Re:Public Comment on Inflation Measurement
by iamdamian on Wednesday September 08, 2021 @06:59PM
(#28464115)
The video is a tad confusing. He has this idea that methods from physics and calculus should be ported over to economics to tackle unsolved problems like inflation, and he doesn't clearly delineate the two when speaking. (The economics portion starts about 16 minutes in.)
I realized though that I didn't link to the best video to convey my point. Here is a more specific talk on inflation given by him and his wife to a room full of economists: https://www.youtube.com/watch?v=zwiHv7xVQ_c
Notably, the economists in the room point out that the inflation problem has already been tackled from a theoretical angle which does incorporate calculus. However, they say the resulting idea (the Divisia index) isn't practical for nation-level inflation measurements.
I realized though that I didn't link to the best video to convey my point. Here is a more specific talk on inflation given by him and his wife to a room full of economists: https://www.youtube.com/watch?v=zwiHv7xVQ_c
Notably, the economists in the room point out that the inflation problem has already been tackled from a theoretical angle which does incorporate calculus. However, they say the resulting idea (the Divisia index) isn't practical for nation-level inflation measurements.