The Cost of Prisons and the Opportunity Cost of Allocating Resources

Inflation is something we more or less take for granted these days. The idea that 5 dollars today is not going to be able to buy 5 dollars worth of stuff in the future, and the fact that you used to be able to buy a family home for 10 grand, are all the result of inflation. 

The idea that over time money becomes worthless and less influences a lot of decisions in out lives. Everything from retirement planning to salary negotiations take this relatively benign and constant force into account. 

But it is something that should be feared. 

Learn more about your ad choices. Visit megaphone.fm/adchoices