Hayek Inflation Quotes & Sayings

If this is the degree of inflation planned for in advance, the real outcome is indeed likely to be such that most of those who will retire at the end of the century will be dependent on the charity of the younger generation. And ultimately not morals but the fact that the young supply the police and the army will decide the issue: concentration camps for the aged unable to maintain themselves are likely to be the fate of an old generation whose income is entirely dependent on coercing the young. — Friedrich August Von Hayek

There may be few instances in which the superstition that only measurable magnitudes can be important has done positive harm in the economic field: but the present inflation and employment problems are a very serious one. — Friedrich August Von Hayek

With the growth of market individualism comes a corollary desire to look for collective, democratic responses when major dislocations of financial collapse, unemployment, heightened inequality, runaway inflation, and the like occur. The more such dislocations occur, the more powerful and internalized, Hayek insists, neoliberal ideology must become; it must become embedded in the media, in economic talking heads, in law and the jurisprudence of the courts, in government policy, and in the souls of participants. Neoliberal ideology must become a machine or engine that infuses economic life as well as a camera that provides a snapshot of it. That means, in turn, that the impersonal processes of regulation work best if courts, churches, schools, the media, music, localities, electoral politics, legislatures, monetary authorities, and corporate organizations internalize and publicize these norms. — William E. Connolly

Inflation is probably the most important single factor in that vicious circle wherein one kind of government action makes more and more government control necessary. For this reason all those who wish to stop the drift toward increasing government control should concentrate their effort on monetary policy. — Friedrich August Von Hayek

I do not think it is an exaggeration to say history is largely a history of inflation, usually inflations engineered by governments for the gain of governments. — Friedrich August Von Hayek