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Stories during stagflation: How does India fare with a ‘modified’ misery index?

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Poverty is highest in countries known for their poor economic management: Turkey, Argentina, South Africa. Next come Russia, Brazil, Pakistan and Egypt. And then India, notes TN Ninan

Topics
Ruminations of the weekend | TN Ninan | Stagflation


In the 1970s, macroeconomic management in advanced economies faced a new challenge. Inflation and unemployment, instead of moving in opposite directions through the ups and downs of the business cycle, have moved in the same direction. The high unemployment rate reflected slow economic growth or stagnation. The combined term coined to describe this phenomenon was stagflation. That word is back in fashion now, after half a century, as economies face the simultaneous prospect of low to zero growth and high inflation.


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First published: Friday, June 10, 2022. 6:40 p.m. IST