scholarly journals Shortageflation 3.0: War economy – State socialism – Pandemic crisis

2021 ◽  
Vol 71 (S1) ◽  
pp. 13-34
Keyword(s):  
Budget Deficit ◽  
Inflation Rate ◽  
Significant Rise ◽  
Point Of View ◽  
Standard Of Living ◽  
Simultaneous Occurrence ◽  
State Socialism ◽  
Price Inflation ◽  
War Economy ◽  
Production Capacities

Abstract The crisis caused by the coronavirus pandemic has prompted governments and central banks to take unorthodox measures aimed at protecting the standard of living of people and sustaining the production and service activities of companies. The policy of aggressively increasing the supply of money has entailed a significant rise in the budget deficit and public debt. It is important to consider the extent of its impact on the escalation of inflation processes and to formulate suggestions regarding the economic policy. Inflation is already higher than the official indicators show it, because it is partly suppressed. The increase in the general price level does not fully reflect the actual inflation rate. We are dealing with shortageflation – the simultaneous occurrence of price inflation and repressed inflation accompanied by shortages. It is methodologically interesting to compare this current phenomenon, 3.0, with the suppression of inflation in the war economy, 1.0, and in the economies of state socialism, 2.0. Such comparisons highlight not only the similarities of these processes but also the differences resulting from the specificity of responses of households and businesses. This paper discusses five channels of unloading excessive savings, indicating the most beneficial ones from the point of view of sustainable economic development in the post-pandemic future. It is particularly important to prompt the conversion of compulsory savings into voluntary savings, and at the same time, to stimulate the transformation of the inflationary monetary reserves into the effective demand expanding the use of existing production capacities and investments creating new capacities.

scholarly journals Shortageflation 3.0: War economy – State socialism – Pandemic crisis

2021 ◽  
Vol 2021 (3) ◽  
pp. 5-28
Author(s):  
Kolodko Grzegorz W. ◽  
Keyword(s):  
Budget Deficit ◽  
Inflation Rate ◽  
Price Level ◽  
Point Of View ◽  
Standard Of Living ◽  
Simultaneous Occurrence ◽  
State Socialism ◽  
Price Inflation ◽  
War Economy ◽  
Production Capacities

The crisis caused by the coronavirus pandemic has prompted governments and central banks to take unorthodox measures aimed at protecting the standard of living of people and sustaining the production and service activities of companies. The policy of aggressively rising the supply of money has entailed a significant increase in the budget deficit and public debt. It is important to consider the extent of its impact on the escalation of inflation processes and to formulate suggestions regarding the economic policy. Inflation is already higher than the official indicators show it, because it is partly suppressed. The increase in the general price level does not fully reflect the actual inflation rate. We are dealing with shortageflation – the simultaneous occurrence of price inflation and repressed inflation accompanied by shortages. It is methodologically interesting to compare this current phenomenon, 3.0, with the suppression of inflation in the war economy, 1.0, and in the economies of state socialism, 2.0. Such comparisons highlight not only the similarities of these processes but also differences resulting from the specificity of responses of households and businesses. This article discusses five channels of unloading excessive savings, indicating the most beneficial ones from the point of view of sustainable economic development in the post-pandemic future. It is particularly important to prompt the conversion of compulsory savings into voluntary savings and at the same time to stimulate the transformation of the inflationary monetary reserves into the effective demand expanding the use of existing production capacities and investments creating new capacities.

Shortageflation 3.0: War economy — state socialism—pandemic crisis

2021 ◽  
pp. 5-26
Author(s):  
G. W. Kolodko
Keyword(s):  
Budget Deficit ◽  
Inflation Rate ◽  
Price Level ◽  
Point Of View ◽  
Standard Of Living ◽  
Simultaneous Occurrence ◽  
State Socialism ◽  
Price Inflation ◽  
War Economy ◽  
Production Capacities

The crisis caused by the coronavirus pandemic has prompted governments and central banks to take unorthodox measures aimed at protecting the standard of living of people and sustaining the production and service activities of companies. The policy of aggressively rising the supply of money has entailed a significant increase in the budget deficit and public debt. It is important to consider the extent of its impact on the escalation of inflation processes and to formulate suggestions regarding the economic policy. Inflation is already higher than the official indicators show it, because it is partly suppressed. The increase in the general price level does not fully reflect the actual inflation rate. We are dealing with shortageflation — the simultaneous occurrence of price inflation and repressed inflation accompanied by shortages. It is methodologically interesting to compare this current phenomenon, 3.0, with the suppression of inflation in the war economy, 1.0, and in the economies of state socialism, 2.0. Such comparisons highlight not only the similarities of these processes but also the differences resulting from the specificity of responses of households and businesses. This article discusses five channels of unloading excessive savings, indicating the most beneficial ones from the point of view of sustainable economic development in the post-pandemic future. It is particularly important to prompt the conversion of compulsory savings into voluntary ones and at the same time to stimulate the transformation of inflationary monetary reserves into the effective demand expanding the use of existing production capacities and investments in creating new capacities.

