Last year ended an "annus horribilis" for many countries, according to a new economic ranking, with Venezuela once again topping the list as the most miserable place on Earth.
War, social upheaval and poor economic conditions are the most common characteristics of the countries listed at the top of the Cato Institute's Misery Index. Compiled by Johns Hopkins University economist Steve Hanke, the list functions as a travel guide through some of the most dysfunctional places in the global economy.
The index bases its findings on four key data points: Unemployment levels, interest rates, consumer prices and economic growth.
"You have three things that make you miserable and subtract something that makes you less miserable," which is economic growth, Hanke explained to CNBC.