Inflation and Unemployment
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Do you have change for a billion? The mad world of Zimbabwe’s currency

Do you have change for a billion? The mad world of Zimbabwe’s currency | Inflation and Unemployment | Scoop.it
As Zimbabwe plans to reintroduce local currency there are fears of a return to hyperinflation.
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Venezuelans Give Up on Counting Piles of Cash and Start Weighing Them

Venezuelans Give Up on Counting Piles of Cash and Start Weighing Them | Inflation and Unemployment | Scoop.it
At a delicatessen counter in eastern Caracas, Humberto Gonzalez removes slices of salty white cheese from his scale and replaces them with a stack of bolivar notes handed over by his customer. The currency is so devalued and each purchase requires so many bills that instead of counting, he weighs them.
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What’s in the Basket of Goods? 80 years of shopping history | Visual.ONS

What’s in the Basket of Goods? 80 years of shopping history | Visual.ONS | Inflation and Unemployment | Scoop.it
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Inflation basket drops DVD recorders in latest revision - BBC News

Inflation basket drops DVD recorders in latest revision - BBC News | Inflation and Unemployment | Scoop.it
Changes in households' use of digital technology lie behind several of this year's changes to the basket of goods and services used to measure inflation.
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Russia raises interest rate to 17%

Russia raises interest rate to 17% | Inflation and Unemployment | Scoop.it

 BY The Russian central bank announces a huge rise in its key interest rate -from 10.5% to 17%- to try to stem the rouble's rapid fall in value.

Ben Christopher's insight:

Desperate attempt by Russia's central bank to attract hot flows of money and halt the rouble's decline in order to combat cost push inflationary pressure inside Russia.

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Zandy Barner's curator insight, November 16, 2015 4:44 PM

Rates of unemployment vary on a virtually constant basis. Sometimes, unemployment is low for a short period of time and is limited to one or a few industries. Other times, however, unemployment rates are chronically high and are found in many industries. This is often caused by a larger systemic problem, such as an economic recession or depression. Unemployment rates are only one measurement of economic health.

Menake

hulisani.'s curator insight, May 3, 9:56 AM
What would happen to South Africa if this was the case?
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5 Reasons to Worry About Deflation

5 Reasons to Worry About Deflation | Inflation and Unemployment | Scoop.it
David Wessel: Falling prices sound appealing to consumers, especially compared with the alternative of higher prices. But it's worth taking a moment to contemplate why deflation is such a bad thing.
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4 don harp's curator insight, March 10, 6:20 AM
Deflation is becoming a bigger problem in the United States. Due to the decrease in consumer price, key businesses' profit, and the current yield of government bonds. Which cause our national debt and any personal debt to increase substantially. This effects people with student loans more than anyone. 
hulisani.'s curator insight, May 3, 9:57 AM
This is just as dangerous as inflation...read more questions shall be asked in class.
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Believe what you want...

Believe what you want... | Inflation and Unemployment | Scoop.it
There's a joke about economists that goes something like this: A mathematician, an accountant and an economist apply for the same job. The interviewer calls in the mathematician and asks "What do t...
Ben Christopher's insight:

Great for evaluation on the inflation topic particularly the last part which refers to many contracts being tied to the RPI not CPI which renders the official inflation measurement less relevant - gold dust!

The year 13 student who wrote this was part of the 4 person team who won this year´s Target 2.0 Bank of England competition (Oundle School with Mo Tanweer in the wings!).

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Whatever happened to full employment?

Whatever happened to full employment? | Inflation and Unemployment | Scoop.it
Full employment used to be a much cherished political mantra. Why does it seem to have disappeared from public debate?
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Unemployment Statistics - what do they really show?

Unemployment Statistics - what do they really show? | Inflation and Unemployment | Scoop.it
Showing critical awareness of economic statistics is an important skill for all economists.A hat-tip to Fiona Quiddington for this article on youth unemployment from the Telegraph which analyses youth unemployment figures with a more critical eye.TEDx talk on solving Youth Unemployment:Latest UK Labour Market update from ONS:.
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Low inflation can be a disease not a cure

Low inflation can be a disease not a cure | Inflation and Unemployment | Scoop.it
Deflation seems unlikely – but even a low risk is worth losing sleep over, writes Tim Harford ‘UK consumer inflation has fallen below the Bank of England’s 2 per cent target for the first time in f...
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Play Jazz on Campus! | Adbusters Culturejammer Headquarters

Play Jazz on Campus! | Adbusters Culturejammer Headquarters | Inflation and Unemployment | Scoop.it
Ben Christopher's insight:

The demise of neo-classical economics

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Orthodox economists have failed their own market test

Orthodox economists have failed their own market test | Inflation and Unemployment | Scoop.it
Seumas Milne: Students are demanding alternatives to a free-market dogma with a disastrous record. That's something we all need
Ben Christopher's insight:

Keynes 1 -  Neo-classicists 0

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The spectre of stagflation looms over the economy. This time it’s scarier than ever

The spectre of stagflation looms over the economy. This time it’s scarier than ever | Inflation and Unemployment | Scoop.it
Forecasts of rising inflation and slowing wage rises in 2017 are only some of the reasons economists such as Adam Posen are gloomy about Britain’s future
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Calculating a Price Index and Rate of Inflation.

