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Comment by smallmancontrov

44 minutes ago

No, the "averages smear out details" problem is completely separate to the core accusation I made and much less interesting. My accusation -- which you completely failed to address -- is that CPI systematically fails to account for forced substitution, introducing a systematic downwards bias that forces "real" incomes to rise over the long term as a direct result of the solvency constraint on individuals rather than improved access to goods and services in the economy.