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I kinda wonder if technical advances means we actually have de facto deflation. Regular stuff is constantly being improved. Perhaps socks are 2% cheaper or bett
by jfoutz 10y ago
I kinda wonder if technical advances means we actually have de facto deflation. Regular stuff is constantly being improved. Perhaps socks are 2% cheaper or better every year, effectively making inflation negative.
- fauigerzigerk 10y agoThis idea is already part of how inflation is measured. It's called Hedonic Quality Adjustment: https://www.bls.gov/cpi/cpihqaqanda.htm https://www.bls.gov/cpi/cpihqaqanda.htm But I also think that this is difficult to get right.