Posted by Jay Livingston
Inflation or deflation – which is the greater cause for concern? Maybe your answer depends on your relation to the means of producing the New York Times – are you a writer or a reader?
On Friday, Paul Krugman wrote:
Suddenly it seems as if everyone is talking about inflation. . . .But does the big inflation scare make any sense? Basically, no . . .. Deflation, not inflation, is the clear and present danger.When I went to buy the paper Monday to see Krugman’s next column, the newsstand price had risen by 33% – from $1.50 to $2.00. (The increase, equal to the price of New York’s other two dailies, means that the Times price is 300% that of the Daily News or Post.)