Good question

Commenter Dick King asks a question that deserves its own post:

More seriously, with bar codes and instantly reprintable memos and internet shopping, is the consumer as aware of inflation as he used to be?

I'm not sure. I noticed the new menu (and the price increase) because they'd taken the opportunity to remove some dishes that we'd always wanted to order, but never had because they were available only in a fasting season that mysteriously never seemed to arrive. But if not for that, I'm not sure I would have realized prices were rising.

Of course, at some level of inflation, even modern printing technology can't keep up; in some hyperinflationary economies, one hears about people trying to spend all their money in the morning, because prices will be higher come afternoon. And in the end, the effect on the consumer's budget will tell; one way or another, the books have to balance. So at best, it's a very temporary respite from inflationary expectations. But still an interesting question.

Presented by

Megan McArdle is a columnist at Bloomberg View and a former senior editor at The Atlantic. Her new book is The Up Side of Down.

Life as an Obama Impersonator

"When you think you're the president, you just act like you are above everybody else."

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register.

blog comments powered by Disqus

VIdeo

Life as an Obama Impersonator

"When you think you're the president, you just act like you are above everybody else."

Video

Things Not to Say to a Pregnant Woman

You don't have to tell her how big she is. You don't need to touch her belly.

Video

Maine's Underground Street Art

"Graffiti is the farthest thing from anarchy."

Video

The Joy of Running in a Beautiful Place

A love letter to California's Marin Headlands

Video

'I Didn't Even Know What I Was Going Through'

A 17-year-old describes his struggles with depression.

More in Business

Just In