Paula Todhunter, Chapter 9, Question #6

One way of measuring economic progress that I found interesting was the way the Federal Reserve Bank of Dallas came up with. It focused on the amount of time one had to work in order to buy basic items and then they would compare that amount of time with others at different time periods. This method stood out to me, because it's really simple, but it makes a lot of sense to measure progress like this. Also I've heard my dad tell me so many times that when he was a kid, his mom would give him a dollar to go buy bread and he could not only buy the bread but he could also get a treat for himself with the left over change. This method kind of reminded me of that, because just because bread costs more doesn't necessarily mean there's no progress. Now it probably takes less work time to earn enough money to buy bread.