s of goods and services
from different time periods to the same price level
. To adjust for inflation
, an indicator is divided by the inflation index. This adjustment process takes prices — generally for a given year (e.g., "1942 dollars") — in the original "nominal dollars" and renders them into "constant dollars
" (also referred to as "today's dollars").
It is easy to show that 7% inflation, lasting 10 years, would nearly double the cost of living (1.07^10=1.96).
The inhabitants of the earth are of two sorts: Those with brains, but no religion, And those with religion, but no brains.
A little philosophy inclineth man's mind to atheism; but depth in philsophy bringeth men's minds about to religion.
Atheism leaves a man to sense, to philosophy, to natural piety, to laws, to reputation; all which may be guides to an outward moral virtue, though religion were not; but superstition dismounts all these, and erecteth an absolute monarchy, in the minds of men.
ATHEISM: A godless religion that retains all the dogmatic posturing of the faiths it so confidently denies, with few of the consolations.