A Quote by Jared Bernstein
It's a mistake to think that any increase in wages is inflationary and there is substantial room for non-inflationary wage growth, particularly at the bottom end of the scale.
Related Quotes
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.
I think it is inflationary. I think it actually is counterproductive in many ways. You end up costing jobs from people who are at the bottom rung of the economic ladder.
Non-inflationary economic growth - an increase in the production of goods and services - is structurally necessary for the current money system to exist. That is what drives the relentless conversion of life into money.
I live in the same house I purchased in 1971 for $22,500. I think we need to increase the minimum wage and so all my neighbors can get an increase in their wages.
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.
I think the concern over rising interest rates is ahead of itself because I think inflationary fears themselves might be premature.
Two hundred years ago the first liberal economist, Adam Smith, warned businessmen that they could absorb only a certain amount of rigidity. In the easy days after World War II... wage rises could be financed out of inflationary price increases.
Yes, there is some evidence that migration can slightly depress wages at the bottom end of the labour market, but that's an argument for a genuine living wage, for ensuring all workers are employed on the same terms and conditions, and for extending unionisation.
You know, I've got experiences going back to the wage price controls in the Nixon administration where, in effect, we had what I think was a terrible mistake, in that case a Republican administration, where moved in and tried to control the wages, prices and profits of every enterprise in America. It was a huge mistake.
By keeping labor supply down, immigration policy tends to keep wages high. Let us underline this basic principle: Limitation of the supply of any grade of labor relative to all other productive factors can be expected to raise its wage rate; and increase in supply will, other things being equal, tend to depress wage rates.
Asset-heavy businesses generally earn low rates of return - rates that often barely provide enough capital to fund the inflationary needs of the existing business, with nothing left over for real growth, for distribution to owners, or for acquisition of new businesses
A good monetary policy follows inflationary expectations and not historical numbers.
If the economy of today were operating close to capacity levels with little unemployment, or if a sudden change in our military requirements should cause a scramble for men and resources, then I would oppose tax reductions as irresponsible and inflationary; and I would not hesitate to recommend a tax increase if that were necessary.
One can always find inflationary models to explain whatever phenomenon is represented by the flavour of the month.
I think what the American people are going to see down the road is significant inflationary pressure as a result of all this government printed, you know, this new money that the government is putting in.
Bankers know that history is inflationary and that money is the last thing a wise man will hoard
