15 March

I still remember a packet of chips being 10 cents at the school canteen. And I often think, why does inflation exist? Why is a packet of chips now up around $1-$2? Wages have gone up at the same time, so why didn’t we just decide to keep them at 10 cents and not adjust wages? Economists would see that as a simpleton question. But economics is like nutrition, mostly a bankrupt field of knowledge. There’s something extremely important about understanding inflation that economics won’t teach you, I’m really sure. And compound interest is part of it, I’m betting, interest in general is part of it, the idea of usury. The core of our financial world.