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Measuring economic progress requires an accurate measure of inflation. But measuring inflation is harder than you might think because rapid changes in quality often aren’t taken into account. When goods and services improve rapidly over time, it is more likely that inflation will be overestimated and changes in the standard of living will be underestimated. For more, click here: http://bit.ly/NumbersGame4 Additional Sources: Read “Do the Rich Get All the Gains from Economic Growth?” by Russ Roberts. Available here: https://bit.ly/2CJv5CX Watch Episode 1 of the Numbers Game: • The Numbers Game: How's The Middle Class D... Watch Episode 2 of the Numbers Game: • The Numbers Game: The Paradox of Household... Watch Episode 3 of the Numbers Game: • The Numbers Game: Do The Rich Get All The ... Russ Roberts hosts EconTalk with guest Richard Burkhauser of Cornell University and talks about the state of the middle class, available here: http://bit.ly/2x3Seuw Read “What Do Economists Actually Know?” by Russ Roberts, available here: http://bit.ly/2yvCQbF Visit https://www.policyed.org/ to learn more. Subscribe to PolicyEd's YouTube channel: http://bit.ly/PolicyEdSub Follow PolicyEd on Twitter: http://bit.ly/PolicyEdTwit Follow PolicyEd on Instagram: http://bit.ly/PolicyEdInsta