Notables and Quotables
Inflation
“Lenin was certainly right: there is no subtler, no surer means of overturning the existing basis of society than to debauch the currency.”
- John Maynard Keyes, British Economist
“The more distant your financial target, the longer inflation will gnaw at the purchasing power of your money.”
- Suze Orman, American Financier
“Mere inflation may look like the creation of more demand. But in terms of the actual production and exchange of real things, it is not.”
- Henry Hazlitt, American Journalist
“The inflation that comes inevitably with government pump-priming soon catches up with the laborer and wipes away any real increase in his wages… And so it is that the ‘long run’ is very soon a-coming.”
- William F. Buckley Jr, American Author
“I was reading in the paper today that Congress wants to replace the dollar bill with a coin. They’ve already done it. It’s called a nickel.”
- Jay Leno, American Comedian
“Inflation is taxation without legislation.”
- Milton Friedman, American Economist
“The millions one always wanted are suddenly there in one’s hand, but they are not millions in fact, but only in name.”
- Elias Canetti, German Author
“Inflation consists of subsidizing expenditures that give no returns with money that does not exist.”
- Jacques Rueff, French Economist
“Inflation is when you pay fifteen dollars for the ten-dollar haircut you used to get for five dollars when you had hair.”
- Sam Ewing, American Baseball Player
“It is a way to take people’s wealth from them without having to openly raise taxes. Inflation is the most universal tax of all.”
- Thomas Sowell, American Economist
“Inflation is the parent of unemployment and the unseen robber of those who have saved.”
- Margaret Thatcher, British Politician
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