I recently asked: Does Nation Media Group have an Economics Editor? This was not a pedestrian question. My motivation was that the media house makes unforced errors in matters basic economics.
In today's Business Daily, the lead story talks about inflation tax. The author talks about how proposed tax measures on financial services and consumer goods will lead to inflation. It is an accurate report, only that it does not amount to inflation tax, which is a technical word that means something else.
Am I splitting hairs? No. Instead I am illustrating how the pursuit of sounding informed by the media house often results in embarrassing inaccuracies.
If the report was about government measures that have an implication of raising medium term inflation, which then erodes the value of money - or bonds - it would be accurate.
Moral of the story: modesty - of words - is a virtue.
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