Economics
1. The officially reported inflation rate and consumer price index (CPI) in the United States since roughly 1990 are far lower than actual numbers. The writer should seek to find fault with the reported numbers and determine more realistic, and higher, numbers.
2. Wages during the same period of time have failed to keep pace with inflation and CPI. That is to say, any increase in wages is less than the corresponding increase in inflation and CPI.
For reference here are links to the inflation rate and CPI. Please feel free to use any reputable sources you see fit.
https://www.statista.com/statistics/191077/inflation-rate-in-the-usa-since-1990/
https://www.statista.com/statistics/190974/unadjusted-consumer-price-index-of-all-urban-consumers-in-the-us-since-1992/
The argument should have 3 sections:
1. A summary no longer than 2 paragraphs that can be understood by an intelligent person with little to no training in economics.
2. The body of the paper should be no longer than 4 pages single-spaced. This is the equivalent of 500 words per page for a total of about 2,00 words. This rule on length is not strict but only a general guideline. The writing level for the body of argument has no technical or academic restrictions. Whatever language is required to make a strong argument is the only guideline.
3. The final section is an estimation of the actual inflation rate and CPI. Like the body of the paper, this section has no technical or academic restrictions. This section should not exceed 1 page. Any mathematical formulae must be accompanied by a brief explanation.
There is no restriction on the length or complexity of any supporting documentation. For example, if data and/or calculations are done on Google Sheets, that is acceptable and expected.
The officially reported inflation rate over the last 30 years averages close to 2%. I do not have an expectation of what numbers the writer will argue, only that the argument is reasonable. If they find that the actual number is 4%, that is fine. Likewise, if it is 6% that is also fine. Just support the argument.
There is flexibility in the time period considered. If the writer can make a more convincing argument using a longer or shorter window of time then they should do so. If using 1980 to 2021 is better for the argument, then do so. If using 2000 to 2021 is better, then do so. However, do not go back further than 1960.
For context, this is NOT intended to be held to peer-reviewed standards. This is more of an intellectual exercise so the writer should feel free to exercise some intellectual freedom.
Please let me know what questions you have.
Date:
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From:
Sent: Thursday
To:
Subject: Research on US Inflation Rate and Wages
This task is an academic exercise. The goal is to write a paper arguing 2 points:
1. The officially reported inflation rate and consumer price index (CPI) in the United States since roughly 1990 are far lower than actual numbers. The writer should seek to find fault with the reported numbers and determine more realistic, and higher, numbers.
2. Wages during the same period of time have failed to keep pace with inflation and CPI. That is to say, any increase in wages is less than the corresponding increase in inflation and CPI.
For reference here are links to the inflation rate and CPI. Please feel free to use any reputable sources you see fit.
https://www.statista.com/statistics/191077/inflation-rate-in-the-usa-since-1990/
https://www.statista.com/statistics/190974/unadjusted-consumer-price-index-of-all-urban-consumers-in-the-us-since-1992/
The argument should have 3 sections:
1. A summary no longer than 2 paragraphs that can be understood by an intelligent person with little to no training in economics.
2. The body of the paper should be no longer than 4 pages single-spaced. This is the equivalent of 500 words per page for a total of about 2,00 words. This rule on length is not strict but only a general guideline. The writing level for the body of argument has no technical or academic restrictions. Whatever language is required to make a strong argument is the only guideline.
3. The final section is an estimation of the actual inflation rate and CPI. Like the body of the paper, this section has no technical or academic restrictions. This section should not exceed 1 page. Any mathematical formulae must be accompanied by a brief explanation.
There is no restriction on the length or complexity of any supporting documentation. For example, if data and/or calculations are done on Google Sheets, that is acceptable and expected.
The officially reported inflation rate over the last 30 years averages close to 2%. I do not have an expectation of what numbers the writer will argue, only that the argument is reasonable. If they find that the actual number is 4%, that is fine. Likewise, if it is 6% that is also fine. Just support the argument.
There is flexibility in the time period considered. If the writer can make a more convincing argument using a longer or shorter window of time then they should do so. If using 1980 to 2021 is better for the argument, then do so. If using 2000 to 2021 is better, then do so. However, do not go back further than 1960.
For context, this is NOT intended to be held to peer-reviewed standards. This is more of an intellectual exercise so the writer should feel free to exercise some intellectual freedom.
Please let me know what questions you have
