3 ms·
Ok, so the graph isn't showing the price change of actual cars that people buy, buy hypothetical cars invented based in feature set. It's kind of a weird compa
by Thorrez 5y ago
Ok, so the graph isn't showing the price change of actual cars that people buy, buy hypothetical cars invented based in feature set.
It's kind of a weird comparison, because it makes it seem like people less in inflation-adjusted dollars, when in fact that's not true.
- blagie 5y agoThat's a universal problem in estimating inflation. People buy different things, and products come and go. How do you compare a house build to 1900 standards to one build to 2020 standards? How do you compare fresh foods from the local farmer to factory-manufactured ones? People shift preferences based on prices too. Manufactured goods started out as premium products, and now, fresh foods are increasingly a premium product. It's an impossible problem. People either do their best, or lie with statistics, depending on the domain.