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But the recent downturn has delivered a severe dent to that self-image.
A 2001 study that looked at the "macroeconomics of happiness" found that higher inflation put a severe dent in how happy people reported themselves to be.
At the end of yesterday's race Eddie Irvine's credibility had suffered a severe dent within the Jaguar team after he threw his car off the road into the gravel trap at the first corner of the race.
The stand-off was omitted from McNamara's 37-man training squad last week, but sparkled for his club here, as Saints maintained their hopes of finishing second and put a severe dent in Wakefield's own top‑eight ambitions.
Amla, the final straw clutched, has contributed but his failure to score a run in the recent match at Taunton was a severe dent to Surrey's hopes of survival.
For Michigan, a loss puts a severe dent not only in its national title chances but also hands the Big Ten a very painful loss to the nation's premier conference.
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It has also fostered renewed scrutiny of a supposedly elite government agency that has suffered several severe dents to its reputation in recent years.
Severe dents to confidence mean the post-referendum economy is on "a very different path" from three months ago, said the EY Item Club, a forecasting group that uses Treasury modelling.
Shoal grounding accidents always lead to severe denting, though not tearing, of the ship bottom structure, which may threaten the global hull girder resistance and result in even worse consequences, such as hull collapse.
In addition, a spate of natural disasters in the region, including devastating earthquakes in Japan and New Zealand and severe flooding in Australia, have dented Qantas's business.
As the incumbent prime minister, Ms Tymoshenko's rating has also been dented by Ukraine's severe economic crisis.Surprises cannot be ruled out: many voters are still undecided.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com