scholarly journals Shortageflation 3.0. Gospodarka wojenna – państwowy socjalizm – kryzys pandemiczny

Ekonomista ◽  
2021 ◽  
Vol 5 ◽  
Author(s):  
GRZEGORZ KOŁODKO
Keyword(s):  
Point Of View ◽  
Budget Deficits ◽  
Market Demand ◽  
New Production ◽  
The Sustainable Development ◽  
War Economy ◽  
Goods And Services ◽  
Real Socialism ◽  
Specific Reactions ◽  
Production Capacities

The crisis caused by the pandemic has induced governments and central banks to undertake non-orthodox actions aimed at the protection of people’s living standards and the maintenance of production and service activities of enterprises. The policy of the aggressive rise in money supply has resulted in a considerable increase in budget deficits and foreign debts. In this context, it is important to seek an answer to the question how this can accelerate inflationary processes and to formulate proper suggestions addressed to economic policy. In fact, inflation now is higher than the official price indices because it is partly dampened. The rise in the general price level does not reflect fully the actual intensity of inflation. We have to do with a price and resource inflation, called shortageflation. Methodologically, it is interesting to compare this contemporary phenomenon (3.0) with inflation suppression in a war economy (1.0) and in the economies of real socialism (2.0). Such comparisons show some similarities of these processes but also significant differences due to the specific reactions of households and enterprises. The author discusses five channels of liquidating the excessive money resources and indicates the ways most advisable from the point of view of the sustainable development in the post-pandemic future. Especially important is to stimulate the transformation of a part of the inflationary money surplus into the market demand for goods and services which increases the utilization of the existing production potential and leads to investments which create new production capacities as well as the conversion of compulsory savings into voluntary savings.

D’une hétérotopie à l’autre où le vagabondage au féminin (Jean Echenoz, Un an)

2014 ◽  
pp. 156-163
Author(s):  
Simona Jişa
Keyword(s):  
Point Of View ◽  
Standard Of Living ◽  
Human Being ◽  
The South ◽  
Railway Stations ◽  
Spatial Point ◽  
Strong Feeling ◽  
Continuous Decrease ◽  
One Year ◽  
Jean Echenoz

Jean Echenoz’s text presents Victoria’s story who runs away from Paris, believing that she has killed her lover. Her straying (that embraces the form of a relative deterritorialization in a Deleuzian sense) lasts one year and it is built up geographically upon a descent (more or less symbolical) to the South of France and, after that, she comes back to Paris and encloses the spatial and textual curl. From a spatial point of view, she turns into a heterotopia (Foucault) every place where she is located, fact that reflects her incapability of constituting a personal, intimate space. The railway stations, the trains, the hotels, the improvised houses of those with no fixed abode are turning, according to Marc Augé’s terminology, into a « non-lieux » that excludes human being. Her vagrancy is characterized through a continuous flight from police and people and through a continuous decrease of her standard of living and dignity. It’s not about a quest of oneself, but about a loss of oneself. Urged by a strong feeling of culpability, her vagrancy is a self-punishment that comes to an end when the concerns of her problems disappear and she finds out that her lover is alive.

scholarly journals How Does the Budget Deficit Affect Inflation Rate – Evidence from Western Balkans Countries

2020 ◽  
Vol 9 (1) ◽  
pp. 01-10
Author(s):  
Esat Ali Durguti
Keyword(s):  
Time Series ◽  
Budget Deficit ◽  
Inflation Rate ◽  
Multivariate Time Series ◽  
Secondary Data ◽  
Western Balkans ◽  
Vector Error Correction ◽  
Explanatory Variables ◽  
Vector Error ◽  
Point Increase

The main purpose of this study is to investigate if determinants that we selected in our analysis have any effects on inflation rate in Western Balkans Countries[1] by using panel data for the period of 2001-2017, in yearly basis in total of 102 observation. The study used quantitative analysis approach and secondary data by applying the multivariate time series, respectively vector error correction model [VECM]. Multivariate time series was applied to investigate whether the budget deficit and other explanatory variable have any significant impact on inflation rate. The results from our analysis shows that three of four determinates that we used are significant on inflation rate. The model summaries statistics for inflation rate which shows that inflation rate has a moderate correlation with explanatory variables that we used in our model, that explanatory variables explain 45.5 percent of dependent variable and we can conclude that a model is a proper and fit. The results suggest that one percent point increase in budget deficit to GDP ratio is associated with about a 9.34 percent point increase in inflation rate.  The overall inference is that the ratios that we selected has a significant influence on the inflation rate in Western Balkans Countries.      [1] Western Balkans Countries: Albania, Bosnia & Hercegovina, Kosovo, Montenegro, North Macedonia and Serbia.

