dollars. In 2008, their rate of inflation hit 500 billion percent, and soon after, Zimbabwe

2008年 辛巴威通膨率飆到百分之5千億

abandoned their currency. So, how did it get so bad, and what exactly is inflation?

之後政府便宣布棄用辛幣 為何通膨會如此嚴重？ 而到底什麼是通膨呢？

Well, often inflation is described as “too much money chasing too few goods”. What

通膨通常指的是「過多的貨幣僅能換得極少的商品」

this means, is, if there’s too much physical currency floating around in the economy, then

也就是說 若過多實體貨幣在市場上流動

the money’s worth is diluted. Inflation and DEflation, are tightly regulated by the

價值便會被稀釋 政府密切管控著通膨與通縮

government. And if they weren’t, unchecked inflation of currency could lead to market

若未控管得宜 通膨失控便會造成市場混亂

chaos. In severe cases, a person’s life savings could become essentially worthless.

嚴重的話 百姓的畢生積蓄便會淪為廢紙

There are many variable factors that play into inflation. One, is the confidence that

造成通膨的因素有很多 其一是民眾對貨幣的信心

users have in their currency. Ever since the gold standard was abandoned, money stopped

自從廢除金本位後

having real worth, based on precious metals. So, modern currency only has value because

貨幣的實際價值不再由貴金屬數量決定

the government, and its citizens say it does, and they believe in it. However, when the

因此現代貨幣的價值 取決於政府與人民對貨幣的態度與信心

guarantee of that money’s value by the government is threatened by something drastic, like war,

不過 由於貨幣價值是由政府擔保

it loses some intrinsic value.

一旦遭遇到像戰爭般重大事故 貨幣便會喪失一部分價值

Another factor that affects the value of money is defined by the ratio of buying and producing

另一個影響因素 則是購買與生產的比率

in the economy -- or “supply and demand”. In a year, let’s say, if everyone bought

也就是「供應與需求」 舉例來說

the exact amount of goods and services which were produced, this ratio would be 1 to 1,

若一年內商品與服務 購買與生產的數量相等 比率便是1:1

and there would be NO inflation or deflation of prices. HOWEVER - if more or less goods

便不會發生通膨或通縮 但若供給過多或過少

are produced than normal, or, more or less people want to buy them, prices can fluctuate.

或需求過多或過少 價格便會波動

The Federal Reserve keeps watch of inflation patterns, via long-term “price indexes”

美國聯邦儲備委員會密切關注通膨走向 觀察的是長期「價格指數」

or the change in inflation rates for various categories of products. The “CPI” or Consumer

或是不同產品類別的通膨率變化

Price Index, and the “PPI”, or Producer Price Index, are two commonly used measurements.

兩大測量指標是 消費者物價指數（CPI）與生產者物價指數（PPI）

One looks at how much consumers are paying for products, and the other looks at the prices

CPI指的是消費者花多少錢買商品

listed by the producer.

PPI則是生產者所羅列出的物價資訊

Without government regulation, an imbalance in a market’s supply and demand can be exacerbated

若無政府控管 市場供需失調便因民眾失去信心而更趨惡化

by a lack of public confidence in the currency. When that happens, “hyperinflation” or

如此一來 便會發生「惡性通膨」與「惡性通縮」

“hyperdeflation” may occur - and normal items can wind up costing either a fraction,

一般商品價格因此暴跌或暴升幾百倍

or several hundred times what they normally do. For instance, when Germany was struggling

舉例來說 1923年時德國疲於應付一戰債務

to pay its World War 1 debts in 1923, their currency lost investor confidence, and went

投資者失去信心 德國馬克便「惡性通膨」

into hyperinflation. According to reports back then, a simple newspaper cost a wheelbarrow

根據當時報告 一份報紙要花一輛裝滿手推車的馬克才能買到

full of German Marks.

For Zimbabwe, the worst of their hyperinflation woes are past. But even presently, many continue

雖然辛巴威「惡性通膨」最糟時期已然過去 但即使在今日

to improvise their currency, by giving change in things like: pens, candy, and bubble gum.

許多人還是以物易物 將鉛筆、糖果、口香糖充當零錢

Soon, hopefully, Zimbabwe’s currency will stabilize, and people can continue to grow

希望辛巴威貨幣很快能趨於平穩

the market economy with an effective system of money.

靠著有效的貨幣系統 經濟能夠再次起飛

If you’re interested in learning more about Zimbabwe and the situation there, check out

若你對辛巴威與當地情況有興趣 請看這部影片

our video about the racial struggles between black and white farmers. Thanks for joining

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us on TestTube News, please subscribe so you don’t miss any of our upcoming videos!

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