John Kenneth Galbraith Quotes

All inflationary processes in history are related to political and moral crises.

There's no such thing as a painless cure for inflation.

When you get inflation, you get massive distortions of the economy.

The natural tendency of the state is inflation.

Since World War II, inflation - the apparently inexorable rise in the prices of goods and services - has been the bane of central bankers.

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 taxation without legislation.

At some point, the dollar has to give. You can't just keep printing money, and monetizing debt, and buying bonds, without the dollar imploding.

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.

Domestic inflation reflects domestic monetary policy.

Inflation is one form of taxation that can be imposed without legislation.

You have to change people’s minds to stop inflation.

We have lost control over the financial system ... by printing much more money than in previous years.

Americans have seen the value of the dollar slowly decline due to the steady erosion of inflation.

In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.

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.

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.

Hyperinflation can take virtually your entire life's savings, without the government having to bother raising the official tax rate at all.

Our fiat currency is under increasing stress with our large and growing trade deficits. We have a federal deficit that is calculated in the trillions when we take into account the net present value of the future Social Security and Medicaid obligations we are creating today.

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

Governments can inflate their way out of debt, but that has consequences, doesn't it?

Each money-printing exercise brings about unintended consequences. These unintended consequences are higher inflation rates than had no money been printed.

Inflation is everywhere and anywhere a monetary phenomenon.

People forget how difficult it is to stop inflation or get it under control… I worry about it all the time.

Monetary policy and fiscal policy are inseparable.