"Chancellor stands by three per cent growth and no devaluation", The Times (25 July 1967), p. 13
The government was forced to devalue in November 1967.
Chancellor of the Exchequer
“In evaluating the adequacy of the sampled and anticipated outcomes of a relationship, the members of a dyad will have need for some kind of standard or criterion of the acceptability of outcomes. At least two important kinds of standard for such an evaluation can be identified. To try to make the distinction between these two standards as intuitively clear as possible, we may begin by saying that the first of these, called the comparison level (or CL), is the standard against which a member evaluates the 'attractiveness' of the relationship or how satisfactory it is. The second, called the comparison level for alternatives (or CLalt), is the standard the member uses in deciding whether to remain in or to leave the relationship.”
Source: The social psychology of groups. 1959, p. 21
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John Thibaut 13
American social psychologist 1917–1986Related quotes
Source: Debunking Economics - The Naked Emperor Of The Social Sciences (2001), Chapter 10, The Price Is Not Right, p. 235
Recollections of Thomas R. Marshall: A Hoosier Salad (1925), Chapter VI
“The standard you walk past, is the standard you accept.”
Message regarding unacceptable behaviour (2013)
Context: I will be ruthless in ridding the army of people who cannot live up to its values. And I need everyone of you to support me in achieving this. The standard you walk past, is the standard you accept. that goes for all of us, but especially those, who by their rank, have a leadership role. NB While on Q & A, ABC TV on 1st February 2016, Australian of the Year, Lieutenant General David Lindsay Morrison attributed; "The standard you walk by is the standard you accept"; to David Hurley, former Chief, Australian Defence Force, explaining the quote; "... doesn't belong to me or [my former speechwriter] Cate McGregor, it belongs to the Governor of NSW, David Hurley."
"Waiting for the Revolution" https://www.quantamagazine.org/20130524-waiting-for-the-revolution/, an interview of David Gross by Peter Byrne, Quanta Magazine (2013)