One escape route from this negative conclusion is to argue, once again, that progress is being understated because quality improvements and new goods are not being adequately captured in the statistics. That would mean that inflation is being overstated, because some of the increase in prices comes from better things, not just from dearer things. If so, the poverty line is being increased too fast, and an ever-increasing proportion of the poor are not poor at all. If.
-Angus Deaton
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