Tweet [1]
HT to Michael York for alerting me to this Money Illusion post by Scott Sumner [2] – a post that contains this graph:
Relatedly: below it is a screen-shot of a slide in one of my PowerPoint presentations:
UPDATE: Ike Pigott, in the comments, sends along this “in motion” version [3] of the graph from Scott Sumner’s post that I share above.