It's too bad there's no objective measure of value. That would make calculating CPI so much easier, instead of picking an arbitrary year and declaring it the standard of measure.
@stevengiuseppetti6555
2 сағат бұрын
This is a pretty good video but its missing some key points imo. It assumes social security scales up with inflation but realistically thats not true at all. In 2023 and 2024 many of the covid era programs that allowed low income people to survive went away completely despite prices increasing more than ever. The Affordable Connectivity Program which provided applicants up to $30 a month discount off of internet bills didnt increase with prices but instead it went away completely. Food stamps aka SNAP programs had a major decrease this year after they took away the covid era increases. That means that despite prices for food increasing 20% over the past 4 years, food stamps actually stayed the same or decreased depending on when you signed up. That directly contradicts the statement that social services scale up with prices. The video also fails to compare cost of living increases since the 80s with wage increases and real wage growth. It could also show productivity compared to wage growth to show how wages used to scale up with productivity increases but thats no longer the case. All of these things add up to not just typical inflation and price increases but instead a more accurate picture of the economic crisis we're in with basic necessities being unaffordable for most people.
@danielallard6879
2 сағат бұрын
While the problems you highlight a current and important you are missing the key purpose of this video. It is not, a video essay on highlighting the failures of the system we use and why they come to be. Rather it is a video system on what exactly that system is. This is a lesson in microeconomics, what you are highlighting is a situation discussed by actual economics and doesn't fit right in a video of this nature. It actually give the tools to begin understanding what you discuss and develop your own opinions and solutions based of factual implementations of economics.
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