- In economics, inflation is a general increase in the prices of goods and services in an economy. This is usually measured using the consumer price index (CPI). When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money. The opposite of CPI inflation is deflation, a decrease in the general price level of goods and services. The common measure of inflation is the inflation rate, the annualized percentage change in a general price index. As prices faced by households do not all increase at the same rate, the consumer price index (CPI) is often used for this purpose.
- Richard Wagner, Bayreuth and Italy (german-way.com)
Richard Wagner (1813-1883) revolutionized classical music with his Tristan und Isolde (1859) and The Ring (1874). His tremendous influence on opera came from his “musical dramas,” including the “Ring Cycle” and the Meistersinger von Nürnberg. Because Wagner wanted the perfect stage for his productions, he custom built his now famous Festival Hall in Bayreuth, still today the home of the annual Bayreuth Festival (Bayreuther Festspiele). Wagner’s supporters say his music transcends his dark side as an antisemite, a deadbeat, and a philanderer. His life was also intertwined with that of King Ludwig II of Bavaria, who supported Wagner financially over many years beginning in 1864, but did not agree with the composer’s antisemitic views.