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The Rising Prices Puzzle

One of the most intriguing aspects of the economy is the perpetual increase in prices. If we look back in history, incomes and prices were drastically different compared to today. In Jane Austen's novel "Pride and Prejudice," Mr. Darcy was regarded as one of Britain's wealthiest individuals in 1813, with an annual income of £10,000. Surprisingly, that amount is less than half of what a newly graduated primary school teacher would earn in "Sense and Sensibility" today.