Post by CtraK on Jan 17, 2011 20:12:46 GMT -5
OK, so I'm researching another novel I'll never get round to writing and in doing so, I come across something that bothers me.
I'm setting the novel in the late era of this century. When is not critical to the story, but as the thread suggests, 2080 is a good enough time, assuming that capitalism hasn't folded by then. So we're about seventy years into the future, and there's money involved for a zany corporate scheme. Naturally, this means inflation.
I do my research, because I want to avoid ridiculous future inflation, and I find that, in the US, inflation tends to swing between 30% over a decade in certain times (like the 1990s) and 60% a decade over other times (like the 1980s). Some decades vary either side, like the 1950s and 1970s, so I assume it all averages out and calculate on this basis the price increases for 2080. It turns out that said price increase will be of the order of 11.7 times current.
Now this next bit bothers me. By this standard, a burger will cost close to, or actually, $50. And if it doesn't, ordering a Coke will push it over the top. The US government, in response to this, could either let it happen, phase out the now-worthless cents, or revalue the dollar. As far as I'm aware, there is no historical precedent for the latter two; so what would happen?
I'm setting the novel in the late era of this century. When is not critical to the story, but as the thread suggests, 2080 is a good enough time, assuming that capitalism hasn't folded by then. So we're about seventy years into the future, and there's money involved for a zany corporate scheme. Naturally, this means inflation.
I do my research, because I want to avoid ridiculous future inflation, and I find that, in the US, inflation tends to swing between 30% over a decade in certain times (like the 1990s) and 60% a decade over other times (like the 1980s). Some decades vary either side, like the 1950s and 1970s, so I assume it all averages out and calculate on this basis the price increases for 2080. It turns out that said price increase will be of the order of 11.7 times current.
Now this next bit bothers me. By this standard, a burger will cost close to, or actually, $50. And if it doesn't, ordering a Coke will push it over the top. The US government, in response to this, could either let it happen, phase out the now-worthless cents, or revalue the dollar. As far as I'm aware, there is no historical precedent for the latter two; so what would happen?
