Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: patron_anejo_por_favor who wrote (16703)	3/9/2002 12:00:22 PM
From: Mike M2	Read Replies (1) of 74559

Patron, for the sake of simplicity I am willing to concede that the quality of life has never been better ( I am not asserting this is so but I do want to simplify the debate) . The only way to make a valid comparison economic activity is to measure it in real( adjusted for inflation) dollars. Hedonics are irrelevant in the real world. I must beat this point to death that Dell , Gateway et.al report their result in nominal dollars- hedonicly deflated dollars are not a medium of exchange. In general, the IRS taxes income from whatever source derived - they nailed Al Capone but the IRS does not tax corporation based upon hedonic results. You cannot spend hedonicly deflated dollars. To beneficiaries of the finest health care ever in the history of man their benefit is priceless but the providers of the medical MIRALCE are paid in NOMINAL DOLLARS. MIKE

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