I found this very painful to read, it's painfully slow to get to the point...actually, it doesn't even answer the question posed in the title.
> Just as we need to adjust for price inflation, accounting for non-market sources of income is an essential part of making meaningful welfare comparisons over time.
The article never says how they account for non-market sources of income, i.e. those things without a price. I'm sure there's a dozen links to various papers, but I expect the question posed in the article to be answered in the article, rather than be fobbed off with pat tautologies such as "historians know about history"!
They actually do. He describes in detail how agricultural production is estimated using historic data in farmland, yields and how it is painstakingly adjusted per region. In other words the tedious work needed to actually do this.
> Just as we need to adjust for price inflation, accounting for non-market sources of income is an essential part of making meaningful welfare comparisons over time.
The article never says how they account for non-market sources of income, i.e. those things without a price. I'm sure there's a dozen links to various papers, but I expect the question posed in the article to be answered in the article, rather than be fobbed off with pat tautologies such as "historians know about history"!