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It's not just your opinion. It's widely known in economics. It's so widely known in fact that statistics agencies state exactly how they come up with inflation
by killingtime74 2y ago
It's not just your opinion. It's widely known in economics. It's so widely known in fact that statistics agencies state exactly how they come up with inflation figures, which basket of goods they base it on and adjustments.
https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/annual-weight-update-cpi-and-living-cost-indexes/latest-release https://www.abs.gov.au/statistics/economy/price-indexes-and-...
There are other indices if you want to compare historical prices relevant to moon programs
- wakaru44 2y ago> There are other indices if you want to compare historical prices relevant to moon programs Could you please expand or give a few pointers on those indices? Or where could I learn more about this.
- killingtime74 2y agoIf there's a budget available analysing that and what the biggest costs would yield the most accurate estimates. Could be more but the biggest cost is probably labour and there are 2 indexes for that: https://www.bls.gov/news.release/eci.nr0.htm https://www.bls.gov/news.release/eci.nr0.htm https://www.bls.gov/productivity/ https://www.bls.gov/productivity/ Wages can be drilled down to the employee groups that would be predominant, such as machinists or engineers. Productivity can approximate how much more efficient people are now due to technology. Then major component costs can be compared from other current rockets vs historical costs.