Re: Historic Money
posted at 3/8/2012 9:25 PM EST
In Response to Re: Historic Money
[QUOTE]You lose. The CPI is the measure that is used in these situations to compare the relative real salary differences over time. Try Economics 101 which is taught at any college. It is also used to track other components such as relative costs of food, housing, transportation, entertainment, insurance, and health care over time. Give it up and admit that you are wrong on this. Double the population would only translate to double the salaries and that is what you attributed the increase to in your post of 8:38 pm. You said " no story here" and then you later added on the other factors. You attributed it all to population ( "No Story here" ) and then corrected yourself five minutes later.
Posted by FortMeade[/QUOTE]
Even though the CPI is used, doesn't make it right. Consumers decide how and where to spend their limited resources, this is the essence of economics. The "science" of economics is so often wrong, one should put very little faith into what an economist states. For example, households today spend a portion of their funds on cell phones, a commodity not found in 1950. So, obviously, consumer choices change, prices change, and values change. Big Papi is "worth" every penny, you are arguing the opposite, dumb man, dumb.
The Keynesians have been in vogue lately, but they'll fall out of favor soon enough. Economist, explain what
happened, they are historians, they can not tell you what will
happen. Sorry, you are so confused on this.