John Kenneth Galbraith Quotes About Inflation

Quotes about: Inflation

• No politician can praise unemployment or inflation, and there is no way of combining high employment with stable prices that does not involve some control of income and prices. Otherwise the struggle for more consumption and more income to sustain it-a struggle that modern corporations, modern unions and modern democracy all facilitate and encourage-will drive up prices. Only heavy unemployment will then temper this upward thrust. Not many wish to confront the truth that the modern economy gives a choice only between inflation, unemployment, or controls.

  John Kenneth Galbraith

  Struggle, Giving, Choices

• Inflation does not lubricate trade but by rescuing traders from their errors of optimism or stupidity.

  John Kenneth Galbraith

  Errors, Optimism, Stupidity

  John Kenneth Galbraith (2017). “Money: Whence It Came, Where It Went”, p.15, Princeton University Press

• A very complicated mass of things influences the economy - the speculative effect, government policy, consumer borrowing and spending, the level of technical innovation (which I concede, although everyone emphasizes it too much), and much more - including, of course, the rate of inflation.

  John Kenneth Galbraith

  Government, Innovation, Too Much

  Source: progressive.org

• Nothing so weakens government as persistent inflation.

  John Kenneth Galbraith

  Government, Economics, Inflation

  "The affluent society".

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