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capitalism, everybody
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this post was submitted on 12 Feb 2024
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CPI is not good either. Inflation can be fine for most citizens, when they have enough negotiating power to raise their wages with it. In that case it wipes out lenders. That happened in Weimar Germany after WW1, as the unions were strong enough to raise wages fast enough.
Imho something like Genuine Progress Indicator does a better job at measuring how well an economy is doing.
A measure stops being a good measure when it becomes a target.