The same $1 bill (absolute value) is able to purchase dramatically different goods and services (functional value) now versus 30 years ago.
It is much easier to count and compare the absolute value of money than it is to calculate and compare its purchasing power. HOWEVER, what almost all of us really care about is preserving and increasing that purchasing power.
Charles Tadros, M.D.
August 28, 2021
Saint Louis, Missouri