“The centrally planned economies, dissatisfied with the outcome of their own efforts to achieve good economic growth performance, have changed strategy and decided to import high technology from the West. as well as necessary grains to supplement their domestic agicultural supplies. This new approach has opened their economies to Western inflation because imports have been reflecting rising world price. Gold and oil sales at correspondingly rising prices have been used by the Soviet Union to finance part of their import needs. but they are fully enmeshed in world inflation accounting in balancing rising export prices.”

"Some Economic Scenarios for the 1980's," 1980

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "The centrally planned economies, dissatisfied with the outcome of their own efforts to achieve good economic growth per…" by Lawrence Klein?
Lawrence Klein photo
Lawrence Klein 15
American economist 1920–2013

Related quotes

Norman Lamont photo

“Rising unemployment and the recession have been the price that we have had to pay to get inflation down. That price is well worth paying.”

Norman Lamont (1942) British politician

Hansard, HC 6Ser vol 191 col 413 (16 May 1991) http://www.publications.parliament.uk/pa/cm199091/cmhansrd/1991-05-16/Orals-1.html.

John McCain photo
John R. Bolton photo

“The critical oil and natural gas producing region that we fought so many wars to try and protect our economy from the adverse impact of losing that supply or having it available only at very high prices.”

John R. Bolton (1948) American lawyer and diplomat

John Bolton Admits All Of These Wars Are For Oil http://www.youtube.com/watch?v=rAgv6HaOHzM, interview on Fox News, October 22, 2011

Ralph George Hawtrey photo
W. Brian Arthur photo
Francis Escudero photo

“It is accepted fact that the world has been moving from an economy of goods to an economy of knowledge. And knowledge is the single most important resource to any advanced society.”

Francis Escudero (1969) Filipino politician

2009, Speech: The Socio-Economic Peace Program of Senator Francis Escudero

Geoffrey Howe photo

“The well-being of the British people and the health of our economy are far more important than any government's commitment to a particular strategy, but to change course now would be fatal to the whole counter-inflation strategy.”

Geoffrey Howe (1926–2015) British Conservative politician

"Chancellor determined not to change course in the fight against inflation", The Times, 11 March 1981, p. 6.
1981 budget speech.

David Ricardo photo

“The opinions that the price of commodities depends solely on the proportion of supply and demand, or demand to supply, has become almost an axiom in political economy, and has been the source of much error in that science.”

David Ricardo (1772–1823) British political economist, broker and politician

Source: The Principles of Political Economy and Taxation (1821) (Third Edition), Chapter XXX, Influence of Demand and Supply, p. 260

Related topics