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> Inflation. What paying workers costs.

GDP without qualification is 'real GDP', not 'nominal GDP', i.e it's already adjusted for inflation. I agree that costs need be adjusted for inflation



> GDP without qualification is 'real GDP', not 'nominal GDP' i.e it's already adjusted for inflation.

Nah.. I can't intuit what you are thinking or arguing. But I already addressed much more than you responded to. e.g.:

> > Inflation is misleading for these purposes, too, because it includes hedonic adjustments. So a new better procedure or bigger apartment costing 40 pc more might only be 10 pc higher from an inflation point of view, even though you can’t really buy the old one.




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