With regard to productivity, Robert Gordon was the most prominent sceptic.
He has back off from his scepticism somewhat.
I don't think fees are part of the CPI. Nor are sales taxes although
corporate taxes are, at least that is my understanding.
On Fri, Dec 05, 2003 at 01:08:18PM -0800, Martin
joanna bujes wrote:
Private school tuition ranges from $8,000/year to $20,000/year...and
it goes up every year.
My alma mater is up to $34,030! That's nearly 2,300 hours of work at
the average wage, twice as much as in 1973, when I was there.
But do we know how much people really pay? Most
[EMAIL PROTECTED] wrote:
revealed preferences
Who came up with that concept?
Doug
Doug H wrote
revealed preferences
Who came up with that concept?
Paul Samuelson.
Background (from long-ago graduate school days). About 75% of the following is
true.
In the old days of neoclassical economics they made use of the notion
of utility. Utility was generally seen to
Eric concluded:
Unfortunately most who cite/use the CPI do not really understand what the CPI
intends to measure. This is true for almost _all_ economists who use the CPI--
most are unaware of the limits of the CPI measure and, so, use it in
unappropriate ways.
The question is, are they fools
Thanks, that was very interesting. I need to think about it some more.
Joanna
At 12:18 AM 07/06/2002 -0500, you wrote:
I have always considered inflation to be a *general* rise in the price
level, rather than a rise in specific prices which feed into the CPI or,
as we used to call it, the COL.
At 06:09 PM 07/05/2002 -0400, Doug wrote:
The CPI market basket is based on the Consumer Expenditure Survey
http://www.bls.gov/cex/home.htm, not what BLS economists deem it to be,
and it includes education, which they weight at 2.7% of spending
ftp://146.142.4.23/pub/news.release/cpi.txt. In
Joanna wrote re some economists not knowing enough details about CPI, etc:
The question is, are they fools or knaves?
Some of these are people who want to get ahead and, so, delve only deeply
enough into some issue so that they can get published. If the profession
doesn't deem something to be
Doug wrote:
. . .education, which they weight at 2.7% of spending
ftp://146.142.4.23/pub/news.release/cpi.txt. In the CES for 2000,
households spent 1.5% of after-tax income on education. These numbers seem
low, but that's what they say.
That does seem low. But, as oddly, the document
Re the 2.7% average spending on education and childcare:
I wonder the extent to which this is due to the use of household spending
averages.
Example:
Beaver and family: $50,000 spending and $10,000 in education and childcare
spending = 20 spending on ed/childcare%.
70 year old person (a
Title: RE: [PEN-L:27709] Re: Re: Re: Re: Inflation and CPI
also, a lot of the payment for education is in the form of taxes, and so doesn't show up in the CPI. (Does the CPI exclude sales taxes? even if it doesn't, it does exclude most other taxes.)
Jd
-Original Message-
From
Isn't that Samuelson's term?
On Sun, Jul 07, 2002 at 12:10:24PM -0400, Doug Henwood wrote:
[EMAIL PROTECTED] wrote:
revealed preferences
Who came up with that concept?
Doug
--
Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel. 530-898-5321
You have mere preferences; I have cultivated tastes.
On Sat, Jul 06, 2002 at 03:35:39PM -0700, Devine, James wrote:
I don't remember, what's the difference between tastes and preferences?
--
Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel.
Jim D. wrote,
also, a lot of the payment for education is in the form of taxes, and so
doesn't show up in the CPI. (Does the CPI exclude sales taxes? even if it
doesn't, it does exclude most other taxes.)
Only post-tax spending is included in the CPI. Public school spending, etc,
does not
Title: RE: [PEN-L:27656] Re: RE: inflation
I wrote:
at some point, economists decided on a conventional definition of
inflation as referring only to increasing prices of newly-produced
goods and services.
Paul writes:I have always considered inflation to be a *general* rise in the price
Title: RE: [PEN-L:27594] Re: Re: Inflation
Eric wrote:The CPI likely has failed to take into account many declines in the quality of certain services and goods. While many economists have been interested in arguing (rightly in _some_ cases) that the CPI has sometimes failed to reflect quality
Jim wrote,
I don't remember, what's the difference between tastes and preferences?
