Let them eat cake

I’m back from a trip to Stockholm (this is a picture take from the Old Town near sunset):


For some reason I was thinking again about using the chained CPI for Social Security and how it relates to Marie Antoinette’s famous saying “Let them eat cake”. The idea behind chained CPI is that people will switch the types of things they buy as prices change–if beef gets expensive then buy chicken for example (the problem for those on Social Security is that there is no replacement for many of the things they need, such as medicine). The old saying by Marie was a similar idea–if there is a shortage in bread, then people can just eat cake (cake to her would have meant something closer to bread). I then went to find the quote to link to it and found that Marie Antoinette most likely did not say ‘Let them eat cake’ at all, she actually was moved by the plight of the poor. Thus it turns out that all those people pushing chained CPI for Social Security have less empathy for the poor than Marie Antoinette.

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