THE PURCHASING POWER OF THE WELL OFF.

THE PURCHASING POWER OF THE WELL OFF. A glance at the list of most e mailed stories in the New York Times will usually reflect the upscale nature of the Times’s target audience. (That audience is nothing like the target audience of the Financial Times’s HOW TO SPEND IT). This story reminded me of the explanation given by John Connally, Nixon’s Secretary of the Treasury, on why it was necessary to impose price controls: Connally had had breakfast the previous week at the Hotel Pierre in New York and was appalled at how much it had cost.