Measuring Venezuela’s hyperinflation

Venezuelan BOB100 note

In a lecture delivered at the Institute of Civil Engineers on May 3, 1883, Lord Kelvin had this to say about measurement: “I often say that when you can measure what you are speaking about, and express it in numbers, you know something about it; but when you cannot measure it, when you cannot express it in numbers, your knowledge is of a meagre and unsatisfactory kind; it may be the beginning of knowledge, but you have scarcely, in your thoughts, advanced to the stage of science, whatever the

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