Inflation: What It Is, How It Can Be Controlled, and Extreme Examples

From 1920 to 2020, the S&P 500, which tracks the performance of 500 of the largest companies in the U.S., generated an average annual return of just over 10%, with dividends reinvested. This is a long-term average—in some years, the S&P 500 had lower or even negative returns. Perhaps the best-known example of hyperinflation took…