The fire of inflation has raged through the world posing multifaceted threats to the social, economic, political and personal entities.
Inflation is more than incapacity of purchasing power. It can give rise to dictators like Hitler. It can also force a country into irrelevance like Venezuela. Since world battles record inflation, Palki Sharma of the WION focusses on the 4 ‘P’s:
The dictum is that economic debacle has power to change the direction of the history.
Throughout the weeks, the stocks are in downtrend, currencies are devaluing, fuels are being expensive, and prices of basic commodities are shooting up.
An ordinary connotation of the inflation does not help understand the situation. So, it should be interpreted in terms of the world order, reshaping power of democracies, authoritarian regimes and constitutional monarchies.
Today, the world is interconnected giving a room for free flow of economy.
Inflation affects 4 Ps: policies, politics, priorities and poverties.