Saturday 4 March 2017

"Inflation: Both Sides Have a Point"

What comes to your mind when you read the Business Daily's Friday 3, 2017 splash about how poor households are skipping meals in order to beat inflation? What was the essence of seeking the views of the Chris Kirubi and Donald Kipkorir?

This is what the duo had to say.

Kirubi: "It's the small people that the government needs to step in and cushion from rising costs".

Kipkorir: "I even don't know the price of fuel, food and such. I am never bothered by these price changes as they don't affect me".

When I saw the quotes attributed to the duo, I couldn't help but recall a column written by Economist Paul Krugman nearly 17 years ago in the New York Times where he said thus:

"If a presidential candidate were to declare that the earth is flat, you would be sure to see a news analysis under the headline "Shape of the Planet: Both Sides Have a point".

In other words, the story above was looking for balance in giving  the duo a chance to gloat about why the inflation thing is not about them - I naively used to imagine that business people need a stable operating environment as assured by low and stable inflation!

Crazy!


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