Whats worse than inflation? Unemployment. According to this New York Times article, unemployment makes people about 4 times more unhappy than inflation does. Higher unemployment and higher inflation correlate with lower levels of reported well-being, the research shows. But the impact of unemployment is much larger. But what do you guys think? Does unemployment really have a great impact on happiness?
http://economix.blogs.nytimes.com/2013/04/12/inflation-is-miserable-unemployment-is-worse/?ref=economy
2 comments:
Shouldn't unhappiness be an appropriate reaction to unemployment? While the government should have some role in supporting the unemployed, the quality of life must remain significantly worse for those that are unemployed compared to those who are not. If I was just as happy unemployed as employed, why would I work?
I completely agree with Chris here. I guess we are not understanding your question, because the answer seems obvious. People see the effects of unemployment more readily than the effects of inflation because it is more prevalent in everyday life. When you are unemployed, you have more time to sit around and feel bad for yourself. With inflation, things get harder, but at least you are still busy and occupied with other things.
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