Inflation
One proof of the market is that economics is obscure. Because of patronage there is no advantage stating the simple obvious. As I am not getting a grant, I can be direct. Inflation is manifest differently in each of its many components. My parents bought their house for almost $12,000 in 1959. That was about twice my father’s yearly salary. Today the house is almost half a million in Zillow which would be about ten times the salary of a comparable position, give or take. There are some equivalents. Maybe there is a correspondence between a year’s college tuition and a new car. The social security cutoff seems to be about what it takes to comfortably support an upper middle-class family of four. Inflation has two classes: wage inflation and capital inflation. There is no government control of capital inflation. Wage inflation is controlled by four government agencies. The Department of Labor supervises unions. Immigration is restricted. Commerce allows imports. The Federal Res...