Currently a level of unemployment of 7 percent or more seems to be required to keep inflation from accelerating, a level quite unacceptable as a permanent situation.

Firms would be given initial entitlements to gross markup on the basis of past performance. These entitlements would be transferable and a market in them would be developed.

Don't you think you're just rearranging deck chairs on the Titanic?

The great increase in longevity has produced a surge in the desire to accumulate assets for retirement. It has outpaced the ability of the private sector to produce assets, so we need a larger government debt.

I define genuine full employment as a situation where there are at least as many job openings as there are persons seeking employment, probably calling for a rate of unemployment, as currently measured, of between 1 and 2 percent.

This paper was one of my digressions into abstract economics.

Deficits do not in themselves produce inflation, nor does a balanced budget assure a stable price level.

It's insane to try to balance the budget.

There is no real justification for a requirement that a budget of any sort should be balanced, except as a rallying point for those who seek to hamstring government.

The insane pursuit of the holy grail of a balanced budget in the end is going to drive the economy into a depression.

Increasingly prices are set by sellers to raise their prices without a loss of sales sufficient to wipe out the gain.

There is no reason inherent in the real resources available to us why we cannot move rapidly within the next two or three years to a state of genuine full employment.

Nearly all educational expenditure should be considered a capital outlay, whether it provides a future return in the form of enhanced taxable income or in terms of an enhanced quality of life.

Practically, the desirable situation ought to be one in which any reasonably responsible person willing to accept available employment can find a job paying a living wage within 48 hours.

Larger deficits are necessary and proper means to mitigate unemployment as the far greater evil in terms of human welfare.

Balancing a nominal budget will solve nothing, and attempting to achieve such a spurious balance will produce much mischief.

The nominal budget is a poor indicator of the impact of government outlays and revenues.

If unemployment could be brought down to say 2 percent at the cost of an assured steady rate of inflation of 10 percent per year, or even 20 percent, this would be a good bargain.

Currently a level of unemployment of 7 percent or more seems to be required to keep inflation from accelerating, a level quite unacceptable as a permanent situation.

The supply-side effect of a restrictive monetary policy is likely to be perverse, in that high interest rates enter into costs and thus exert inflationary pressure.

If we have wealth, it will be protected from inflation and possibly even enhanced in value.

I'm a political scientist and I study these things, and I know that economic problems, with the rising unemployment and inflation and low productivity and so forth, were a factor in that election, in that defeat of President Carter.

They flooded liquidity in the marketplace but the mortgage rate is based much more on expectations of inflation. So if the average investor believes that there is inflation coming, they'll move that rate up.

Domestic inflation reflects domestic monetary policy.

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.

The Great Inflation of the 1970s destroyed faith in paper assets, because if you held a bond, suddenly the bond was worth much less money than it was before.

The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.

Double-digit inflation is a terrible thing - and it got up to 14 or 15 percent on a monthly basis for a while, shortly after I became chairman of the Fed.

Inflation is when you pay fifteen dollars for the ten-dollar haircut you used to get for five dollars when you had hair.

The best way to destroy the capitalist system is to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens.

Deficits do not in themselves produce inflation, nor does a balanced budget assure a stable price level.

Congress has not raised the minimum wage since 1997. The minimum wage is now at its lowest level in 50 years adjusted for inflation.

The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists.

Inflation is the crabgrass in your savings.

Median wages of production workers, who comprise 80 percent of the workforce, haven't risen in 30 years, adjusted for inflation.

I don't mind going back to daylight saving time. With inflation, the hour will be the only thing I've saved all year.

This unchecked spending is growing faster than our economy, faster than inflation, and far beyond our means to sustain it.

I continue to believe that the American people have a love-hate relationship with inflation. They hate inflation but love everything that causes it.

You could not buy a house in those days without just assuming that the house was not only a place to live, but it was a good investment, because it was going to keep up with inflation or get ahead of inflation, and it was just - that was America.

Well, I think the global economy is in the position for continuing good growth with inflation well in check.

Agency by agency, we frequently have lost a bit of ground, at least to inflation-but had it not been for the efforts we've made to educate people about the importance of science, technology and advanced education, those predictions very well might have come true.

Our system of private health insurance that fails to provide coverage to so many of our citizens also contributes to the double-digit health care inflation that is making America less competitive in the global economy.

Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel. These once unthinkable dosages will almost certainly bring on unwelcome after-effects. Their precise nature is anyone's guess, though one likely consequence is an onslaught of inflation.

We have to keep our eye on inflation, but so far inflation remains reasonably in check on the global stage.

Moderation of oil prices would be very, very welcome. But overall I think we are in a position of stable growth, sustainable growth, and basically with inflation in check.

When runaway inflation and bank failures struck in Germany in the 1920s, the middle class was destroyed, which led directly to the rise of the Nazis.

Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hit man.

Production is the only answer to inflation.

Inflation is the senility of democracies.