Same thing except that preferences likely became common language after the
presentation of the notion of revealed preferences in modern welfare
economics. Tastes is just older language for the same thing.
On Thursday, July 4, 2002 at 14:06:16 (-0700) Michael Perelman writes:
Help me out here Doug. Usually, I would be inclined to believe Census figures
over something from Texas, but
Texas Transportation Institute. 2002. 2002 Urban Mobility Study
http://mobility.tamu.edu/ums/
Congestion is growing
Doesn't this exchange confuse the increase in delay with total travel time? I. e.
ignores an increase in distance traveled?
Gene Coyle
Bill Lear wrote:
On Thursday, July 4, 2002 at 14:06:16 (-0700) Michael Perelman writes:
Help me out here Doug. Usually, I would be inclined to believe
I began with the distance to suggest that it should be a component of the
rent. Doug's statistics on delays were useful since the increasing
commutes lead to more congestion, causing more delays.
On Fri, Jul 05, 2002 at 08:15:14AM -0700, Eugene Coyle wrote:
Doesn't this exchange confuse the
Michael Perelman wrote:
Help me out here Doug. Usually, I would be inclined to believe Census figures
over something from Texas, but
Texas Transportation Institute. 2002. 2002 Urban Mobility Study
http://mobility.tamu.edu/ums/
Congestion is growing in areas of every size. The 75 urban areas
At 05:20 AM 07/04/2002 -0400, you wrote:
This raises a question I have always wondered about. In calculating
the CPI, the BLS uses fixed weights which are updated only every
decade or so, right? Right-wingers claim that this overstates
increases in the cost of living because, in reality, people
At 02:06 PM 07/04/2002 -0700, you wrote:
I am happy to hear about NY public transportation. NY may be unusual in that
even moderately well to do people use it.
Returned from NYC a few weeks ago and agree that NYC public transit is a
miracle of convenience/dependability/efficiency. Prosit!
Title: RE: inflation
[was: Greenspan's cooked book]
I wrote:
at some point, economists decided on a conventional definition of
inflation as referring only to increasing prices of newly-produced goods
and services. Given that convention, inflation in housing prices only
counts when
From: Devine, James [EMAIL PROTECTED]
To: '[EMAIL PROTECTED]' [EMAIL PROTECTED]
Subject:[PEN-L:27641] RE: inflation
Date sent: Fri, 5 Jul 2002 16:44:57 -0700
Send reply to: [EMAIL PROTECTED]
I wrote:
at some point
Ellen wrote,
In calculating
the CPI, the BLS uses fixed weights which are updated only every
decade or so, right?
I'll answer this as best I can--a few years ago I knew all this stuff well but
my brain just doesn't remember information like it used to.
The answer to the above is: Yes and
Jim D wrote,
at some point, economists decided on a conventional definition of inflation
as referring only to increasing prices of newly-produced goods and services.
Given that convention, inflation in housing prices only counts when it
affects apartment rents (or imputed rent on
Eric is our resident expert on the subject, since Dave R. has been been
relatively silent. Are you still here, Dave.
I have some questions: For example, how much have waiting times for medical
care increased? Do rising housing costs require people to locate further from
work, increasing
Michael Perelman wrote:
I have some questions: For example, how much have waiting times for medical
care increased?
The medical care component of the CPI has increased more than twice
as much as the overall CPI since 1979. Its weight is only 6% of the
total index, however.
Do rising
Jim Devine wrote:
How can Passell say such things??
I often read Passell's columns. He's simply a mouthpiece for a sub-set of
mainstream economists. He quotes and promotes the work of dishonest
scholars like Dale Jorgeson and his ilk.
I had read the column referred to by Lynn Turgeon and
Jim Devine wrote:
How can Passell say such things??
I often read Passell's columns. He's simply a mouthpiece for a sub-set of
mainstream economists. He quotes and promotes the work of dishonest
scholars like Dale Jorgeson and his ilk.
