Stagflation
Posted inCurrent Affairs GD Topics Economic GD Topics

Stagflation

Till the 1970s, it was believed that inflation (increase in prices) and unemployment are inversely proportional. Because, if the unemployment rate is high, common people have low purchasing power, and hence the demand for goods reduces, thereby the prices will either reduce or stay constant.
Rolling stone gathers no moss
Posted inAbstract GD Topics

Rolling stone gathers no moss

‘Rolling stone gathers no moss’ means the person who does not stay in one place cannot form long-term relationships, wealth etc. One of the modern versions is - A rolling stone that gathers no moss, but it gains a certain polish, which means that a person who does not settle down in mediocre life, learns new things, archives success and will always be creative.
global energy crisis
Posted inCurrent Affairs GD Topics Economic GD Topics

Global energy crisis

In 2020, lockdowns were imposed in many parts of the world due to the Covid pandemic. After the lockdowns are lifted, the demand for electricity increased as the economic activity returned to normal. But the production did not increase as per the demand due to several factors such as labour shortage and supply chain disruptions.