Leonard Woodcock Quotes

The difficulty for Mr. Obama will be when the public sees where his decisions lead - higher inflation, higher interest rates, higher taxes, sluggish growth, and a jobless recovery.

Inflation is taxation without legislation.

If we continue to print new paychecks at the rate we've been adding them, that mitigates a lot of the damage of higher gasoline prices.

Now the truth is, a president really can't control the economy, although his policies do have some effect on it.

If you appoint me, I will raise interest rates and choke off the inflation, and that will have bad political repercussions for you.

The Keynesian prescription for unemployment rests on the persistence of a 'money illusion' among workers, i.e., on the belief that while, through unions and government, they will keep money wage rates from falling, they will also accept a fall in real wage rates via higher prices.

Prices always soar when there is a Congress government.

In the '30s, the Keynesian stuff worked at least in the sense that you could print money without inflation because there was all this productivity growth happening. That's not going to work today.

What is the effect of unlimited coinage of silver in this country? and I invite your attention to this particularly, because it is a question of vital importance.

We believe that - the President believes that the economy will continue to grow, that the economy will continue to create jobs, and that we need to do everything we can to enhance that growth and enhance that job creation.

When people begin anticipating inflation, it doesn't do you any good anymore, because any benefit of inflation comes from the fact that you do better than you thought you were going to do.

There was endless controversy as to whether the acts of the New Deal did actually move recovery or retard it, and nothing final could ever come of that bitter debate because it is forever impossible to prove what might have happened in place of what did.

Many emerging countries are facing the same issue of overheating and inflation because they have been vigorously expanding fiscal and monetary policy to counter the 2008 shock.

Popular as Keynesian fiscal policy may be, many economists are skeptical that it works. They argue that fine-tuning the economy is a virtually impossible task, and that fiscal-stimulus programs are usually too small, and arrive too late, to make a difference.

Recent research suggests that New Deal programs may actually have had their primary impact on the economy by influencing consumer and business expectations of future growth and inflation.

Thirty years ago, many economists argued that inflation was a kind of minor inconvenience and that the cost of reducing inflation was too high a price to pay. No one would make those arguments today.

The price of gold was fixed at $35 an ounce in 1934, but by the time the U.S. got through the Korean War, the Vietnam war, with all the associated secular inflation, the price level had gone up nearly three times.

Any debate among politicians about monetary policy is counterproductive.

When the economy is growing, there's a lot that can be done to deal with the deficit.

As America's head coach, President Obama needs to make some big and smart adjustments to jump-start economic growth and business investment, stimulate job creation, and get wages up for ordinary Americans.

Republicans don't seem to mind taking inflation into account when the subject is tax rates.

The problem is that the economy isn't growing fast enough to accommodate the level of spending produced through the democratic process.

It is a way to take people's wealth from them without having to openly raise taxes. Inflation is the most universal tax of all.

I'm an economist by training. And I know that what works is a permanent increase in buying power.

This economy is not getting better and the president's policies are the reason.