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CPI is very tough to determine. For example, how do you calculate the CPI on computers? They’re a million times better now, but are also cheaper. My Macbook is
by FredPret 2y ago
CPI is very tough to determine.
For example, how do you calculate the CPI on computers? They’re a million times better now, but are also cheaper. My Macbook is not the same product as my 486 from decades ago.
This affects everything. Take medical care as you said. The outcomes there are much better than before, so how do we calculate inflation on medical expenses?
If you provide a 10% better product/service for a 10% higher price, is that inflation? What if all of society gets richer and insists on the second, better version of your service as a minimum?
If houses get bigger and nicer and our standards for “a house” go up over time, and houses also get more expensive, then what is the inflation on housing?
I think they’re genuinely doing their best with the CPI calcs, even though it’s not possible to get a true number.
Long story short though, life has gotten dramatically better in material terms, for everyone, especially the poor.
- _DeadFred_ 2y agoAh yes, the poor, benefiting from the new corporate 'zero hour jobs' meaning you can't count on having hours next week or what your schedule will be other than that hours will be kept at less than full time to make sure you don't accidentally qualify for benefits. For 'the poor' tt was hard enough to juggle multiple 'part time' jobs that companies created to avoid full time benefits, but now multiple part time 'zero hour' jobs is ridiculous (especially when both expect you to work around/prioritize their non-consistent schedule you get last minute). Do you even know anyone who's 'the poor'?
- ProfessorLayton 2y agoI too hated my last minute scheduling when I was working retail while in college, but it's also equally ridiculous that benefits like health insurance are tied to an employer in the first place.
- actionfromafar 2y agoHealth insurance tied to an employer is a local maximum.