The value society places on salmon has changed over time. Values of salmon were quite low relative to other uses during the period of irrigation, hydropower and navigation development. This short sighted view of resource values leaves a dwindling number of salmon and a legacy of property rights...

Before the twentieth century, inflation was more or less sporadic. There were intermittent episodes of runaway prices, superimposed on a general upward tilt in prices. We are now in the Age of Inflation; inflation has become a way of life. The public focuses particularly on short-term price...