scholarly journals THE STATE AND PROGRESS OF OILSEEDS MARKET AND FOODS OF THEIR PROCESSING TRENDS ARE IN UKRAINE

2018 ◽  
Vol 20 (1(66)) ◽  
pp. 44-52 ◽  
Author(s):  
P.O ANTONYUK ◽  
V.M. LISYUK
Keyword(s):  
Structural Changes ◽  
Export Price ◽  
Processing Condition ◽  
World Market ◽  
Point Of View ◽  
Raw Material ◽  
Home Production ◽  
Yield Production ◽  
Production Capacities ◽  
Practical Recommendations

Topicality. Actuality of problem of oilseeds market and foods of their processing development increases inconnection with the necessity of maintenance of existent volumes and leading positions of Ukraine in the world market, and also increases of efficiency of functioning component the integrated market. Aim and tasks. The aim of the article is an estimation of existent oilseeds market and foods of their processing condition, development of practical recommendations, both on the height of production and sales volumes and to efficiency in the conditions of action of the free trading with European Union. Research results. A oilseed market and foods of their processing analysis is conducted from the point of view of volume and structure as oilseeds raw material so vegetable oil. Measures are offered on the improvement of structure at the market of vegetable oils, meaning the heightof stake of soy-bean and rape oil. These measures areaimed at limitation of export of oilseeds raw material, especially soy and rape, and also all types of cake. Therow of measures of the custom adjusting is offered with the purpose of increase of home production and export of products with a greater valueadded. Conclusions. Strategic directions of oilseeds market and foods of their processing development include measures on limitation of export of raw material and on the increase of export of products with a greater valueadded. Keywords: world export, crop rotation, profitability, middle export price, export profit yield, production capacities, unrefined oil, structural changes

An Overview of the Impact of Racial Hate and Its Manifestation of Homegrown Terrorism in America

2018 ◽  
pp. 29-56
Author(s):  
Benson G. Cooke
Keyword(s):  
Civil Rights ◽  
Significant Rise ◽  
Point Of View ◽  
Race Riots ◽  
Civil Rights Organizations ◽  
Racial Hatred ◽  
American President ◽  
Homegrown Terrorism ◽  
And Gender ◽  
Gender Groups

Since the 2008 election of the first African American President of the United States, Barack Obama, racial hatred has been on the rise. During the 2016 presidential election, right-wing extremist groups like the Ku Klux Klan and Ultra-Right groups have become more vocal resulting in civil rights organizations like the Southern Poverty Law Center reporting a significant rise in hate crimes and threats. Unfortunately, President Donald Trump helped to stoke the fears of these hate groups with his incendiary campaign rhetoric of hate mostly against immigrants. This chapter provides a historical overview of racial hate and its manifestation of homegrown terrorism in America. Additionally, this chapter examines how hatred and fear became the source of lynching and race riots in America from the 18th to the 21st century. Understanding the past and present history of hatred directed at racial, ethnic and gender groups can help to bring a factual and more truthful point of view that can help reduce the recurrence of homegrown terrorism.

An Overview of the Impact of Racial Hate and Its Manifestation of Homegrown Terrorism in America

2019 ◽  
pp. 203-222
Author(s):  
Benson G. Cooke
Keyword(s):  
Civil Rights ◽  
Significant Rise ◽  
Point Of View ◽  
Race Riots ◽  
Civil Rights Organizations ◽  
Racial Hatred ◽  
American President ◽  
Homegrown Terrorism ◽  
And Gender ◽  
Gender Groups

Since the 2008 election of the first African American President of the United States, Barack Obama, racial hatred has been on the rise. During the 2016 presidential election, right-wing extremist groups like the Ku Klux Klan and Ultra-Right groups have become more vocal resulting in civil rights organizations like the Southern Poverty Law Center reporting a significant rise in hate crimes and threats. Unfortunately, President Donald Trump helped to stoke the fears of these hate groups with his incendiary campaign rhetoric of hate mostly against immigrants. This chapter provides a historical overview of racial hate and its manifestation of homegrown terrorism in America. Additionally, this chapter examines how hatred and fear became the source of lynching and race riots in America from the 18th to the 21st century. Understanding the past and present history of hatred directed at racial, ethnic and gender groups can help to bring a factual and more truthful point of view that can help reduce the recurrence of homegrown terrorism.

scholarly journals Energy Complex of a Municipality on the Example of Luleå (Sweden)

2019 ◽  
Vol 140 ◽  
pp. 03005
Author(s):  
Alexander Stoyanov
Keyword(s):  
21St Century ◽  
Heat Supply ◽  
Point Of View ◽  
Production Cycle ◽  
Mutual Benefit ◽  
Energy Complex ◽  
Consumer Prices ◽  
Energy Economy ◽  
The Difference ◽  
Production Capacities

