ࡱ> !# s jbjb kk] ,T  D[ǴBut alternative calculations produce different answersand different answers that are just as valid as the calculation in Historical Statistics. This divergence is the index-number problem. It is unresolvable: there is no single, unique, correct index that will tell you how much higher wealth of productivity is: it all depends on what you value, and what set of weights you choose to evaluate the different production possibilities of different eras. If you take the basket of goods and services that were produced a century ago as your set of weights for constructing your index of productivityif you average changes in prices over all the commodities they made then and that we made nowyou will find that your index of productivity today is about eight times what it was a century ago: an average worker today could buy with one hour's work the average bundle of things that an average worker of a century ago took eight hours to earn. z6k4 l4 / =!"#$% [4@4NormalCJOJPJQJmH <A@<Default Paragraph Font  Brad DeLong>Macintosh_HD:Website:TCEH:2000:But alternative calculations pr@Y @p@GTimes New Roman5Symbol3 Arial3Times"hzJBfzJBf!0YBut alternative calculations produce different answers and different answers that are just as valid as the calculation in Histo Brad DeLong Brad DeLong Oh+'0$8DT ht   'But alternative calculations produce different answersand different answers that are just as valid as the calculation in Histout  Brad DeLongradNormalL Brad DeLong1adMicrosoft Word 8.0c@@D3's@D3's ՜.+,0l hp  L'selfte But alternative calculations produce different answersand different answers that are just as valid as the calculation in Histo Title "Root Entry Fz_6r$1TableWordDocumentSummaryInformation(DocumentSummaryInformation8CompObjXObjectPoolz_6rz_6r FMicrosoft Word DocumentNB6WWord.Document.8