Oh, fucking clown. Real product compensation is not a good measure of inflation or compensation as the average worker experiences it. This is just an over-educated attempt to sneak something in that most people won’t know what it means to make himself look clever while dunking on his enemies. Well I’m smarter than he is by far and here’s why it’s bunk.
RPC is based on the Producer Price Index, which is a measure of the price of what firms sell. The worker & family actually experiences inflation as the Consumer Price Index (or at least far closer to), which is rent, food, healthcare and all those essentials of living. So, check this out: if the price of making things rises faster than the CPI, real product compensation will make the worker look much better off even if their actual cost of living isnโt improving much at all.
In other words, as usual this econ is attempting to con you. After all, it’s right in the name of the profession. It’s what most of them are paid to do.
There’s about five other things wrong with this RPC way of measure this but I just don’t have time to write about them all. A clownish asinine dipshit is all this dude is. Should’ve gotten a real education somewhere, but probably doesn’t have the brain to handle it.