W. Edwards Deming Quotes

One man's wage increase is another man's price increase.

I just get the same stuff as I did before, but the price tag is much higher.

When the commodities go up and the cost of transportation is going up, and the value of the dollar is going down, it's all going to translate to an 8 to 10 percent rise in food prices.

Raising the minimum wage represents a substantial financial burden for employers, particularly start-ups, early stage companies, and family-owned businesses. In response, business owners would be forced to either lay off workers or raise prices to offset the rise in labor costs.

Inflation is when you pay fifteen dollars for the ten-dollar haircut you used to get for five dollars when you had hair.

With the shrinking of the US economy, and it's shrinking very rapidly, you not only have more money, but you also have fewer goods. That's a classic double-whammy on inflation.

My wife and I decided to try and kick start our kitchens to a $15 minimum wage for cooks. I've probably had to go through and raise every menu price now by 50 cents because it took away my profit. I just underestimated what it was going to cost.

We now have the worst of both worlds – not just inflation on the one side or stagnation on the other side, but both of them together. We have sort of “stagflation” situation.

An industrialist's answer [to inflation] is to charge more for his product to the public, never to cut his own profits. Labor's answer is even more natural. Since the worker would have to change his entire mode of life, labor asks for higher wages to cover the higher expenses.

Under the guise of fighting inflation, COLA actually creates it.

I'm a small businessman and I'm well aware of the uncertainties of the economy, exactly what the 'inflationary spiral' means when I'm forced to raise prices to my customers, and how taxes can eat into your earnings.

I have no issue with raising minimum wage, but then the customer can't say to us, 'Why are you raising your prices?'

Tariffs would mean prices going up, and customers don't want higher prices.

All businesses tend to pass costs onto customers.

I do not support raising the minimum wage, and the reason is as follows. When the minimum wage is raised, workers are priced out of the market. That is the economic reality that seems, at least so far, to be missing from this discussion.

Higher productivity enables companies to increase sales without adding workers. Even if job markets tighten and wages rise, corporate profits can continue to climb as long as worker productivity is growing faster than overall wages.

There can be no rise in the value of labour without a fall of profits.

Sector-specific price declines, uncomfortable as they may be for producers in that sector, are generally not a problem for the economy as a whole and do not constitute deflation.

Inflation is not always the main problem, or indeed a problem at all. Sometimes, though rarely, deflation is a more serious threat, and we need to shelve many of the orthodoxies we have held so dear.

In addition to joblessness, of course, by the working of supply and demand, when you have a larger number of people unemployed, wages do not rise at the normal level, so that we had last year a drop in real wages.

This continuing spike in gas prices is bad for consumers, bad for our economy, and bad for all other businesses. It is hurting us and costing us jobs.

If cheap immigrant labor is made unavailable, employers can hire Americans at a higher wage, or replace low-wage immigrant workers with technology and automation, which will create a smaller number of skilled jobs for Americans.

A rise of wages from this cause will, indeed, be invariably accompanied by a rise in the price of commodities; but in such cases, it will be found that labour and all commodities have not varied in regard to each other, and that the variation has been confined to money.

A rise in wages, from an alteration in the value of money, produces a general effect on price, and for that reason it produces no real effect whatever on profits.

Deflation is defined as a general decline in prices, with emphasis on the word 'general.'