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In economics, inflation is an increase in the general price level of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money. The opposite of inflation is deflation, a decrease in the general price level of goods and services. The common measure of inflation is the inflation rate, the annualized percentage change in a general price index. As prices faced by households do not all increase at the same rate, the consumer price index (CPI) is often used for this purpose. The employment cost index is also used for wages in the United States.
The Phillips curve is an economic model, named after William Phillips, that predicts a correlation between reduction in unemployment and increased rates of wage rises within an economy. While Phillips himself did not state a linked relationship between employment and inflation, this was a trivial deduction from his statistical findings. Paul Samuelson and Robert Solow made the connection explicit and subsequently Milton Friedman and Edmund Phelps put the theoretical structure in place.
The cedi is the unit of currency of Ghana. It is the fourth historical and only current legal tender in the Republic of Ghana. One cedi is divided into one hundred pesewas (Gp).
In photography, reversal film or slide film is a type of photographic film that produces a positive image on a transparent base. Instead of negatives and prints, reversal film is processed to produce transparencies or diapositives. Reversal film is produced in various sizes, from 35 mm to roll film to 8×10 inch sheet film.
Incomes policies in economics are economy-wide wage and price controls, most commonly instituted as a response to inflation, and usually seeking to establish wages and prices below free market level.
Ys VI: The Ark of Napishtim is a 2003 action role-playing game developed by Nihon Falcom. It was first released for Windows before being ported to the PlayStation 2 in 2005 and by Konami for the PlayStation Portable in 2006. It was the first English release of the series since Ys III: Wanderers from Ys, and the first to make it to Europe since the Master System version of Ys I: Ancient Ys Vanished, the European version also being the first game in the series to be localized to western languages other than English. An English localization of the Windows version was released by Xseed Games in 2015. Ys VI was used as a base for Ys VI Mobile, a free-to-play MMORPG that released in Japan in 2021 and worldwide in 2022.
Price controls are restrictions set in place and enforced by governments, on the prices that can be charged for goods and services in a market. The intent behind implementing such controls can stem from the desire to maintain affordability of goods even during shortages, and to slow inflation, or, alternatively, to ensure a minimum income for providers of certain goods or to try to achieve a living wage. There are two primary forms of price control: a price ceiling, the maximum price that can be charged; and a price floor, the minimum price that can be charged. A well-known example of a price ceiling is rent control, which limits the increases that a landlord is permitted by government to charge for rent. A widely used price floor is minimum wage. Historically, price controls have often been imposed as part of a larger incomes policy package also employing wage controls and other regulatory elements.
The Renault Estafette is a light commercial front-wheel drive van, first introduced in 1959 and made by the French automaker Renault between 1959 and 1980, initially using the water-cooled Renault Ventoux engine, then later the Cléon-Fonte engine in a range of body styles. It was replaced by the Renault Trafic.
The Italian General Confederation of Labour is a national trade union centre in Italy. It was formed by agreement between socialists, communists, and Christian democrats in the "Pact of Rome" of June 1944. In 1950, socialists and Christian democrats split forming UIL and CISL, and since then the CGIL has been influenced by the Italian Communist Party (PCI) and until recent years by its political heirs: the Democratic Party of the Left (PDS), the Democrats of the Left (DS) and currently the Democratic Party (PD).
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A job guarantee is an economic policy proposal that aims to provide a sustainable solution to inflation and unemployment. Its aim is to create full employment and price stability by having the state promise to hire unemployed workers as an employer of last resort (ELR).
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The Legislature IX of Italy was the 9th legislature of the Italian Republic, and lasted from 12 July 1983 until 1 July 1987. Its composition was the one resulting from the general election of 26 and 27 June 1983. The election was called by President Sandro Pertini one year before the previous legislature's natural end on 5 May 1983, after a crisis in the incumbent government majority (Pentapartito).
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Bruno Trentin was an Italian trade unionist and politician, General Secretary of Italian General Confederation of Labour from 1988 to 1994.
Germany's minimum wage is €12 per hour, pre-tax since 1 October 2022. The legislation was introduced on January 1, 2015, by Angela Merkel's third government, a coalition between the SPD and the CDU. The implementation of a minimum wage was the SPD's main request during the coalition's negotiations as its central electoral promise during the 2013 federal election campaign. Previously, Germany had minimum wages only in specific sectors, negotiated by trade unions, and some were below the minimum wage level introduced in 2015.
Hyperinflation in Venezuela is the currency instability in Venezuela that began in 2016 during the country's ongoing socioeconomic and political crisis. Venezuela began experiencing continuous and uninterrupted inflation in 1983, with double-digit annual inflation rates. Inflation rates became the highest in the world by 2014 under Nicolás Maduro, and continued to increase in the following years, with inflation exceeding 1,000,000% by 2018. In comparison to previous hyperinflationary episodes, the ongoing hyperinflation crisis is more severe than those of Argentina, Bolivia, Brazil, Nicaragua, and Peru in the 1980s and 1990s, and that of Zimbabwe in the late-2000s.
The American Rescue Plan Act of 2021, also called the COVID-19 Stimulus Package or American Rescue Plan, is a US$1.9 trillion economic stimulus bill passed by the 117th United States Congress and signed into law by President Joe Biden on March 11, 2021, to speed up the country's recovery from the economic and health effects of the COVID-19 pandemic and the ongoing recession. First proposed on January 14, 2021, the package builds upon many of the measures in the CARES Act from March 2020 and in the Consolidated Appropriations Act, 2021, from December.
References
- ↑ Trent’anni fa veniva abolita la “scala mobile”. Breve storia di una grande conquista operaia, 25 August 2022 A history of the "scala mobile", in Italian
- ↑ Politico June 21, 2022 "Commission staff get pay raise — against its own advice"
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