The item is the medium. The metric is the formula used to determine the currency's value. Sounds like someone doesn't understand the CPI. That's *yawn*... not surprising.No, it doesn't, it is using a single item price point.
You are moving the goalposts. I am not arguing that U.S. manufacturing as a % of GDP is high, so trying to make it the focal point of your response is questionable.In monetary terms, manufacturing output is very high, but as a portion of GDP it's very low.
It is referred to as economic convergence. Industrialization just happens to be the particular path.Manufacturing is on a global decline, but America is really losing ground on this particular area.
It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
"Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911
Hon....PPP is not CPI, single data point is not CPI, the effect of value added taxes are not part of CPI, the effect of differing levels of inflation between countries is not in the CPI.....but all of those items are in the BMI.The item is the medium. The metric is the formula used to determine the currency's value. Sounds like someone doesn't understand the CPI. That's *yawn*... not surprising.
But you go on with your beloved BMI, I won't stop you.