I think we 80% agree: people should use a measure of inflation that includes more asset inflation than CPI. The American Dream was not to Owner's Imputed Rent a house. However, there's a balance to be struck with reasonable expectations, and "I want to own an increasing fraction of the world economy" isn't a reasonable expectation for everyone to have, but that's what jumping to a wholesale asset inflation measure would get you. The way I pick a midpoint is by fixing the asset: one lump of gold, or one house, are reasonable to use as reference points. But not "one billionth of the revenue from the search monopoly" or "one billionth of all newly mined gold" because those things might be expected to grow without robbing me of anything I care about.