Stagflation — The Death of the Middle Class in 2023
Created time
Mar 22, 2023 02:57 PM
Author
medium.com
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Book Name
Stagflation — The Death of the Middle Class in 2023
Modified
Last updated December 26, 2023
Summary
• Stagflation—The Death of the Middle Class in 2023 is a book that examines the economic crisis that is projected to cripple the middle-income class in the late 2020s.
• It suggests ways to mitigate economic hardship through ‘Structural Adjustment’, which requires governments to implement progressive fiscal and spending policies.
• It also emphasizes the need to ensure that economic gains are shared between classes, and that advantages are offered to the middle-income group.
• As a UX designer, this book provides valuable insights into user trends with respect to broad economic changes and how users may interact with companies amidst turbulent times.
• After reading Stagflation—The Death of the Middle Class in 2023, other books that may be of particular interest to UX designers include Economix: How Our Economy Works (and Doesn’t Work) by Michael Goodwin and Dan E. Burr, and The Real World of Economics by Wally Tkachuk.
✏️ Highlights
But don’t worry, there’s one key difference between the stagflation of the 70s and today — employment. Back then, unemployment rates were sky-high, but today they’re relatively low. So at least we won’t be lining up for bread anytime soon.
Well, inflation is like that annoying friend who always talks too much and eats all your snacks. Stagflation, on the other hand, is like that same friend who also breaks all your stuff and leaves you with a huge mess to clean up. It’s not pretty.
It took drastic measures from Fed Chairman Paul Volcker to finally end the stagflation nightmare.
But don’t worry, there’s one key difference between the stagflation of the 70s and today — employment. Back then, unemployment rates were sky-high, but today they’re relatively low. So at least we won’t be lining up for bread anytime soon.
Well, inflation is like that annoying friend who always talks too much and eats all your snacks. Stagflation, on the other hand, is like that same friend who also breaks all your stuff and leaves you with a huge mess to clean up. It’s not pretty.
It took drastic measures from Fed Chairman Paul Volcker to finally end the stagflation nightmare.