I had read the column referred to by Lynn Turgeon and
Lynn Turgeon writes: Passell also concludes that most people
seem to win as a result of overall deflation just as most people
seem to lose from overall inflation and therefore tend to go
along with fighting inflation as a national policy. No wonder
there is inertia among Japanese
Lynn Turgeon writes: Passell also concludes that most people
seem to win as a result of overall deflation just as most people
seem to lose from overall inflation and therefore tend to go
along with fighting inflation as a national policy. No wonder
there is inertia among Japanese
paul burkett wrote:
I would like to lodge a general info request, concerning whether anyone knows
of any articles that documents differences in expectations of inflation
between workers and capitalists (or as a second best, among different income
groups). Please respond to me personally,
From: IN%"[EMAIL PROTECTED]" 30-JAN-1995 19:36:57.56
CC:
Subj: [PEN-L:3974] Re: inflation
Return-path: [EMAIL PROTECTED]
(PMDF V4.3-13 #6545) id [EMAIL PROTECTED]; Mon,
30 Jan 1995 19:36:39 +1100
("port 2087"@anthrax.ecst.csuchico.edu) by vaxc.cc.monash.edu.au
At 10:19 PM 1/29/95, Eugene Coyle wrote:
Ok, I'll take the bait. What are you saying here Doug? Are you saying
that high capacity utilization raises costs and thus CAUSES price
increases?
That seems implied in what you wrote. But you also imply the other
assertion, that businesses raise
Originator: [EMAIL PROTECTED]
Sender: [EMAIL PROTECTED]
From: [EMAIL PROTECTED] (Doug Henwood)
Subject: [PEN-L:3970] Re: inflation
X-Listprocessor-Version: 6.0c -- ListProcessor by Anastasios Kotsikonas
X-Comment: Progressive Economics List
At 4:26 PM 1/27/95, Eugene Coyle wrote:
At 4:26 PM 1/27/95, Eugene Coyle wrote:
One last remark. We keep reading about the high level of
capacity utilization, how 85% is histyorically high, and cannot be
sustained. But if you look back at the end of the '60s, you'll see that
capacity utilization rates were above 90% for
At 1:25 PM 1/26/95, [EMAIL PROTECTED] wrote:Doug Henwood, seconding Gene
Coyle's views, writes:
"The price of credit matters much less than its availability,
and the willingness of borrowers to use it."
Won't credit be made available if the price is high enough,
and borrowers more willing to use
I was contrasting a period in the past -- e. g. the 1960's, when
when the Fed was able to absolute stop the availibility of funds
to the banks, because they put a ceiling on the rates banks could
pay to depositors. Thus the banks would turn away borrowers.
The actual process at a bank
I asked a question about Greenspan's motives re the CPI debate.
Maybe it doesn't matter unless you are in the bond market this
week. The experts are betting on the Fed raising interest rates soon.
But Mexico is a probelem. So my question is this: Did Greenspan float his
attack on the
At 12:40 PM 1/24/95, Eugene Coyle wrote:
I asked a question about Greenspan's motives re the CPI debate.
Maybe it doesn't matter unless you are in the bond market this
week. The experts are betting on the Fed raising interest rates soon.
But Mexico is a probelem. So my question is this: Did
At 1:33 PM 1/22/95, Michael Perelman wrote:
If consistency is the hobgoblin , then we must acknowledge the greatness
of A. Greenspan. One day, he must raise interest rates to fight inflation.
The next day, he tells the Congress that the BLS is overstating inflation.
As one of at least two
The CPI does try to make quality adjustments. Whether the BLS succeeds is
a matter of controversy, but they do try. As an aside, I talk to a lot of
the faceless bureaucrats at BLS, BEA, Census, and elsewhere who produce
these figs, and I've always been impressed with their openness, honesty,
Date: Mon, 04 Apr 1994 12:39:22 -0700
From: [EMAIL PROTECTED]
Subject: Inflation measurement
Sender: [EMAIL PROTECTED]
How does the CPI numbers reflect quality increases/decreases in a
product? For example, car engines today have longer-lasting engines and
are 2-3 time better fuel economy; in
Peter D. writes:
I disagree with Rudy F about inflation being a mechanism that lowers real
wages, either logically or historically. Logically, of course, the circular
flow indicates that aggregate purchasing power remains unaffected, and the
main distributional effect of greater-than-expected
There is one other complication in the question about inflation and real
wages: Many of the people in the working class are NET DEBTORS. This is
particularly true of the section that owns their own homes -- as well as those
who are struggling to get out of the working class with heavy student
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