A hedge against inflation

You and I may not understand all of the intricate factors that contribute to inflation or the economic policies used to combat it. What we do understand is that when we go to the store, our dollar or yen or pound doesn't buy as much for us as it did a few years ago—or even a few months ago.

Is there an effective defense—a hedge—against this chronic economic ill? It may be some time before society as a whole is willing to take the necessary steps to control inflation, but there is something we can individually do. We can develop a quality that will give us a measure of protection against inflation. That quality is modesty.

Why leave mental ability latent?
May 15, 1978

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