Inflation and Economics Hyperinflation in Zimbabwe - 275 Words

Inflation and Economics: Hyperinflation in Zimbabwe (Movie Review Sample) Content: Inflation and EconomicsStudent's NameInstitutionHyperinflation in ZimbabweThe above videos shows the level of irresponsibility with which the central bank of Zimbabwe had handled the monetary policy of the country. The enormously high rate of inflation has meant that the poor people have virtually been driven to the extent of deprivation because of their inability to pay for even the basics necessitates such as food. The situation in Zimbabwe is indeed despicable and begs serious question on the policymaker's ability to handle the country's economic situation.Although I do agree that most of the societies that has lived in the past had had hyperinflation and that this situation is not a recent phenomenon. But it will not be right to draw parallels between what happened in Zimbabwe and previously recorded hyperinflation, the most famous being the hyperinflation in Hungry, which still remains, as the worst hyperinflation in history. In the case of Zimbabwe, it was the, no doubt, government's decision, under the leadership of Robert Mugabe, that farmlands owned by white be compulsorily be transferred to indigenous black individuals. As a consequence, the country suffered enormously and in a matter of years went from being exporter of agriculture to being importer of agriculture. Not only such a policy led to massive unemployment because of lack of know-how of farming by the local but it was one of the main reasons for the consistent increase in prices of eatables (Zimbabwe Phases out Local Currency at 35 Quadrillion to US$1, 2015).One of the important reasons for Africans leaders to be power corrupt, to my understanding, could be due to their greed to exploit the system to their advantage. Hence, by skilfully using the public resources for their own sake, the leaders are in a position to gather support from the all quart...