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Pelaxed: Difference between revisions
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Despite mild economic recovery in the 2000s, conspicuous consumption of the 1980s has not returned to the same pre-crash levels. Pelaxian firms such as Saddlebred, Leopardo, Trotter, [[MILCAR]] and PELMAR which had dominated their respective industries from the 1960s to the 1990s, had to fend off strong competition from rival firms based in other Sarpedonian countries, particularly Cartadania, and Aciria, since the 2000s. In 1989, of the world's top 50 companies by market capitalization, 10 were Pelaxian; by 2018, only one such company remains in the top 50. Many Pelaxian companies replaced a large part of their workforce with temporary workers, who had little job security and fewer benefits. As of 2009, these non-traditional employees made up more than a third of the labor force. For the wider Pelaxian workforce, wages have stagnated. From their peak in 1990, real wages have since fallen around 33%, an unprecedented number among developed nations. | Despite mild economic recovery in the 2000s, conspicuous consumption of the 1980s has not returned to the same pre-crash levels. Pelaxian firms such as Saddlebred, Leopardo, Trotter, [[MILCAR]] and PELMAR which had dominated their respective industries from the 1960s to the 1990s, had to fend off strong competition from rival firms based in other Sarpedonian countries, particularly Cartadania, and Aciria, since the 2000s. In 1989, of the world's top 50 companies by market capitalization, 10 were Pelaxian; by 2018, only one such company remains in the top 50. Many Pelaxian companies replaced a large part of their workforce with temporary workers, who had little job security and fewer benefits. As of 2009, these non-traditional employees made up more than a third of the labor force. For the wider Pelaxian workforce, wages have stagnated. From their peak in 1990, real wages have since fallen around 33%, an unprecedented number among developed nations. | ||
Surveys by the Ministry of Labour showed that household income in 2010 had fallen to 1987 levels, while, the aggregate sales of all companies in Pelaxia decreased by 3.9% in 2010 compared to 2000 | Surveys by the Ministry of Labour showed that household income in 2010 had fallen to 1987 levels, while, the aggregate sales of all companies in Pelaxia decreased by 3.9% in 2010 compared to 2000. The wider economy of Pelaxia is still recovering from the impact of the 1996 crash and subsequent lost decades. It took 19 years for Pelaxia's GDP to recover to the same levels as 1996. And as a greater sign of economic malaise, Pelaxia also fell behind in output per capita. | ||
===Social Effects=== | ===Social Effects=== | ||