A Quote by Paul Ormerod
Once the true relationship between inflation and unemployment is understood, with luck and skill, a free lunch is possible.
Quote Topics
Quote Author
Related Quotes
In most Western economies, the general relationship is not in fact between the rate of inflation and the level of unemployment, but between the rate of change of inflation and the rate of change of unemployment.
It took me a long time to understand the relationship between ideas and between objective facts. But after I clearly understood this relationship, I didn't fool around with other wild ideas. That is one of the main reasons why I just make my scheme as simple as possible.
No politician can praise unemployment or inflation, and there is no way of combining high employment with stable prices that does not involve some control of income and prices. Otherwise the struggle for more consumption and more income to sustain it-a struggle that modern corporations, modern unions and modern democracy all facilitate and encourage-will drive up prices. Only heavy unemployment will then temper this upward thrust. Not many wish to confront the truth that the modern economy gives a choice only between inflation, unemployment, or controls.
There's no such thing as a free lunch, unless you have a coupon for a free lunch...or someone gives you a lunch...never mind.
It was really important in my relationship with James Caan that I understood the relationship between the family and the father.
We will not play with inflation. We are living a delicate moment. President Obama spoke to me today about the high unemployment affecting the United States. In this crisis period, when the developed nations are not recovering, it's prudent to maintain the established inflation target.
True loyalty between individuals is possible only in a loose and relatively free society.
In a free enterprise system, with an honest and stable money, there is dominantly a close link between effort and productivity, on the one hand, and economic reward on the other. Inflation severs this link. Reward comes to depend less and less on effort and production, and more and more on successful gambling and luck.
Collective unity is not the result of the brotherly love of the faithful for each other. The loyalty of the true believer is to the whole the church, party, nation and not to his fellow true believer. True loyalty between individuals is possible only in a loose and relatively free society .
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.
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.
It is said that there's no such thing as a free lunch. But the universe is the ultimate free lunch.
There are rules to luck, not everything is chance for the wise; luck can be helped by skill.
In a letter (no matter how quickly it is written or honestly or freely or lovingly) it is more possible to be loving and lovable, more possible to reach out and to take in ... I feel I have somehow deceived you into thinking this is really a human relationship. It is a letter relationship between humans.
Inflation is the parent of unemployment and the unseen robber of those who have saved.
Forgiveness does not create a relationship. Unless people speak the truth about what they have done and change their mind and behavior, a relationship of trust is not possible. When you forgive someone you certainly release them from judgment, but without true change, no real relationship can be established.
Related Authors
Adam Smith Quotes
Scottish
Economist
Alan Greenspan Quotes
American
Economist
Benjamin Graham Quotes
American
Economist
Friedrich August von Hayek Quotes
Austrian
Economist
John Kenneth Galbraith Quotes
American
Economist
John Maynard Keynes Quotes
English
Economist
Joseph Stiglitz Quotes
American
Economist
Ludwig von Mises Quotes
Austrian
Economist
Milton Friedman Quotes
American
Economist
Muhammad Yunus Quotes
Bangladeshi
Economist
Murray Rothbard Quotes
American
Economist
Paul Krugman Quotes
American
Economist
Richard Thaler Quotes
American
Economist
Robert Reich Quotes
American
Economist
Thomas Sowell Quotes
American
Economist
Walter E. Williams Quotes
American
Economist