4 ms·

Real question that nobody has yet answered: With what data CPI is even calculated? The data sources are all hidden. Related: https://news.ycombinator.com/item?

Real question that nobody has yet answered: With what data CPI is even calculated? The data sources are all hidden. Related: https://news.ycombinator.com/item?id=26259279 https://news.ycombinator.com/item?id=26259279

whoisninja 6y ago
Keynesian economics kool-aid, all the Phd Econ guys worship guy who had done some really shady stuff in his life. Nobel prize in economics was started by Sveriges riksbank in 1968, just to perpetuate same ideaologies. Shady af.
- seibelj 6y ago
  Keynes was also a child sex tourist who frequently preyed on boys, sometimes with friends https://skeptics.stackexchange.com/questions/2802/was-john-maynard-keynes-a-child-molester https://skeptics.stackexchange.com/questions/2802/was-john-m... Edit: not sure why I’m being downvoted. He admitted in his diaries as a 30 year old man he would pay for sex from 16 year olds, and referenced others as “boys” without ages. By modern standards he would be a sex offender for life. We seem to hold all historical figures by modern standards now, not sure why we give this pedophile a pass.
  - finolex1 6y ago
    Irrelevant to the topic at hand.
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  - konjin 6y ago
    > By modern standards he would be a sex offender for life. Age of consent in Britain in 16 and 14 in Central Europe. We also don't imprison 15 year olds for life. Not all the world suffers from Yankee puritanism to the benefit of everyone.
- eru 6y ago
  Non-Keynesian economists, like the neo-classicals for example or the market monetarists or even the more serious of the Austrians, don't disagree here.
whoisninja 6y ago
there's this also: https://wtfhappenedin1971.com/ https://wtfhappenedin1971.com/
- CountSessine 6y ago
  https://en.m.wikipedia.org/wiki/Nixon_shock https://en.m.wikipedia.org/wiki/Nixon_shock
fennecfoxen 6y ago
The data are all over bls.gov, in far more detail than you will find convenient for processing. See my remarks down the page: https://news.ycombinator.com/item?id=26386293 https://news.ycombinator.com/item?id=26386293 If they're not giving you a one-page report on the methodology for how they arrived at each individual point-in-time price figure that they recorded, well, I'm sorry, it's true, their methods are in that sense "hidden".
derefr 6y ago
The input to CPI is secret shoppers visiting a variety of retail outlets, and buying things (or write down the advertised prices for things) without telling the retail outlet what they’re doing. Publishing the particular products looked at, or even the particular stores visited, would invite market manipulation of the CPI figure by re-pricing the included goods.

whoisninja 6y ago

Keynesian economics kool-aid, all the Phd Econ guys worship guy who had done some really shady stuff in his life. Nobel prize in economics was started by Sveriges riksbank in 1968, just to perpetuate same ideaologies. Shady af.

seibelj 6y ago
Keynes was also a child sex tourist who frequently preyed on boys, sometimes with friends https://skeptics.stackexchange.com/questions/2802/was-john-maynard-keynes-a-child-molester https://skeptics.stackexchange.com/questions/2802/was-john-m... Edit: not sure why I’m being downvoted. He admitted in his diaries as a 30 year old man he would pay for sex from 16 year olds, and referenced others as “boys” without ages. By modern standards he would be a sex offender for life. We seem to hold all historical figures by modern standards now, not sure why we give this pedophile a pass.
- finolex1 6y ago
  Irrelevant to the topic at hand.
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    [deleted]
- deleted 6y ago
  [deleted]
- konjin 6y ago
  > By modern standards he would be a sex offender for life. Age of consent in Britain in 16 and 14 in Central Europe. We also don't imprison 15 year olds for life. Not all the world suffers from Yankee puritanism to the benefit of everyone.
eru 6y ago
Non-Keynesian economists, like the neo-classicals for example or the market monetarists or even the more serious of the Austrians, don't disagree here.

whoisninja 6y ago

there's this also: https://wtfhappenedin1971.com/ https://wtfhappenedin1971.com/

CountSessine 6y ago
https://en.m.wikipedia.org/wiki/Nixon_shock https://en.m.wikipedia.org/wiki/Nixon_shock

fennecfoxen 6y ago

The data are all over bls.gov, in far more detail than you will find convenient for processing. See my remarks down the page: https://news.ycombinator.com/item?id=26386293 https://news.ycombinator.com/item?id=26386293 If they're not giving you a one-page report on the methodology for how they arrived at each individual point-in-time price figure that they recorded, well, I'm sorry, it's true, their methods are in that sense "hidden".

derefr 6y ago

The input to CPI is secret shoppers visiting a variety of retail outlets, and buying things (or write down the advertised prices for things) without telling the retail outlet what they’re doing. Publishing the particular products looked at, or even the particular stores visited, would invite market manipulation of the CPI figure by re-pricing the included goods.