Stagflation Quotes

My decision to leave applied mathematics for economics was in part tied to the widely-held popular belief in the 1960s that macroeconomics had made fundamental inroads into controlling business cycles and stopping dysfunctional unemployment and inflation.

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.

From the Great Depression, to the stagflation of the seventies, to the current economic crisis caused by the housing bubble, every economic downturn suffered by this country over the past century can be traced to Federal Reserve policy. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial 'boom' followed by a recession or depression when the Fed-created bubble bursts.

When I was younger, I remember families like mine who had to deal with the disastrous policies of the 1970s.

Britain in the 1970s was undoubtedly an economic mess because of the oil price explosion.

The stagflation of the 1970s blessed us with damaging wage and price controls and the utterly counterintuitive supply-side notion - famously drawn on a napkin - that cutting taxes would lead to higher tax revenues.

There's nothing in Keynesian economics that would allow you to solve stagflation. But there's nothing in neoclassical economics that would allow you to solve stagflation, either.

Inflation is not a benign element in the economy's operation. It is, as it has always been, the most dangerous and destructive form of taxation.

Inflation is an increase in the quantity of money without a corresponding increase in the demand for money, i.e., for cash holdings.

Inflation is the true opium of the people and it is administered to them by anticapitalist governments and parties.

Always inflation comes gradually; is recognized too late; and can be cured only by ruthless political surgery, which, if delayed too long, proves futile.

Rising prices or wages do not cause inflation; they only report it. They represent an essential form of economic speech, sincemoney isjust another form of information.

The United States has experienced high rates of inflation in the past and appears to be running the same type of fiscal policies that engendered hyperinflations in 20 countries over the past century.

Inflation is the fiscal complement of statism and arbitrary government. It is a cog in the complex of policies and institutions which gradually lead toward totalitarianism .

I find it funny that people who didn't think there was any inflation in the pipeline are now talking about stagflation. This is nothing like the 1970's, which was a pretty dismal period and not just because of polyester and disco.

Milton Friedman. Friedman had a solid MV = PQ doctrine from which he deviated very little all his life. By the way, he's about as smart a guy as you'll meet. He's as persuasive as you hope not to meet.

In fact, the wage-price spiral is the functional counterpart of unemployment. The latter occurs when there is insufficient demand; the spiral operates when there is too much and also,unfortunately, when there is just enough.

Inflation, being a fraudulent invasion of property, could not take place on the free market.

Inflation could be a very - is a likely consequence out of what's going on now.

The human capital of most macroeconomists, heavily invested in demand management, was wiped out by the policy failures of the 1970s.

Inflation is repudiation.

The '70s kind of sucked.

Although low inflation is generally good, inflation that is too low can pose risks to the economy - especially when the economy is struggling.