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This depends on very closely with how precisely you account for inflation. Accounting for inflation is not scientific. Its a social science. A median household
by randyrand 9y ago
This depends on very closely with how precisely you account for inflation.
Accounting for inflation is not scientific. Its a social science. A median household can afford more of and better quality things today than the past, but some measures of inflation will not account for this correctly.
- ptr_void 9y agoThanks, I didn't realize this aspect of inflation. Although I'd imagine the straight forward measure is good enough when it is used for relative comparisons between top x% to bottom y%.