Muted that thread. You can read what I think here.
"The late great economist Fred Lee liked to say 'all economic theory is product specific and price specific' This means that a theory can only coherently explain the behavior of individual products and prices and
https://www.crisesnotes.com/are-general-price-level-indices-theoretically/
"The late great economist Fred Lee liked to say 'all economic theory is product specific and price specific' This means that a theory can only coherently explain the behavior of individual products and prices and
https://www.crisesnotes.com/are-general-price-level-indices-theoretically/
Comments
Disentangling price changes from changes in index composition is vitally important in basically all areas