Famous Quotes & Sayings

William Beveridge

There is no inherent mechanism in our present system which can with certainty prevent competitive sectional bargaining for wages from setting up a vicious spiral of rising prices under full employment.

Janet Yellen

My bottom line is that monetary policy should react to rising prices for houses or other assets only insofar as they affect the central bank's goal variables - output, employment, and inflation.

Ludwig von Mises

Government policies try to prevent the emergence of serious unemployment by credit expansion, i.e., inflation. The outcome was rising prices, renewed demands for higher wages and reiterated credit expansion; in short, protracted inflation.