Calculating a Price Index and Rate of Inflation. | Inflation and Unemployment | Scoop.it
Calculating a "Market Basket" for purposes of creating a "Price Index" is tough for many students. I am going to try to make it as eas
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The fear and despair of Spain’s young jobseekers - FT.com

The fear and despair of Spain’s young jobseekers - FT.com | Inflation and Unemployment | Scoop.it
Spain’s economic crisis has millions of faces, but it is the young ones that stick in your memory. There was the 26-year-old nurse I met in Seville, firing off one job application after the other, always hoping that this one would finally come good.
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What do different nationalities spend their money on?

What do different nationalities spend their money on? | Inflation and Unemployment | Scoop.it
What you spend your disposable income on depends largely on where you are from, according to a new Eurostat report.
For Russians, the bulk of the monthly income goes on food, alcohol and ...
Ben Christopher's insight:

CPI's basket content differs in each country

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In The Balance Podcast- Inflation and Deflation Discussion

Ben Christopher's insight:

This comes from the BBC World Service Business Daily 'In The Balance' discussion programme, recorded at the 'Kilkenomics' event in Ireland- something worth reading about in it's own right (Economics and comedy in one!). The panel discuss, very clearly and with great insight, why countries are so desperate to avoid deflation but also to avoid high rates of inflation. This is exactly what AS Economics students need to understand, and it should lead to a clear appreciation of why we have a 2% inflation target here in the UK. Good references to the current global economic situation are made- particularly Argentina with inflation rates somewhere around 40% and the Eurozone flirting with deflation.

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Let’s say it very clearly: of the 239,000 new ‘jobs’ last quarter just 19,000 were full time employments

Let’s say it very clearly: of the 239,000 new ‘jobs’ last quarter just 19,000 were full time employments | Inflation and Unemployment | Scoop.it
The headline employment data today looks good. 239,000 new jobs.

However, self-employment accounted for 146,000 of the increase. But as I have shown, firstly no one really knows how many self employed people there are and secondly, they earned an average of £10,400 each in 2011-12, on a steadily falling trend....
Ben Christopher's insight:

Underemployment!

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Why long-term unemployment matters

Why long-term unemployment matters | Inflation and Unemployment | Scoop.it
‘Research shows that employers ignore people who have been out of work for more than six months’ “Quantity has a quality of its own.” Whether or not Stalin ever said this about the Red Army, it is ...
Ben Christopher's insight:

Good for evaluation this. The duration of unemployment really matters, problems of hysterisis (cyclical to structural). So if you're asked about the effects of a recession and one of your points is unemployment, then to evaluate you could talk about the depth of the recession counts, if short term - less of a problem as demand picks up, if long term - problems more significant as skills lost, outdated references/cv, drain on gov finances etc.

Remember good eval phrases 'the extent to which X is a problem, depends on...' or talk about the 'significance of an effect/impact/problem/benefit'

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ralphlopes's curator insight, December 1, 2015 1:15 PM

Interesting article, suggesting that maybe instead of the simple short term employment policies used by current governments fails to tackle a much more significant issue due to their short terms. Maybe governments should focus instead on more long term supply side policies?

4 don harp's curator insight, March 10, 6:30 AM

The article talks about the effect of long term unemployment in America. He says our unemployment rate may look good, but if the Beveridge and Phillips curve you see that our economy is not doing as well as it seems. His reason for long term unemployment is that once managers get a new job position they often reach out to someone who has recently worked for them.

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Phillips Curve - YouTube

More free lessons at: http://www.khanacademy.org/video?v=v7ZWTZ9NgU4 The observation that inflation and unemployment tend to be inversely correlated
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A Level Economists: Measuring Inflation - What you need to know at AS (Revision)

A Level Economists: Measuring Inflation - What you need to know at AS (Revision) | Inflation and Unemployment | Scoop.it
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Argentina's currency devaluation in one photo: a Galaxy S4 goes from $7,999 to $11,518 in 6 hours. - Imgur

Argentina's currency devaluation in one photo: a Galaxy S4 goes from $7,999 to $11,518 in 6 hours. - Imgur | Inflation and Unemployment | Scoop.it
Ben Christopher's insight:

Cost push (imported) inflation

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Too little inflation can be a problem too…

Too little inflation can be a problem too… | Inflation and Unemployment | Scoop.it
We’re very used to the idea of monitoring inflation, measuring it, and worrying about the consequences of it. But like any good answer that requires an element of balance, it’s worth noting that too little inflation can be a problem too..
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Leanne's curator insight, January 22, 2014 5:08 AM

Useful for Assignment 3/4 Business Environment BTEC Business Year 1

Assignment 1/2/3 Business and Econopmic Environment BTEC Business Year 2

 

Discussions on monetary policy and inflation

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A Keynes for all seasons

A Keynes for all seasons | Inflation and Unemployment | Scoop.it
IN THE years since the publication in 1936 of "The General Theory of Employment, Interest and Money", John Maynard Keynes’s name has been irretrievably linked to...
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