Margaret Thatcher Quotes
The lesson is clear. Inflation devalues us all.
Thatcher, Margaret. "Speech to Conservative Party Conference." Margaret Thatcher Foundation, 10 Oct. 1980.
COLA means Cost Of Living Adjustment, where wages, or payments of some kind are increased periodically to keep up with inflation. Most of those who call for COLAs do not claim that they fight inflation. For them the purpose is not to allow a particular group of people to get hurt by inflation. COLAs strictly speaking do not create inflation since they are only activated by inflation that was otherwise created. However, they certainly accelerate the inflation just like every price or wage increase during a time of inflation.
Margaret Hilda Thatcher, Baroness Thatcher, LG, OM, DStJ, PC, FRS, HonFRSC was a British stateswoman who served as Prime Minister of the United Kingdom from 1979 to 1990 and Leader of the Conservative Party from 1975 to 1990. She was the longest-serving British prime minister of the 20th century and the first woman to hold that office. A Soviet journalist dubbed her the "Iron Lady", a nickname that became associated with her uncompromising politics and leadership style. As prime minister, she implemented policies that became known as Thatcherism.