The following work focuses on the study of the energy complex in a particular country (Sweden) and in specific conditions (Luleå municipality in the first and second decades of the 21st century). The conclusions and results obtained during the work might be interesting from the point of view of applicability of practice in other countries, as an example of successful experience in implementing an effective fuel and energy complex, which allows each of the parties (producers and consumers) to derive the maximum mutual benefit. The main features of the energy economy of Sweden as a whole have also been considered, which may contribute to the deepening of research in this vein, in order to allow other municipalities to be considered, which in turn will make it possible to assess the efficiency and prospects of the fuel and energy complex in the country as a whole. The work also proposes and considers possible points of intensification of the production cycle in order to increase production capacities and improve the conditions for consumers who, due to the geographical features of the country’s location, are forced to spend large amounts of money on innovative technologies, illustrated in consumer prices for electricity and heat supply (especially other municipalities in Sweden, for example, the difference between Luleå and them in terms of consumer prices can reach 30-40%).

KAJIAN KRITIS EKONOMI SYARIAH DALAM MENELISIK KEBIJAKAN MONETER SEBAGAI UPAYA PENYELAMATAN PEREKONOMIAN DITENGAH PANDEMI COVID-19

2020 ◽  
Vol 1 (2) ◽  
pp. 80-97
Author(s):  
Rina Anggraini ◽  
Dhea Ananda Putri
Keyword(s):  
Monetary Policy ◽  
Global Economy ◽  
Inflation Rate ◽  
Point Of View ◽  
Literature Study ◽  
Economic Stability ◽  
Policy Makers ◽  
New Normal ◽  
The People ◽  
The Government

The Covid-19 pandemic has become a real enemy for all levels of society, both from the middle to upper and lower middle classes, because this pandemic does not only attack the health aspects but all aspects of life, both in terms of economy, religion to lifestyle so that with this condition the government implements the order. a new life called New Normal. The following article is a literature study on how monetary policy is in maintaining the Indonesian economy amid the Covid-19 pandemic and will be reviewed from a sharia perspective, and will see whether government policies are fair and not only benefit certain parties. The method used is to review several research results that have been published in journals that explain the Covid-19 Pandemic and the policies taken by the government. The findings of this study inform that monetary policy is indeed influential in suppressing the inflation rate and can achieve economic stability, and the more obvious thing is that the government and a set of policy makers have been very fast in responding to the impacts arising from the Covid-19 pandemic undermining the global economy with policy stimuli that have been drawn up to fight the pandemic. From the point of view of sharia, the policies taken by the government already have a very good goal, namely meeting the needs of the people is fair and mashlahah is the main goal, the policies carried out by the government are conceptual and seen from the sharia side it is very good and upholds the welfare of the people. Pandemi Covid-19 menjadi musuh nyata bagi seluruh lapisan masyarakat baik dari kalangan menengah ke atas maupun menengah kebawah, karena pandemic ini tidak hanya menyerang aspek kesehatan melainkan seluruh aspek kehidupan, baik dari segi ekonomi, religi hingga gaya hidup sehingga dengan keadaan ini pemerintah menerapkan tatanan kehidupan baru yang disebut New Normal. Tulisan berikut ini adalah studi literature tentang bagaimana kebijakan moneter dalam menjaga perekonomian Indonesia ditengah masa pandemic Covid-19 dan akan ditinjau berdasarkan perspektif syariah, serta akan melihat apakah kebijakan pemerintah sudah adil dan tidak hanya menguntungkan pihak tertentu. Metode yang digunakan adalah mengkaji beberapa hasil penelitian yang pernah dimuat pada jurnal-jurnal yang menjelaskan seputar Pandemi Covid-19 dan kebijakan-kebijakan yang diambil oleh pemerintah. Temuan penelitian ini menginformasikan bahwa kebijakan moneter memang berpengaruh dalam menekan laju inflasi dan dapat mencapai kestabilan perekonomian, dan hal yang lebih nyata pada saat ini pemerintah dan seperangkat pembuat kebijakannya sudah dengan sangat cepat dalam menanggapi dampak-dampak yang timbul akibat pandemic Covid-19 yang telah merusak perekonomian global dengan stimulus- stimulus kebijakan yang telah disusun demi melawan pandemic. Dari sudut pandang syariah, kebijakan yang diambil oleh pemerintah sudah memiliki tujuan yang sangat baik, yaitu pemenuhan kebutuhan rakyat sudah adil dan mashlahah menjadi tujuan utama, pada intinya kebijakan yang dilakukan pemerintah secara konseptual dan dilihat dari sisi syariah sudah sangat baik dan menjunjung tinggi kesejahteraan rakyat.

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