A Quote by Henry Hazlitt
Inflation makes the extension of socialism possible by providing the financial chaos in which it flourishes. The fact is that socialism and inflation are cause and effect, they feed on each other!
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Because food and energy prices are volatile, it is often helpful to look at inflation excluding those two categories - known as core inflation - which is typically a better indicator of future overall inflation than recent readings of headline inflation.
Either the USSR was not the country of socialism, in which case socialism didn't exist anywhere and doubtless, wasn't possible: or else, socialism was that, this abominable monster, this police state, the power of beasts of prey.
Whether considered as a doctrine, or as an historical fact, or as a movemement, socialism, if it really remains socialism, cannotbe brought into harmony with the dogmas of the Catholic church.... Religious socialism, Christian socialism, are expressions implying a contradiction in terms.
Models used to describe and predict inflation commonly distinguish between changes in food and energy prices - which enter into total inflation - and movements in the prices of other goods and services - that is, core inflation.
What precisely is this disease that causes inflation and all these other troubles? It has many popular names, such as socialism, communism, state interventionism, and welfare statism.
What people today call inflation is not inflation, i.e., the increase in the quantity of money and money substitutes, but the general rise in commodity prices and wage rates which is the inevitable consequence of inflation.
This much I would say: Socialism has failed all over the world. In the eighties, I would hear every day that there is no inflation in the Soviet Union, there is no poverty in the Soviet Union, there is no unemployment in the Soviet Union. And now we find that, due to Socialism, there is no Soviet Union!
The most important thing to remember is that inflation is not an act of God, that inflation is not a catastrophe of the elements or a disease that comes like the plague. Inflation is a policy.
Inflation has always been an important resource of policies of war and revolution and why we also find it in the service of socialism.
Everything brought forward in favor of Socialism during the last hundred years, in thousands of writings and speeches, all the blood which has been spilt by the supporters of Socialism, cannot make socialism workable.
There is no such thing as agflation. Rising commodity prices, or increases in any prices, do not cause inflation. Inflation is what causes prices to rise. Of course, in market economies, prices for individual goods and services rise and fall based on changes in supply and demand, but it is only through inflation that prices rise in aggregate.
We are going to give a little something, a few little years more, to socialism, because socialism is defunct. It dies all by itself. The bad thing is that socialism, being a victim of its... Did I say socialism?
The essence of the problem is that the war against inflation is over, ... Ever since 1979 the Fed was fighting a war against inflation, and you always knew which way you wanted the inflation rate to go over the long run -- down.
During the 1970s, inflation expectations rose markedly because the Federal Reserve allowed actual inflation to ratchet up persistently in response to economic disruptions - a development that made it more difficult to stabilize both inflation and employment.
According to Lenin, socialism and democracy are indivisible.... The essence of perestroika lies in the fact that it unites socialism with democracy and revives the Leninist concept of socialist construction both in theory and in practice. We want more socialism and, therefore, more democracy.
The unique aspect of today's monetary inflation is that it is not limited to one country, but a host of countries are all inflating together. As a result of the monetary inflation (when all of the newly created money begins to leave the banks and enter the system), the price inflation will be worldwide.
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