Inflation Quotes (6 quotes)
I don’t mind going back to daylight saving time. With inflation, the hour will be the only thing I’ve saved all year.
In the fall of 1972 President Nixon announced that the rate of increase of inflation was decreasing. This was the first time a sitting president used the third derivative to advance his case for reelection.
My decision to leave applied mathematics for economics was in part tied to the widely-held popular belief in the 1960s that macroeconomics had made fundamental inroads into controlling business cycles and stopping dysfunctional unemployment and inflation.
One of the most curious and interesting reptiles which I met with in Borneo was a large tree-frog, which was brought me by one of the Chinese workmen. He assured me that he had seen it come down in a slanting direction from a high tree, as if it flew. On examining it, I found the toes very long and fully webbed to their very extremity, so that when expanded they offered a surface much larger than the body. The forelegs were also bordered by a membrane, and the body was capable of considerable inflation. The back and limbs were of a very deep shining green colour, the undersurface and the inner toes yellow, while the webs were black, rayed with yellow. The body was about four inches long, while the webs of each hind foot, when fully expanded, covered a surface of four square inches, and the webs of all the feet together about twelve square inches. As the extremities of the toes have dilated discs for adhesion, showing the creature to be a true tree frog, it is difficult to imagine that this immense membrane of the toes can be for the purpose of swimming only, and the account of the Chinaman, that it flew down from the tree, becomes more credible. This is, I believe, the first instance known of a “flying frog,” and it is very interesting to Darwinians as showing that the variability of the toes which have been already modified for purposes of swimming and adhesive climbing, have been taken advantage of to enable an allied species to pass through the air like the flying lizard. It would appear to be a new species of the genus Rhacophorus, which consists of several frogs of a much smaller size than this, and having the webs of the toes less developed.
Partly because of improved technology, partly because of the pressures of inflation, partly from causes few understand or agree about, prices have soared. A Spitfire cost £5000 in 1940. A Tornado Air Defence Fighter costs £14 million today. That is a lot of inflation! And even when all has been said about the greater effectiveness of the latter machine, so that far fewer are needed, there still remains a mighty problem. There tend to be limits to the extent to which numbers can be reduced by superior quality. A ship can only cover a certain amount of ocean, however sophisticated it may be; and the most formidable of tanks can’t do much beyond the limits of its commander’s sight. There is a minimum numerical requirement, and meeting it with equipment capable of taking on the enemy was already, in 1955, a source of worry.
With old inflation riding the headlines, I have read till I am bleary-eyed, and I can’t get head from tails of the whole thing. ... Now we are living in an age of explanations—and plenty of ’em, too—but no two things that’s been done to us have been explained twice the same way, by even the same man. It’s and age of in one ear and out the other.