Substance abuse doesn’t discriminate against age, race demographics, gender, or socioeconomic status. All populations are at risk for addiction. Both genders have unique issues when it comes to addiction. Men typically have higher rates of alcohol, tobacco, or illicit substance dependence. They are more likely to use almost all types of illegal substances. But women are certainly not immune. Compared to men, women typically begin using drug at a younger age. Age – about 4% adolescents have a substance use disorder. The younger someone is when they begin using drugs, the more likely they are to develop addiction problems later in life. Race – the 2018 National Survey on Drug Use and Health breaks down the rates of substance use disorder by race: 4.8% of Asian Americans, 6.9% of Black or African American, 7.1% of Hispanic or Latinos, and 7.7% of Whites. Socioeconomic status also play a role in addiction. For example, young adults in wealthier families are the most likely to use alcohol and marijuana.
epending on the spread and severity of the inflation, the increase in prices make a debt worthless by comparison, under hyperinflation conditions, it’s virtually eliminated. Therefore, they find themselves able to pay back loans with ease and worthless money. Venezuela’s national debt had risen to approximately $156 billion in 2018 suggesting that they’d benefit from this immensely (MarketsInsider 2019). Similarly, those who are involved in the commodities export businesses are also at advantage. The decrease in value of a local currency results in cheaper exports in comparison to those of an exporter’s foreign competitors, at the same time, hard foreign currency is obtained (thebalance 2019) by the exporter.
Individuals who had however, lent money as opposed to loaned it, are likely to be most negatively impacted due to their money becoming worthless. Understandably, the negatives associated with inflation with regards to Venezuela considerably outweigh any benefits.
As of January 2020, Maduro initiated an increase in the national minimum wage. The minimum monthly salary earner is currently receiving 250,000 bolivars (£2.80) , a 67% increase from the previous minimum wage – 150,000 bolivars. Alongside this, he implemented a food bonus of 200,000 bolivars (Quartz 2020) – that goes for individuals who are actually employed. It was predicted that Venezuela’s unemployment rate would have reached 50% by this year..
Venezuela’s unemployment rate – referring to the segment of the labour force actively seeking and able to undergo employment, without work – was forecasted to be 44.337% during the December period of 2019. An almost 10% increase since the year prior illustrating the apparent negative impact inflation has on employment (CEIC 2019). In the short term, individuals are likely to supply labour despite the acceleration in inflation due to the higher wages.
According to the Phillips curve, inflation and unemployment maintain an inverse relationship meaning low levels of unemployment correspond to higher levels of inflation and high unemployment corresponds to lower levels of inflation – potentially deflation. Logically, this makes sense as high unemployment would p
