Eric Weinstein

@EricRWeinstein ↗

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Last Checked Nov. 22, 2022

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Sun Nov 06 16:05:39 +0000 2022

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Eric Weinstein @EricRWeinstein

Q2: Why is inflation a field on LOOP spaces of preferences? A2: Tastes are seasonal. In USA “We never spill Egg Nog on our bikinis.” What you both want & price HAS to be made seasonal to avoid the Cycling Problem (Holonomy) in index number thy. So we have LOOPS of tastes/prices. — PolitiTweet.org

Posted Nov. 6, 2022

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Eric Weinstein @EricRWeinstein

Q1: Why is it a field on Preferences? A1: Because a true COLA is not an index on baskets (mechanical index) but on welfare derived from baskets (economic index). BLS misrepresents CPI being COLA-driven abusing work of Erwin Diewert on Superlative indices. A COLA prices WELFARE. — PolitiTweet.org

Posted Nov. 6, 2022

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Eric Weinstein @EricRWeinstein

A2 Continued: If you don’t make loops of tastes and prices, you will show meaningless regular inflation if prices, quantities and tastes Circle back to their initial Jan 1 values. This confuses economic experts (Like Diewert) when it comes to chain/path indices…which is up next. — PolitiTweet.org

Posted Nov. 6, 2022