Interesting Urban Links

We know that the CPI doesn't account for the fact that different income groups consume different bundles of goods.   If you are concerned about the CPI for the rich (and hence the true purchasing power for the 1%) then you should read this article about private school tuition prices in NYC.  Economists have documented that the rise of Walmart and Chinese exports has lowered the prices of many durables we consume.  But, what about the prices for goods that the rich disproportionately consume?  We know that the quality adjusted prices of private jets have declined.   But, the rich now face higher private school prices and lower probabilities of their children being admitted into these schools and Ivy League schools.  OWS needs some economists on payroll to calculate real wage inequality.

In other urban news, David Lee Roth provides a detailed interview about Van Halen in today's LA Times.  He is a wise man.