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To: pater tenebrarum who wrote (59061)	1/18/2001 4:54:19 AM
From: Moominoid	Read Replies (1) \| Respond to of 436258

Our thinking seems to be closer than it seemed at first. Another problem with using the price indices to adjust welfare and social security payments relating to substitution is that the people receiving the payments can't necessarily take advantage of the the new goods or cheaper prices on offer in say suburban shopping malls. Their own consumption price index might be quite different. It seems that IT still is making a pretty modest contribution to productivity in the non-IT producing sectors of the economy. The rise in productivity growth is primarily focused in the high tech production sectors themselves. A lot of the additional computing power is probably not being effectively used. I'd also argue that many software upgrades are reductions in quality :) and should be taken out of the output of the software industry. David