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Goodbye Inflation, Hello Recession?

By Ilene
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Goodbye Inflation, Hello Recession?

By Paul Krugman, NY Times 

Long ago I studied international economics with the great Charles Kindleberger, famous not just for his insights but also for his bon mots. One line I took to heart — he was talking about the balance of payments, but it applies equally well to many subjects in economics — was that people always want a single number, but what they really need is a story.

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