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:
“In front of these sinister facts, the first lesson of history is the good of evil. Good is a good doctor, but Bad is sometimes a better.”
—Ralph Waldo Emerson (1803–1882)
“You treat world history as a mathematician does mathematics, in which nothing but laws and formulas exist, no reality, no good and evil, no time, no yesterday, no tomorrow, nothing but an eternal, shallow, mathematical present.”
—Hermann Hesse (1877–1962)
“Properly speaking, history is nothing but the crimes and misfortunes of the human race.”
—Pierre Bayle (1647–1706)