A Quote by Walter Wriston
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.
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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.
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.
The theory of economic shock therapy relies in part on the roleof expectations on feeding an inflationary process. Reining in inflation requires not only changing monetary policy but also changing the behavior of consumers, employers and workers. The role of a sudden, jarring policy shift is that it quickly alters expectations, signaling to the public that the rules of the game have changed dramatically - prices will not keep rising, nor will wages.
What an economy really wants, after all, is not more investment per se but better investment. It wants capital to flow to companies that will create value - not in the form of a rising stock price but in the form of more goods for less cost, more jobs, and rising wages - by enhancing productivity.
The greatest danger to an adequate old-age security plan is rising prices. A rise of 2% a year in prices would cut the purchasing power of pensions about 45% in 30 years. The greatest danger of rising prices is from wages rising faster than output per man-hour.... Whether the nation succeeds in providing adequate security for retired workers depends in large measure upon the wage policies of trade unions.
Hours wasted in traffic represent not only lost wages but enormous amounts of economic activity that might have happened. Congestion indirectly increases consumer prices, makes travel times unreliable for commuters and truckers, and precludes many people from accessing jobs in urban hubs.
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.
Make no mistake: Deciding to abstain from the Pledge of Allegiance does communicate something, and therefore, it is a form of speech. It's also a form of peaceful protest, the right to which is another one of our values.
You can't tell me you can make any system or country work with low wages and high prices, and high wages with high prices don't mean anything when the prices eat up the wages and don't leave anything over.
If global oil prices or commodity prices are high, then it is bound to create inflation. So, we should not be too worried if the inflation is created by global commodity prices. When they come down, inflation will automatically come down.
Pluralism lets things really exist in the each-form or distributively. Monism thinks that the all-form or collective-unit form is the only form that is rational.
My bottom line is that monetary policy should react to rising prices for houses or other assets only insofar as they affect the central bank's goal variables - output, employment, and inflation.
Man is the only slave. And he is the only animal who enslaves. He has always been a slave in one form or another, and has always held other slaves in bondage under him in one way or another. In our day, he is always some man's slave for wages, and does that man's work; and this slave has other slaves under him for minor wages, and they do his work. The higher animals are the only ones who exclusively do their own work and provide their own living.
Through death you find yourself, because you no longer identify with form. You realize you are not the form with which you had identified neither the physical nor the psychological form of "me". That form goes. It dissolves and who you are beyond form emerges through the opening where that form was. One could almost say that every form of life obscures God.
We refuse to recognize problems of form, but only problems of building. Form is not the aim of our work, but only the result. Form, by itself, does not exist. Form as an aim is formalism; and that we reject.
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.
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