Inflation Quotes - Page 5

• Once the idea is accepted that money is something whose supply is determined simply by the printing press, it becomes impossible for the politicians in power to resist the constant demands for further inflation.

  Henry Hazlitt

  Ideas, Demand, Determined

  Henry Hazlitt (1971). “Man Vs. the Welfare State”, p.162, Ludwig von Mises Institute

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• Money, first and foremost, is a medium of communication, conveying the information we call 'price'. Government control of the money supply is censorship, a violation of the First Amendment. Inflation is a lie.

  L. Neil Smith

  Lying, Communication, Government

  "Tactical Reflections" by L. Neil Smith, www.lneilsmith.org.

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• Inflation has always been an important resource of policies of war and revolution and why we also find it in the service of socialism.

  Ludwig von Mises

  War, Important, Revolution

  Ludwig von Mises (2013). “The Theory of Money and Credit”, p.224, Skyhorse Publishing, Inc.

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• Inflation is essentially antidemocratic.

  Ludwig von Mises

  Ludwig Von Mises (1985). “Omnipotent Government: The Rise of the Total State and Total War”, Libertarian Press

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• I'm just opposed to a pure inflation-only mandate in which the only thing a central bank cares about is inflation and not employment.

  Janet Yellen

  Care, Employment, Central Banks

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• Sharp increases in the minimum wage rate are also inflationary. Frequently workers paid more than the minimum gauge their wages relative to it. This is especially true of those workers who are paid by the hour. An increase in the minimum therefore increases their demands for higher wages in order to maintain their place in the structure of wages. And when the increase is as sharp as it is in H.R. 7935, the result is sure to be a fresh surge of inflation.

  Richard M. Nixon

  Impact, Order, Gauges

  "Public Papers of the Presidents of the United States: Richard M. Nixon, 1973".

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• The advocates of public control cannot do without inflation. They need it in order to finance their policy of reckless spending and of lavishly subsidizing and bribing the voters.

  Ludwig von Mises

  Order, Needs, Voters

  Ludwig von Mises (2013). “The Theory of Money and Credit”, p.436, Skyhorse Publishing, Inc.

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• Invest in inflation. It is the only thing going up.

  Will Rogers

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• The Robert Mugabe school of economics provides a salutary warning about uncontrolled monetary expansion in generating hyper-inflation. The road to Harare is not as long as we might hope.

  Vince Cable

  School, Long, Expansion

  "Vincent Cable: Confiscating Savings From the Poor Is Stupid and Cruel". www.independent.co.uk. January 08, 2009.

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• The Federal Reserve Act as it stands seems to me to open the way to a vast inflation of the currency. I do not like to think that any law can be passed that will make it possible to submerge the gold standard in a flood of irredeemable paper currency.

  Henry Cabot Lodge

  Thinking, Law, Gold

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• It is very important to have a correct socio-economic development forecast and plan, in which inflation being a vital investment factor should be the key indicator

  Tatyana Golikova

  Keys, Important, Development

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• Worrying about inflation now is like worrying about the measles when you might get the plague.

  Kenneth Rogoff

  Worry, Might, Measles

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• They talk about the economy this year. Hey, my hairline is in recession, my waistline is in inflation. Altogether, I'm in a depression.

  Rick Majerus

  Years, Age, Hey

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• Most Americans are on a downward escalator. Median wage in the United States, adjusted for inflation, keeps on dropping.

  Robert Reich

  United States, Dropping, Escalators

  "Inequality for All: Robert Reich Warns Record Income Gap Is Undermining Our Democracy". "Democracy NOW!" with Amy Goodman, www.democracynow.org. September 13, 2013.

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• If we all had all we wanted to eat, we'd crap too much. We'd have inflation in the toilet paper industry.

  Jim Thompson

  Paper, Toilets, Wanted

  "The Killer Inside Me".

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• To try to cure unemployment by inflation rather than by adjustment of specific wage-rates is like trying to adjust the piano to the stool rather than the stool to the piano.

  Henry Hazlitt

  Piano, Trying, Unemployment

  Henry Hazlitt (2016). “The Failure of the "New Economics": An Analysis of the Keynesian Fallacies”, p.542, Pickle Partners Publishing

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• Although being economics editor sounds impressive, it does not mean I actually edit anything. It mainly reflects two decades of title-inflation at the BBC, which has given ever more status to senior reporters, presumably because it is cheaper to do that than to offer higher pay.

  Evan Davis

  Senior, Mean, Editors

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• We are now speeding down the road of wasteful spending and debt, and unless we can escape we will be smashed in inflation.

  Herbert Hoover

  Presidential, Debt, Economics

  Herbert Hoover (1938). “Addresses upon the American road”

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• In reality there is no such thing as an inflation of prices, relatively to gold. There is such a thing as a depreciated paper currency.

  Lysander Spooner

  Reality, Gold, Paper

  Lysander Spooner (1873). “A New Banking System: the Needful Capital for Rebuilding the Burnt District”, p.21

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• The real problem is deflation. That is the opposite of inflation but equally serious to the borrower.

  Jack Kemp

  Real, Opposites, Serious

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• For society to function some kind of reasonable balance has to be stuck between the competing interests of creditors and debtors. Although the mandate of the Bank of Canada was to maintain a delicate balance between encouraging growth and fighting inflation, the Bank opted to focus exclusively on fighting inflation. In doing so it came down heavily in favour of those with financial assets to protect, and against those whose primary need was employment.

  Linda McQuaig

  Fighting, Focus, Growth

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• I think the minimum wage ought to keep pace with inflation.

  Mitt Romney

  Thinking, Pace, Minimum Wage

  "Mitt Romney’s Pants Discovered on Fire" by Robert J. Elisberg, www.huffingtonpost.com. October 17, 1994.

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• [Australian Reserve Bank] Governor MacFarlane said recently when Paul Volcker broke the back of American inflation it's regarded as the policy triumph of the Western world. When I broke the back of Australian inflation they say, "Oh, you're the fellow that put the interest rates up." Am I not the same fellow that gave them the 15 years of good growth and high wealth that came from it?

  Paul Keating

  Years, Growth, Triumph

  "7:30 Report" interview, May 08, 2006.

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• We could, of course, always make the payments, simply by printing more money - we simply promise to pay people by giving them dollar bills - but that could set off inflation.

  Joseph Stiglitz

  People, Giving, Promise

  Source: www.washingtonpost.com

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• Inflation, especially a slow steady rise in prices, encourages producers, because it means that they can commit themselves to costs of production on one price level and then, later, offer the finished product for sale at a somewhat higher price level. This situation encourages production because it gives confidence of an almost certain profit margin.

  Carroll Quigley

  Mean, Giving, Cost

  Carroll Quigley (1966). “Tragedy and Hope: A History of the World in Our Time”, New York : Macmillan [c1966]

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