The public policy blog of the American Enterprise Institute

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Discussion: (4 comments)

  1. Dave Onkels

    Microprocessor prices have been pretty stable, but prices for video memory, desktop and laptop in-line memory modules, and especially for flash memory, have dropped rapidly.

    Thumb drives (I just purchased a 64 GB USB 3.0 very fast thumb drive for less than thirty dollars) have all but replaced optical media for applications like the transfer of large files. Those transfers also occur in the cloud, suggesting that technical progress is occurring but is not reflected in the statistics.

  2. Benjamin Cole

    Right-wingers are nuts (I am in this group) and here is another reason:

    Right-wingers say we are radically underestimating real income and wealth, and thus wildly underestimating real income gains in the middle class. The middle class has it great, stop sniveling. This suggests a huge overcount of inflation.

    But right-wingers are also hysterical about the CPI, and that it is “underestimating” inflation.

    I realize the right-wing is not a monolith…but even within the AEI website, you can find both sentiments….

  3. Seems to me that Facebook economic activity is counted. The reason the account is free is because it is paid for with advertisement. If you assessed some additional economic charge because you can use the account “for free” you would be double counting.

    An older example should advertising based TV be counted twice in the economic numbers because I can watch it for free – or should we just count the advertising revenue?

    1. FM radio would be a better example. We get value but pay nothing. Should Old Tech FM radio be counted twice in the economy? Of course we do pay by listen to adds just as we are inundated with adds on Facebook.

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