Originally posted by Metal Brain
If I bought 100 pounds of hamburger would you buy 100 pounds of steak and trade me for it?

Fair trade?

This has exactly what to do with the CPI?

Originally posted by no1marauder
This has exactly what to do with the CPI?

Steak costs more than hamburger

Originally posted by Metal Brain
Steak costs more than hamburger

And? What does that have to do with percentage changes in overall price levels which is what the CPI is designed to measure?

Originally posted by no1marauder
And? What does that have to do with percentage changes in overall price levels which is what the CPI is designed to measure?

That is just one example. You didn't read the article did you?

Originally posted by Metal Brain
That is just one example. You didn't read the article did you?

Yes I did. It's a blog piece by an anonymous contributor who doesn't seem to understand economics much. He makes a number of claims but offers no evidence to support them. Of course, we can't trust the government's figures (because of the evil conspiracy) but it would be nice if he gave some credible source for the figures he gives regarding the supposed difference between the CPI figures under the prior method and those under the adjusted ones. Moreover it would also be nice if he made some sort of reasoned argument why changes in consumer spending patterns shouldn't change the composition of the basket used to determine the CPI.

Or you could if you desire.

Originally posted by Bosse de Nage
OK. http://rationalwiki.org/wiki/Austrian_school

Why does this nonsense have such a strong grip on people equipped with brains?

It doesn't.

Originally posted by KazetNagorra
It doesn't.

That depends. Austrian school economics isn't held in much regard by leftists or collectivists, but is supported by believers in Markets and individual liberty.

Originally posted by KazetNagorra
Your argument reminds me of religious people's objections to evolution. "I have found perceived minor flaw in the theory X, therefore wild and completely unfounded assumptions A, B and C must be true". Of course, libertarianism and Austrian School economics being religious cults, the analogy is more than appropriate.

"libertarianism and Austrian School economics being religious cults"

Differing with various forms of Statism, Keynesian economics, central planning and evolution how?

Originally posted by no1marauder
Yes I did. It's a blog piece by an anonymous contributor who doesn't seem to understand economics much. He makes a number of claims but offers no evidence to support them. Of course, we can't trust the government's figures (because of the evil conspiracy) but it would be nice if he gave some credible source for the figures he gives regarding the s ...[text shortened]... tion of the basket used to determine the CPI.

Or you could if you desire.

Maybe the New York Times is an acceptable source for you.

http://www.nytimes.com/2011/03/29/business/29shrink.html?pagewanted=all&_r=0