Official inflation numbers are based on a basket of goods that are thought to be representative for the purpose of broad economic policy.
But it's certainly true that inflation is not the same for all goods or for the basket that is highly relevant to one person or to one firm or industry.
So like any economic policy it has winners and losers. Just because the policy may be reasonable does not mean that the winners and losers are irrelevant.
During the startup boom many developers saw their wages inflating rapidly in spite of little skill growth. Some also saw their rent increasing if they lived in the bay area.
Landlords in the bay area saw their income increasing, and firms hiring developers in the bay area saw the cost associated with wages inflate rapidly.
The mistake this article makes is that it puts all its eggs into the young vs old theme when really this is a fairly obvious consequence of a dynamic economy.
But it's certainly true that inflation is not the same for all goods or for the basket that is highly relevant to one person or to one firm or industry.
So like any economic policy it has winners and losers. Just because the policy may be reasonable does not mean that the winners and losers are irrelevant.
During the startup boom many developers saw their wages inflating rapidly in spite of little skill growth. Some also saw their rent increasing if they lived in the bay area.
Landlords in the bay area saw their income increasing, and firms hiring developers in the bay area saw the cost associated with wages inflate rapidly.
The mistake this article makes is that it puts all its eggs into the young vs old theme when really this is a fairly obvious consequence of a dynamic economy.