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A comment on Summers: Inflation Reached 18% in 2022 Using the Government's Previous Formula. Parent comment

Re:Summers: Inflation Reached 18% in 2022 Using the Governme... by WA on Sunday April 14, 2024 @03:23AM (#40029323)
- People lived in way smaller houses back then.

- People had only one car.

- People ate meat once per week.

- People had way fewer things in their houses.

You gotta consider increases in material possessions as well if you want to calculate inflation properly.

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Re:Summers: Inflation Reached 18% in 2022 Using the Governme... by agensaequivocum on Sunday April 14, 2024 @10:00AM (#40031095)
No people ate more meat and animal products.

https://twitter.com/Outdoctrination/status/16948423262110437...

https://twitter.com/Outdoctrination/status/16948423228723817...

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Re:Summers: Inflation Reached 18% in 2022 Using the Governme... by tonymet on Monday April 15, 2024 @04:09PM (#40045022)
You're right, but it doesn't account for the entire loss in prosperity.

Prosperity was also growing 1880-1960 at at even faster rate, but inflation was much flatter.

We went from scarse food, horses, no telecomms, no planes, almost-no electricity, moderate running water to nearly modern conditions 1880-1960 with minimal inflation

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