Reading Gordon White wow wow wow It had never even occurred to me that inflation also pushes you into higher tax brackets and reduces expenditures like social security benefits if those numbers aren't adjusted for the real rate of inflation so much subtle wealth transfer
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seriously inflation is sort of a useful concept but trying to measure it is a nightmare, especially in times of rapid technological progress fun example how do you factor in CPU improvements? do households consume chips, or consume clock cycles?
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chips have gotten a bit cheaper (tho it varies) clock cycles have dropped in cost by a factor of god knows what good luck modeling this and this is but one problem with establishing a representative consumption bundle
End of conversation
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this is probably a theorem (yet undiscovered)
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