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Local price changes aren't inflation

noahpinion.substack.com

6 points by rhyswallace 5 years ago · 2 comments

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rhyswallaceOP 5 years ago

Tried to post the original piece's title. Appears HN removes the "Your" from the title upon posting?

cyanydeez 5 years ago

inflation is empirically defined as a change in price of a basket of goods.

theres no intrinisic locality in this, so it doesnt matter what scale its applied at.

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