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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: patron_anejo_por_favor who wrote (17974)9/13/2000 12:30:55 PM
From: LLCF  Read Replies (1) of 436258
 
<It would be one thing if you could actually buy and use the stuff now rendered obsolete by the "newer and better" at those low, low prices...but, in most cases you can't, and that is where hedonic pricing misses the mark badly, IMO.>

You know these hedonic price adjusters are just way too close to the situation in any case... anyone sitting back in their 'Adarondack Chair of Life' and pondering the larger issues, instead of firing off a couple of quick paragraphs to meet this weeks Barron's issue deadline, can see that this is classic 'forest through the trees' stuff. The number crunchers on the front lines grind away attempting to measure incremental increases in product value while ignoring wide swaths of value changes elsewhere in the economy. Moles toil in their caves unaware of or purposefully ignoring changes in the quality of life which dwarf the value of a microprocessor to the individual.
While obese 5 year olds wolf down processed food and inhale toxins many times higher than 30 years ago at daycare because both parents are working, the moles are measuring the increased value over last year of the new T.V. the couple just purchased. The moles would no doubt declare todays food supply itself superior by many times over that same time period because of increased shelf life, pretty packaging, and other 'conveniences'... must I go on?

When will the moles start measuring the 'big picture'?

DAK
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