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We cannot hope to achieve full employment and sustain it until we have mastered inflation.
-Denis Healey
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We Cannot Hope To Achieve Full Employment

Denis Healey
We cannot hope to achieve full employment and sustain it until we have mastered inflation.
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Employment Economics Achieve

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And then the spirit brings hope, hope in the strictest christian sense, hope which is hoping against hope. for an immediate hope exists in every person; it may be more powerfully alive in one person than in another; but in death every hope of this kind dies and turns into hopelessness. into this night of hopelessness (it is death that we are describing) comes the life-giving spirit and brings hope, the hope of eternity. it is against hope, for there was no longer any hope for that merely natural hope; this hope is therefore a hope contrary to hope.
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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.
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Towns are full of people, houses full of tenants, hotels full of guests, trains full of travelers, cafés full of customers, parks full of promenaders, consulting-rooms of famous doctors full of patients, theatres full of spectators, and beaches full of bathers. what previously was, in general, no problem, now begins to be an everyday one, namely, to find room.
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Significant changes in the growth rate of money supply, even small ones, impact the financial markets first. then, they impact changes in the real economy, usually in six to nine months, but in a range of three to 18 months. usually in about two years in the us, they correlate with changes in the rate of inflation or deflation." "the leads are long and variable, though the more inflation a society has experienced, history shows, the shorter the time lead will be between a change in money supply growth and the subsequent change in inflation.
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What people today call inflation is not inflation, i.e., the increase in the quantity of money and money substitutes, but the general rise in commodity prices and wage rates which is the inevitable consequence of inflation.
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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.
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