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Pelaxed: Difference between revisions
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See also: [[Economy of Pelaxia]] | See also: [[Economy of Pelaxia]] | ||
[[File:Per Denti.jpeg|thumb|Per Denti coined the term "Pelaxed" as a young representative at Parliament]] | |||
In economics, ''pelaxed'' or ''pelaxation'' is a situation in which the [[Human Development Index]] of a nation is very high or increasing, while the economic growth rate slows and the [https://en.wikipedia.org/wiki/Gross%20domestic%20product GPD] per capita remains at a medium/developed level. It presents a social dilemma for economic policy, since actions intended to increase the growth rate may decrease the IHDI. | In economics, ''pelaxed'' or ''pelaxation'' is a situation in which the [[Human Development Index]] of a nation is very high or increasing, while the economic growth rate slows and the [https://en.wikipedia.org/wiki/Gross%20domestic%20product GPD] per capita remains at a medium/developed level. It presents a social dilemma for economic policy, since actions intended to increase the growth rate may decrease the IHDI. | ||
The term, a portmanteau of stagnation and [[Pelaxia]], is generally attributed to economist Per Denti, a [[Pelaxian Democratic Party]] politician who became Finance Minister in | The term, a portmanteau of stagnation and [[Pelaxia]], is generally attributed to economist Per Denti, a [[Pelaxian Democratic Party]] politician who became Finance Minister in 1973. Denti used the word in a 1965 speech to The Regia during the height of the Pelaxian Welfare State system and increasing rate of inflation and stagnation. Warning the House of Deputies of the gravity of the situation. | ||
The term has been reinvigorated in the last two decades following the [[Pelaxian Revolution]] and its transition into a market socialist economy to refer to the current economic situation of the Federal Republic of Pelaxia, which currently maintains a very high HDI, while also having one of the lowest GPDPC in the developed world. | The term has been reinvigorated in the last two decades following the [[Pelaxian Revolution]] and its transition into a market socialist economy to refer to the current economic situation of the Federal Republic of Pelaxia, which currently maintains a very high HDI, while also having one of the lowest GPDPC in the developed world. | ||