You hear it all the time: We must have the Federal Reserve in order to keep prices stable.

This is a graph of the Consumer Price Index from 1800 to 2007:

It doesn’t take a rocket scientist to figure out which part of this is more stable.

This entry was posted on Monday, March 24th, 2008 at 7:32 am and is filed under Economics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.