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However, that doesn't account for certain increases in the standard of living that can't be captured by the usual inflation indices: better cars, comp
by ido 15y ago
However, that doesn't account for certain increases
in the standard of living that can't be captured by
the usual inflation indices: better cars, computers,
cell phones, cheaper international travel, etc.
But those aren't Japan-specific, are they?
"Quality of life" is always relative to the rest of the world.
- fauigerzigerk 15y agoI'm not sure whether there is something Japan specific or not, because the way in which inflation is measured differs in rather peculiar ways between countries. E.g, the BLS uses something called hedonic adjustment to account for changes in the quality of goods over time (http://www.bls.gov/cpi/cpihqaqanda.htm#Question_2 http://www.bls.gov/cpi/cpihqaqanda.htm#Question_2). So, if vendors of mobile devices keep throwing in new functionality for the same price, that will reduce reported CPI numbers. This is obviously fraught with all sorts of difficulties (and causes lots of conspiracy theories). I have no idea how Japan does it, but these things have a great effect on the relationship between reported and perceived standard of living.