Magazine
Latest Issue

One of the most difficult investment disciplines to master is to learn from one’s experience but not to over-learn. It is human nature to give greater weight to those things one has experienced and less to the experience of previous generations. Inflation is one of the most fundamental of investment concepts. Its effects are extremely pervasive and hard to avoid. Yet chronic inflation is a very modern phenomenon. For most of British history, periods of falling prices are as common as those of rising ones. One reliable estimate puts prices at the beginning of the first world war as little…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

We want to hear what you think about this article. Submit a letter to letters@prospect-magazine.co.uk

More From Prospect