42sec snip

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16: Tyler Cowen - The Revolution Will Not Be Marginalized

The Portal

NOTE

Comparing Prices across Decades

Comparing prices over multiple decades is a complex task due to impossibility theorems in aggregating price industries over time. People tend to prefer spending money in the current year than in previous periods, indicating radical deflation. However, in the long term, the comparability of prices fades away and calculations become influenced by intransitivity.

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