¶ Inflation
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Index Entry
Inflation:
“Inflation means more people being supported at highest standards of living by the same amount of resources. The same inventory of physical resources as those of 1900 is now in 1973 supporting many times as many humans at far higher standards of living than that of any 1900 monarch. ‘Inflation’ is a consequence of completely inadequate economic accounting of evolutionary events. It accounts only the fact that humans are ignorant, and that selfishness and fear prevail.”
¶ Citations
- RBF Ltr. to James Coley, Sep’73
