"Gary R Coffman" wrote in message
...
On Thu, 14 Aug 2003 12:24:37 GMT, "Ed Huntress"
wrote:
Well, then, examine it in constant dollars, Gary. The real GNP in
constant
dollars didn't decline over that period, either. The DoC figures are
available in both current and constant dollars.

In constant dollars (1982), average household income increased by
72.78% from 1964 to 1980. But during that same time, constant
dollar household costs (excluding energy costs) increased by 312%.

What do you mean by "constant dollar household costs"? I'm not familiar with
that stat. Are you talking about household *expenditures*? If so, how does
that relate to "costs"?

Or are you talking about inflation?

I'll address the rest of this when I understand what you mean here.
Meantime, if you want a mainstream explanation of the '70s inflation (which
sounds like what you're talking about), you can find one at:

http://econ161.berkeley.edu/Econ_Art...ionofthes.html

Ed Huntress