Rhys Hagan's Blog - Posts Tagged "writing-inspiration"
Writing Inspiration: The Economy Hates Us
In 1958, New Zealand economist, Bill Phillips, created what we now call the Phillips Curve. It's gone through plenty of changes over the years to factor in more economic nuances, however, the principle has stayed the same.
The Phillips Curve suggests that there is a correlation between the unemployment rate and inflation. So, what does that mean? It means that if everyone of working age within a society had a job (zero unemployment), inflation would be through the roof and prices would go out of control. Conversely, if there was no inflation, there would have to be a significant portion of working age people who are unemployed.
If everyone has a job, the economy collapses.
The unemployment rate generally sits around 4 - 5%. That means between 1 in 20 to 1 in 25 people need to remain jobless otherwise this house of cards blows down. Now, I know not everyone in a society is interested in working, but why should they be when the odds are stacked against them?
I feel like this is something that isn't talked about a lot and it makes me want to write about it. Would be tricky to fit into a work of fiction, though. Maybe it would make a good twist on the legal/courtroom drama. An economic drama? A politician who came from poverty who attempts to change the economic system to something more egalitarian?
I don't know, you tell me. Would you read a book about something so obscure and nuanced?
The Phillips Curve suggests that there is a correlation between the unemployment rate and inflation. So, what does that mean? It means that if everyone of working age within a society had a job (zero unemployment), inflation would be through the roof and prices would go out of control. Conversely, if there was no inflation, there would have to be a significant portion of working age people who are unemployed.
In short, to ensure the economy remains stable, the government must make sure a certain number of people don't have a job.
If everyone has a job, the economy collapses.
The unemployment rate generally sits around 4 - 5%. That means between 1 in 20 to 1 in 25 people need to remain jobless otherwise this house of cards blows down. Now, I know not everyone in a society is interested in working, but why should they be when the odds are stacked against them?
I feel like this is something that isn't talked about a lot and it makes me want to write about it. Would be tricky to fit into a work of fiction, though. Maybe it would make a good twist on the legal/courtroom drama. An economic drama? A politician who came from poverty who attempts to change the economic system to something more egalitarian?
I don't know, you tell me. Would you read a book about something so obscure and nuanced?
