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Pelaxed: Difference between revisions
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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 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 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 1970. 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 Commons of the gravity of the situation. | 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 1970. 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 Commons 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. | ||
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==Supply Shock== | ==Supply Shock== | ||
[[File:Cars waiting for gas in 1974.jpg|thumb|Cars waiting for gas in Albalitor in 1971|296x296px]] | [[File:Cars waiting for gas in 1974.jpg|thumb|Cars waiting for gas in Albalitor in 1971|296x296px]] | ||
After the Second Great War Pelaxia’s [[Continental Obligations]] had shifted towards [[Aciria]], who became a strategic economic partner in regards to fossil fuels. Aciria's ability to claim imperium came with the defeat of [[Caphiria]] during the [[Second Great War]], a defeat that the [[Levantia and Odoneru Treaty Association]] (LOTA) carefully crafted within the media as a primarily Acirian effort despite the plurality of resources coming from Levantia. Having defeated Caphiria allowed Aciria to credibly claim its mantle of imperium, a mantle recognized by the other LOTA-aligned nations on [[Sarpedon]], [[Pelaxia]], [[Cartadania]], and [[Volonia]]. Aciria accepted its first Continental Obligation from Volonia on March 18, 1944, a date which is generally accepted as the beginning of the [[Western Imperium]]. | See also: [[Western Imperium]] | ||
[[Continental Obligations]] | |||
After the Second Great War Pelaxia’s [[Continental Obligations]] had shifted towards [[Aciria]], who became a strategic economic partner in regards to fossil fuels. Aciria's ability to claim imperium came with the defeat of [[Caphiria]] during the [[Second Great War]], a defeat that the [[Levantia and Odoneru Treaty Association]] (LOTA) carefully crafted within the media as a primarily Acirian effort despite the plurality of resources coming from [[Levantia]]. Having defeated Caphiria allowed Aciria to credibly claim its mantle of imperium, a mantle recognized by the other LOTA-aligned nations on [[Sarpedon]], [[Pelaxia]], [[Cartadania]], and [[Volonia]]. Aciria accepted its first Continental Obligation from Volonia on March 18, 1944, a date which is generally accepted as the beginning of the [[Western Imperium]]. | |||
Its status continued until 1970, when both Pelaxia and Volonia switched their recognition back to Caphiria and established the Continental Diplomatic Arrangement Organization, departing LOTA. That resulted in Aciria cutting production of oil and placing an embargo on oil exports to Pelaxia. | Its status continued until 1970, when both Pelaxia and Volonia switched their recognition back to Caphiria and established the Continental Diplomatic Arrangement Organization, departing LOTA. That resulted in Aciria cutting production of oil and placing an embargo on oil exports to Pelaxia. | ||