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Politics : Ask Michael Burke

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To: Skeeter Bug who wrote (112106)	3/11/2008 11:25:21 PM
From: TimF	Read Replies (1) of 132070

I've read about it on this thread and elsewhere. I mostly disagree with you, except the worry about the arbitrary part. The increase in quality is more important to me than the number of dollars, but to the extent its arbitrary, real gains could be over rated. OTOH there are also ways that inflation could be underestimated. Basically estimating inflation is problematic all the way around. You have to do it if you want to do things like calculate real growth, cost of living adjustments etc., but the idea that its close to precise is silly.

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