History
The concept of core inflation as aggregate price growth excluding food and energy was introduced in a 1975 paper by Robert J. Gordon. This is the definition of "core inflation" most used for political purposes. Core inflation was also developed and advocated by Otto Eckstein, in (Eckstein 1981).
Read more about this topic: Core Inflation
Famous quotes containing the word history:
“History is more or less bunk. It’s tradition. We don’t want tradition. We want to live in the present and the only history that is worth a tinker’s damn is the history we make today.”
—Henry Ford (1863–1947)
“The history of this country was made largely by people who wanted to be left alone. Those who could not thrive when left to themselves never felt at ease in America.”
—Eric Hoffer (1902–1983)
“To summarize the contentions of this paper then. Firstly, the phrase ‘the meaning of a word’ is a spurious phrase. Secondly and consequently, a re-examination is needed of phrases like the two which I discuss, ‘being a part of the meaning of’ and ‘having the same meaning.’ On these matters, dogmatists require prodding: although history indeed suggests that it may sometimes be better to let sleeping dogmatists lie.”
—J.L. (John Langshaw)