India, Nov. 2 -- We hear the word "inflation" and think of prices (of food, fuel, medication, rent). But inflation's reach goes far beyond markets, and can seep into how we measure worth itself. Titles, grades, even achievements may have started to expand more rapidly than substance. Think of college admission cut-offs and the trend becomes instantly clear. Let's start there. In my year, the Andhra state board Class 10 topper scored 546 on 600. With a score of 536, I ranked ninth. Three decades on, this year's Class 10 topper scored 600 on 600. Cut-offs for Delhi University often hover near perfection. Are students dramatically smarter, or have we tampered with the scale? Grade inflation works the way price inflation does: when too many top...