Applied Materials No-Politics Thread (AMAT) Message Board

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Technology Stocks : Applied Materials No-Politics Thread (AMAT)

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Dec 19 3:59 PM EST

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To: willcousa who wrote (7253)	9/22/2003 1:54:02 PM
From: Sam Citron	Read Replies (1) of 25522

Oh, the bureaucrats are quite diligent. When automobile prices increased $1,500 per year due to increased safety standards and pollution equipment, the federal government was quite concerned to differentiate this from inflation that would have to be reflected in COLAs. And so the economic bureaucrats were summoned to determine some way of measuring the qualitative improvement in a 1991 car vs. a 1990 car. They did so beautifully, and the results have a very salutary effect on the offocial measurements of inflation, productivity and GDP. I'm not sure whether they themselves realized just how significantly these indicators would be impacted by Moore's Law due to the hedonic adjustments. In that sense, perhaps the bureaucrats were not diligent enough, or perhaps they were too diligent.

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