Keynes vs. the Classics.
What cost $100.00 in 1836 would cost
$80.70 in 1902. Greater productivity, lower costs. Just what economics and commmon sense tell you to expect. But consider. What cost $100.00 in 1936 would cost
$1261.74 in 2002. That is, something which cost you $9 in 1936, would cost you
$113.56 in 2002. The Age of Keynes has been the age of massive, unbriddled and completely pointless inflation. And, if truth be told, a massive redistribution from wealth from one pocket to another. Has your pocket been picked?
Stats via The Inflation Calculator.
Posted by Greg Ransom
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