Stagflation Then, Now

Tim has a great post at TMTGM comparing the economic conditions of the 70's stagflation with today. His reasoning is excellent, his data abundant and well worth a read. Tim does a particularly good job of going down into the weeds on how the government has changed, often dramatically, how inflation calculations have been changed over the last 40 years.

The short version ends with this rhetorical question:

Which has changed more over the last 28 years, inflation or how it's calculated?