ECONOMICA

  Germany is one of the largest exporters globally with $1810.93 billion worth of goods and services exported in 2019. But just like every economy, Germany’s economy vicissitudes more than any other economy to date. Inflation is particularly worrisome in Germany, where purchasing power has evaporated several times over the last century. There are several reasons behind one being the tragic World Wars. Germans did not only face inflation in the 1900s but hyperinflation. The last German Emperor Wilhelm II decided to fund the war by borrowing. (debt) This move proved to be one of the greatest mistakes of all times by modern economists. In 1923, banknotes had lost so much value that they were used as wallpaper. Purchasing power in Germany had evaporated, leading to hyperinflation, and losing WWI led to the mass exit of the workers class on a daily basis. With consumer prices rising every day, workers would collect their wages and rush to go spend it before their money lost even more va

If the news hasn’t reached you yet, and for that to happen you must be living under a rock, Covid has made its unwelcomed come-back. Covid-19 was labelled a pandemic by the World Health Organization (WHO) on March 11, 2020, citing approximately 3 million diagnoses and 207,973 deaths in 213 nations and territories. The new Covid-19 variant, Omicron, is set to unleash yet another slew of limitations and make economies sweat by hindering the already sluggish recovery. The financial conditions of some families have deteriorated to the point where even well-off families have been forced to flee their homes while others have prospered as if gold mines had been discovered. This can be attributed to what we call economic mobility. Precisely, an individual’s, families, or other group’s ability to better or worsen their economic standing is called economic mobility. It is accessed in the terms of their respective incomes. In contemporary society, people are classified into certain “classes”