David Levenstam wrote:
Yes, the BLS series uses CPI-u to deflate the nominal wage series.
Since
CPI-u doesn't account for changes in the quality of goods or the
market basket,
and overstates inflation more the higher the actual rate of inflation,
for the
inflationary period from roughly 1968-1983
This is completely wrong. The CPI-u is, and the CPI-x was, adjusted
for
quality changes (see http://www.bls.gov/cpi/home.htm ). The CPI-X
doesn't exist anymore.
So what price statistic wasn't adjusted for quality changes?
They all are. No one (who knew what he was talking about) has ever
Better late than never, but I would argue the opposite happens quite a bit
too- journalists spend a lot of time digging to find someone who disagrees
and to give them some semblance of an equal voice even when the position
they represent is laughably unequal. If Bill Clinton or George Bush say
In a message dated 12/3/03 1:53:31 PM, [EMAIL PROTECTED] writes:
This is completely wrong. The CPI-u is, and the CPI-x was, adjusted
for
quality changes (see http://www.bls.gov/cpi/home.htm ). The CPI-X
doesn't exist anymore.
So what price statistic wasn't adjusted for quality changes?
They
I've seen many stories about government attempts to stop price gouging and
none even hinted that there was another side, that gouging was good, that
anti-gouging laws shouldn't exist, that they defeat market pricing, or that
the laws caused problems.
I've seen many stories about seafood being
