Hanke’s Annual Misery Index (HAMI). What is it — and how should we conceive of man’s well-being? The human condition lies on a vast spectrum between “miserable” and “happy.” In the economic sphere, misery tends to flow from high inflation, steep borrowing costs, and unemployment. The surefire way to mitigate that misery is through economic growth. Comparing countries’ metrics can tell us a lot about where in the world people are sad or happy. HAMI gives us the answers. My version of the misery index is the sum of the year-end unemployment,


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