A Quote by Tim Bishop

Inflation outstripped real wages for people who work for pay from others.

Tim Bishop

Quote Topics

Inflation Others Pay People Real Wages Work

Quote Author

Tim Bishop
American - Politician
Born: June 1, 1950

Workers' wages are not keeping up with inflation. Their wages are not on pace with the amount of work that they do. We work harder and longer in America and still people's wages are not keeping up with that.

Nina Turner

If people expect high inflation and raise wages to reflect the high inflation, then it becomes self-fulfilling.

Gita Gopinath

Inflation was driven by higher labor costs, not higher goods costs. Frankly, I'd love to see a little bit of that. Because I'd love to pay people more. I'd love to see rising wages for everybody.

Douglas R. Oberhelman

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.

Ludwig von Mises

The internal and external ethics of an organization must be the same; you cannot talk about minimum wages for poor people and not pay minimum wages to your own workers.

Aruna Roy

Of course, it is not the employer who pays wages. He only handles the money. It is the product that pays wages and it is the management that arranges the production so that the product may pay the wages.

Henry Ford

Ministers have received their wages, and some have their minds too much on their wages. They labor for wages, and lose sight of the sacredness and importance of the work.

Ellen G. White

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.

Tim Bishop

Mere inflation-that is, the mere issuance of more money, with the consequence of higher wages and prices-may look like the creation of more demand. But in terms of the actual production and exchange of real things it is not.

Henry Hazlitt

Economies are risky. Some industries rise, and others implode, like housing. Some places get richer, and others drop, like Atlantic City. Some people get new jobs that pay better, many lose their jobs or their wages.

Robert Reich

Sharp increases in the minimum wage rate are also inflationary. Frequently workers paid more than the minimum gauge their wages relative to it. This is especially true of those workers who are paid by the hour. An increase in the minimum therefore increases their demands for higher wages in order to maintain their place in the structure of wages. And when the increase is as sharp as it is in H.R. 7935, the result is sure to be a fresh surge of inflation.

Richard M. Nixon

We pay some price when necessary to bring down inflation but that price is temporary and is not large relative to the permanent gain from reduced inflation.

Martin Feldstein

The drum-fire of propaganda that the Fed is manning the ramparts against the menace of inflation brought about by others is nothing less than a deceptive shell game. The culprit solely responsible for inflation, the Federal Reserve, is continually engaged in raising a hue-and-cry about 'inflation,' for which virtually everyone else in society seems to be responsible. What we are seeing is the old ploy by the robber who starts shouting 'Stop, thief!' and runs down the street pointing ahead at others.

Murray Rothbard

Thirty years ago, many economists argued that inflation was a kind of minor inconvenience and that the cost of reducing inflation was too high a price to pay. No one would make those arguments today.

Martin Feldstein

If a market exists for low-paid work, then we should think about how we can make this type of work more attractive by providing government assistance. Of course, the wage-earner must be able to live off of his wages. We will not allow poverty wages or dumping wages. But the wage earner can receive a combined wage that includes both his actual wages and a government subsidy.