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To: Moominoid who wrote (59080)	1/18/2001 7:55:28 AM
From: pater tenebrarum	Read Replies (1) \| Respond to of 436258

David, <<I'd also argue that many software upgrades are reductions in quality :)>> ROFLMAO! quite right that tech hardware manufacturing ITSELF is where the biggest productivity gains are recorded. since it doesn't make a difference for Dell if it cobbles together a box with a 500mhz CPU or one with a 1Ghz. CPU, they're now producing PCs with twice the processor speed using the same amount of labor. i'm not sure if it makes them twice as productive, but that's what government seems to assume. the problem with this is that a tiny slice of the economy (i believe PC manufacturing is 2% or so of GDP)accounts for "productivity gains" so large that the entire data set is distorted. if Commerce were to publish productivity ex PCs ('CORE productivity', now that's a novel idea, eh? -g-) separately, we'd have a better idea of what's REALLY happening in the economy. regarding the people depending on COLA adjusted income, i fully agree: as the better part of their income is spent on necessities, they get hit by a double whammy actually: not only are they less likely to be able to afford the new and improved goodies, but they also have to contend with the fact that the bulk of their spending is on things that are subject to a much higher inflation rate than CPI - so they're indexed to the wrong basket. anyway, here's the TRUTH about hedonic indexing -g-: markpoyser.com