Captain Capitalism, whom we’ve met in these pages before, has a new article about tuition fees. In the process of explaining why they’re so high, he describes inflation in very simple, easy-to-understand terms – probably the clearest description of it that I’ve ever read. Anyone with even a Grade 5 or 6 education should be able to grasp it without difficulty.
If you’ve ever wondered why prices go up all the time, the article will answer your questions. It’ll also demonstrate why the Fed’s policy of quantitative easing during the recent financial crisis was so potentially dangerous. Its effects have not yet made themselves felt in full.
You’ll find his article here. Go read. It’s worth your time.