However, this notion overlooks the deficiencies of asset prices as measures and indicators of future goods prices. An asset is a claim on future goods. So, in theory, the value of an asset today could be viewed as an indicator of prices that will be set in the future for the goods that the asset will purchase then.
But the reality of asset markets departs from this abstraction in several ways. First, not all assets like human capital and consumer durables have a market on which a price is formed. Furthermore, as we all know, asset price developments can be determined by market dynamics that have little to do with expectations of future goods prices.