March 08, 2004

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 | TrackBack