Comments on: Adventures in financial literacy, Mint.com edition http://blogs.reuters.com/felix-salmon/2010/07/01/adventures-in-financial-literacy-mint-com-edition/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: SteveHamlin http://blogs.reuters.com/felix-salmon/2010/07/01/adventures-in-financial-literacy-mint-com-edition/comment-page-1/#comment-16339 Thu, 01 Jul 2010 20:05:02 +0000 http://blogs.reuters.com/felix-salmon/?p=4526#comment-16339 Prof. Mark Perry at the “Carpe Diem” econo-blog has some good posts on the topic – he looks at things like number of U.S. labor hours required to purchase semi-equivalent items over large time frames, or the percentage of income spent on food, clothing and housing over time.

His very interesting point, obvious once pointed out, is that while many (including me) complain about stagnant wages, declining middle class, etc., we fail to remember that lower income folks this country today have luxuries that the rich didn’t have just a generation or two ago. That doesn’t mean that growing income disparities are a good thing, but does remind that a rising tide floats most boats.

http://mjperry.blogspot.com/2010/06/good -old-days-are-now_22.html

http://mjperry.blogspot.com/2010/06/good -old-days-are-now.html

http://mjperry.blogspot.com/2009/11/good -old-day-are-now-its-getting-better.html

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By: TinyOne http://blogs.reuters.com/felix-salmon/2010/07/01/adventures-in-financial-literacy-mint-com-edition/comment-page-1/#comment-16337 Thu, 01 Jul 2010 19:29:41 +0000 http://blogs.reuters.com/felix-salmon/?p=4526#comment-16337 reminds me of your reporting on Abacus and the infamous David Mamet flashback quote.

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By: strawman http://blogs.reuters.com/felix-salmon/2010/07/01/adventures-in-financial-literacy-mint-com-edition/comment-page-1/#comment-16335 Thu, 01 Jul 2010 19:03:21 +0000 http://blogs.reuters.com/felix-salmon/?p=4526#comment-16335 I think it’s fairly useful to compare real prices in products. Actually, in most situtaions it’s actually more helpful when you inflation control prices. You get a feel for the changing distribution of spending, and a better model of how production improvements, subsidies, or taxes have altered the cost of some goods.

But, of course, Mint.com has reached a new height of idiocy by attempting to put this information under the headline “What Inflation?” Had they led with, “What Expensive Stuff?” it might have been remotely useful.

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By: Brennan http://blogs.reuters.com/felix-salmon/2010/07/01/adventures-in-financial-literacy-mint-com-edition/comment-page-1/#comment-16329 Thu, 01 Jul 2010 17:54:03 +0000 http://blogs.reuters.com/felix-salmon/?p=4526#comment-16329 Wouldnt ti be more interesting ot measure inflation of prices vs. wages? Instead of inflation of prices, compare to (various forms of) wage inflation. After all, I dont so much care that CD’s cost 7% less, I care about fraction of income.

Of course some sort of adjustments have to be made (hedonic or otherwise): things get better, or at least change.

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