How afraid should we be about inflation? Via a nice post from Ezra Klein, I see Daniel Gross has a Slate column parsing the arguments between Paul Krugman and Niall Ferguson. Krugman wrote a column last week suggesting the inflation scare was in part a Republican conspiracy, and Ferguson devoted an FT column to settling a debate he had with Krugman on a panel in New York. (Yikes.) What's the controversy? From Gross: