Eric Balkan

Why Inflation Is Lower Than You Think

The Leonhardt article is moronic. It simply confuses quality of life with inflation. If you buy an apple today, and it costs 10% more than an apple you bought last month, but tastes twice as good, your quality of life has increased, but your cost of living has not decreased. You're now spending more on apples than you did before. The only way inflation would not increase in this case is if you could go still back to the store and buy the same apples you bought last month at the same price.