Deflation of Complete Systems

It is not only commodity (lows that reflect in their value development the change of the purchasing power of money over time. The same is true with respect to non-commodity flows. However, those flows do not have price indexes of their own with which to correct for changes in the purchasing power of money. Hence if their value development is to be so corrected, it has to be done with some specially selected price index which is deemed to be appropriate for the purpose. Opinions as to which index will be most suitable for the purpose are liable to differ, because in the last resort, the choice of index is an arbitrary one. However, there are a number of considerations that may reasonably be brought to bear on that choice