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Quick Edit | Prisoner’s dilemma

Quick Edit | Prisoner’s dilemma
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First Published: Mon, Jul 11 2011. 11 32 PM IST
Updated: Mon, Jul 11 2011. 11 32 PM IST
An inflation forecast is usually innocuous, though often wrong. But the Argentinian regime is reacting to them with a bizarre sense of paranoia, by filing criminal charges against an economics consulting firm that has said that the government has underestimated local inflation for more than four years in its official reports. Some reports suggest this is the latest in a series of moves to persecute economists.
This comes after the Chinese government had an Orwellian moment in May, fining Anglo-Dutch multinational Unilever for announcing that it would soon raise product prices. Beijing believed such announcements would lead to panic buying and a setback in its battle against rising prices.
Burning economists and corporate executives at the stake is not exactly a sensible way to tackle the scourge of high inflation. The underlying cause is always an explosion in money and credit growth.
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First Published: Mon, Jul 11 2011. 11 32 PM IST