"First, the CPI overestimates inflation by underestimating the value of improvements in product quality and variety" As others have pointed out this is very de

"First, the CPI overestimates inflation by underestimating the value of improvements in product quality and variety" As others have pointed out this is very debatable. Especially since CPI is corrected for that already. Also consider certain goods have gone down in quality due to being mass produced instead of hand tailored. "Fresh" produce are more available but often old and stale because they come from far away. Inflation is overestimated on these types of items. "health benefits, pensions, paid leaves and the rest now amount to an average of almost 31% of total compensation for all civilian workers" Health care is costlier, securing a pension is costlier (due to low investment returns), more paid leaves are probably due to both adults working in a family which is unsustainable in times of family crisis. This is related to: "Third and most important, the average hourly wage is held down by the great increase of women and immigrants into the workforce over the past three decades" So let me get this straight, previously a single income was enough to sustain a family of often 5 or more and now you need two incomes for a family of only 3 or 4 and this dude thinks that makes people feel richer?? Also consider that one reason people don't have 5 kids anymore is that they wouldn't be able to afford them and can't take care of them because both parents have to be working. "spending by households on many of modern life's "basics" fell from 53% of disposable income in 1950 to 44% in 1970 to 32% today." Is that for median households or is this number skewed by including the super rich in the average? I'm suspicious that this isn't specified. Also this is a complex number with lots of caveats. For a single earner family (remember this used to be sufficient), is this still true? "Before airlines were deregulated, for example, commercial jet travel was a luxury that ordinary Americans seldom enjoyed." The fact that technology has made air travel's costs more in line with other forms of travel, doesn't make a person richer. Sure it gives that person more options, and some quality of life improvements if he or she chooses these options. However, if a median worker could afford only a few train tickets a year in 1980 he still can't afford many more train or plane tickets today with his dwindling salary.