Anyone who has ever risked blogging about inflation knows there are two kinds of commenters out there. First, there are those who are sure that inflation, although quiet lately, is poised for a big breakout that will destroy the economy. Second, there are those who are sure inflation has already done so, and that anyone who believes government data to the contrary is a real sucker.
This post is for the benefit of the second group. I’ve based it on material from a wonderful website, www.wishbookweb.com, that I ran across by chance while doing research for the national accounts chapter of my econ textbook. The site archives full-color, page-by-page images of dozens of old mail order catalogs from as far back as the 1930s. Read more>>>
This post is a sneak preview from the forthcoming 5th edition of Introduction to Economics by Edwin G. Dolan, BVT Publishing