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Stagflation is now a reality for Thailand
News, Chartchai Parasuk, Published on 19/12/2019
» I first encountered this word, a combination of "stagnation" and "inflation", in an economics textbook. Stagflation depicts an unusual situation whereby an economy experiences both a slowdown and high inflation at the same time. A textbook example is the US economy of the early 1970s, which suffered 9% unemployment along with 12% inflation. The culprit was a doubling of world oil prices which pushed the US economy into a recession and raised the cost of goods and services.
Take economic data with a grain of salt
News, Chartchai Parasuk, Published on 07/11/2019
» Originally, I planned to write an article titled "Albert Einstein and baht exchange rate". Then I said to myself, "Nope, let's not write another serious article this week". So, I decided to go for a lighter one about international rankings and ratings which the government often cites to reiterate that the Thai economy is in good shape. I never have understood why governments like to do this. Nobody cares about these figures. They care about their businesses, their jobs and their debts.