Frontiers of Price Indexing or Product Placement?

“Let them eat iPad.” That was the cry Friday after William Dudley, head of the Federal Reserve Bank of New York, acknowledged to an audience in Queens, N.Y., that food prices had gone up before adding that some prices are lower. “Today you can buy an iPad 2 that costs the same as an iPad 1 that’s twice as powerful.”

Barley, Richard. 2011. “Comedy Fit.” Wall Street Journal (12-13 March): p. B 18

1 comment so far

  1. John on

    I always hear right-wingers argue that because they see poor people with iPods, that means that they are not really poor. I guess it is a less extreme version of the argument that poor Third World people aren’t really poor because some of them apparently own satellite dishes.

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