Re: recent economic trends

[Tom Walker]

Jim Devine wrote,

>it's on the "cost of living" inflation rate, something that first appeared 
>in rudimentary form in pen-l a couple of years ago. The basic idea is that 
>if you include non-market aspects of the cost of living as part of a 
>measure of average prices (the actual price of buying the use-values 
>measured by real GDP), then the inflation rate has been higher than 
>even  as measured by the old, non-bowdlerized, version of the CPI. Of 
>course, it's not a kind of inflation that's relevant to monetary policy, 
>but it's relevant to our real living standards.

Sounds interesting. Could you expand a bit?

Tom Walker
Sandwichman and Deconsultant
Bowen Island, BC