Tuesday, 9 March 2010

Inflation

THE immortal quote on inflation was originally written by Theodore Harold White:

"Inflation is a haunting pestilence of the middle class. It is the hidden threat that disorganized governments always hold over those who try to plan, to save, to invest, to be prudent. To be honest in day-to-day dealings in runaway inflation does not make sense. To pay debts on time is foolish; to borrow and spend as fast as possible is prudence."


https://www.policyarchive.org/bitstream/handle/10207/13407/92705_1.pdf?sequence=1

Notes:Theodore White was a historian and political journalist of democratic signature. He won the 1962 Pulitzer price for non-fiction with his book 'The making of the President" on the electoral campaign of JF Kennedy.
 
The original document from the 1950's is depicting the situation in China under Chiang Kai-Shek, shortly before the Communist revolution. In the above article, Th. White is quoted by William E Simon, former Secretary of the Treasury, on the occasion of the celebration of the 200th anniversary of the Constitution (1987).
 
http://en.wikipedia.org/wiki/Theodore_White
 
 

No comments:

Post a Comment