I blame American schools
Reader comment on: Shlaes on Inflation
in response to reader comment: Doing the math correctly
Submitted by Hywel Morgan (Canada), Jul 18, 2014 16:34
(a) $2.5 / $0.6 = 4.17 That is a ratio.
(b) that is known (all over the world, guys) as a rise of 317% not 417%. A 100% rise is a ratio of 2.00
(c) 317% over 15 years. That's 8%pa
(d) 10% pa over 15 years gives a ratio of 4.17
(e) 417% over 15 years would be a ratio of 5.17. That's 11.5%pa.
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The Future of Capitalism replies:
Thanks for reading so carefully and for the math lesson.
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↔ ⇒ I blame American schools [w/response] [65 words] | Hywel Morgan | Jul 18, 2014 16:34 |
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