> it makes sense to me that they would be up and to the right-only. Humans are better off now than they were decades ago: we build more stuff, we have more power/energy at our disposal, we have more efficient technologies.

yes, or, and I can't believe _I'm_ saying this, the money unit is evaporating. And because we know both of those things are happening at once, we can't separate out what's real and what's accurate representation anymore

denlillaapan

 indexes like the S&P or the Dow are moderately accurate representations of "the economy," it makes sense to me that they would be up and to the right-only. Humans are better off now than they were decades ago: we build more stuff, we have more power/energy at our disposal, we have more efficient technologies.

What I don't believe is that such indexes actually 

 accurate representations of the economy. It seems to me that the basket of companies represented in them is highly political, so in that sense, it's pretty surprising that it goes up as time goes by.

econ

The Money Is Broken but Pumpamentals Continue (FT, Robert Armstrong)

*If* indexes like the S&P or the Dow are moderately accurate representations of "the economy," it makes sense to me that they would be up and to the right-only. Humans are better off now than they were decades ago: we build more stuff, we have more power/energy at our disposal, we have more efficient technologies. 

What I don't believe is that such indexes actually *are* accurate representations of the economy. It seems to me that the basket of companies represented in them is highly political, so in that sense, it's pretty surprising that it goes up as time goes by.