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Volume I: July 2021


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STAGFLATION: ENEMY OF THE PAST OR WORRY OF THE PRESENT?

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By Ritika Yachna, Kalindi College As the time to say goodbye to 2021 is nearing, traders are saying hello to the anxiety of dealing with ‘stagflation’. A word that hasn’t been heard since the late 70s, an enemy that the world had long forgotten, is making a comeback. A massive increase in energy prices across the world, crimps in the supply chains, and rising unemployment has made the matters worse. ‘ Stagflation ’, a portmanteau of two words, ‘stagnation’ and ‘inflation’ refers to a sluggish economic period of low growth and increased inflation. Stagflation was first experienced in the United States in 1971 when President Richard Nixon made a major decision to take the US off the gold standard. This decision coaxed the decline of the dollar against other currencies, escalating the domestic inflation rate. The authorities went on to impose both wage and price control which contributed to the increasing spiral of tension. In 1973, the Arab members in OPEC seized the oil supply to the co...
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AFTER 52 YEARS, UNEMPLOYMENT CLAIMS AT ITS LOWEST

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By Palak Mehta, Kalindi College To be precise, this is the record-breaking year in the history of the United States of America in terms of unemployment. After more than 52 years, the residents claiming unemployment or redundancy benefits have shrunk drastically. According to the U.S. Department of Labour on Thursday, the unemployment claims dropped by 43,000 making the figure 184,000 last week which is the lowest since September 1969. This is a sign of progress in labour markets in these times of pandemics. There was a decrease of 43,000 claims from the previous week, consistent with the govt agency, and below the 215,000 that had been expected during a Refinitiv poll of economists. Economists have cautioned that the data on claims is subject to seasonal fluctuations over the vacation period which will distort weekly readings. Ian Shepherdson, an economist at Pantheon Macroeconomics said “A correction next week seems likely, but the trend in claims clearly is falling rapidly, reflectin...
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HAS THE PANDEMIC CHANGED OUR MONEY PSYCHOLOGY?

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By Nandita Rai, Kalindi College The world of behavioural economics studies how humans function around the commodity we so fervently call " money" . The idea behind this fast emerging field remains that human beings in fact are not spreadsheets and neither do our decisions come from formulas. Another recent discovery supporting this belief has suggested that even though the pandemic might be coming to an end we are very likely to be hit by a tsunami soon, the tsunami of wants . Wants that have increased after a year of no festivals and no outings and are more likely to increase as the deadly virus is believed to be in its final stages and as the ‘ no you can’t ” slowly transform into ‘ yes you can ’ with more than 70 percent of adults having at least one dose of the vaccine in India itself. This has led to numerous studies being conducted regarding the sudden urge that many of us are feeling to overspend, irrespective of our disposable income levels. As the next normal continu...
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