The Cult of Inflation “Measurement” Walk into any macroeconomics classroom or tune in to an economics influencer online, and you’ll hear the same script: “Today we’re going to learn how to measure inflation.” The star of this show is the Consumer Price Index (CPI), followed by a supporting cast of other indexes. This language is so common nobody bothers to question whether “measuring” is even the right word. But if you look past the polite consensus, you’ll see that this is more semantic smoke and mirrors than genuine precision. What Measurement Actually Means Real measurement involves fixed, recognized units. You measure length in meters, weight in kilograms, current in amps. These standards don’t move around to suit political needs. Ask…
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