“This would, at a stroke, reduce the rise in prices, increase production and reduce unemployment.”

— Edward Heath

Statement (16 June 1970), quoted in The Times (17 June 1970), p. 4. This would be quoted back at Heath repeatedly during his premiership.
Leader of the Opposition

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Edward Heath 60

Prime Minister of the United Kingdom (1970–1974) 1916–2005

Kirby Page (1890–1957) American clergyman

Property (1935)
Context: In three ways unemployment would be reduced. First... by greater equalization of purchasing power and consequent stimulus in the form of effective demand. Second, by utilizing the national credit and socialized industries for the creation of new industries and the extension of existing ones.... Social ownership and operation of the basic industries, and especially socialized banking and credit, would greatly facilitate the task of shifting the masses of unemployed into productive channels. Third, if necessary, by shortening working hours and dividing the available work among all the people.

“If a rise in wages does not raise prices, a fall will not reduce them.”

Joan Robinson book An Essay on Marxian Economics

Source: An Essay on Marxian Economics (Second Edition) (1966), Chapter X, Real And Money Wages, p. 89

“The leaders of the large firms dominated by the manufacturing conception saw the key problem as low prices. This meant that they were intent on controlling prices by cutting production. But once prices were stabilized, they were cautious about increasing production for fear that prices would again collapse. Since their competitors had roughly equal production capacities and costs, all would lose by too rapid an increase in production.”

Neil Fligstein (1951) American sociologist

Source: The transformation of corporate control, 1993, p. 117

“Both… the separation of labor from control and of the owner from control… have made possible the continuing development of the size of the individual enterprise, have reduced the area within which economic processes is organized through the interplay of prices and have increased the area within which production is organized… and the coordination of production on a planned basis.”

Gardiner C. Means (1896–1988) American economist

Gardiner C. Means (1933; 6) as cited in: Samuels and Medema (1990; 69)

“There are practical consequences to rising inequality and reduced mobility.”

Barack Obama (1961) 44th President of the United States of America

2013, Remarks on Economic Mobility (December 2013)
Context: So let me repeat: The combined trends of increased inequality and decreasing mobility pose a fundamental threat to the American Dream, our way of life, and what we stand for around the globe. And it is not simply a moral claim that I’m making here. There are practical consequences to rising inequality and reduced mobility. For one thing, these trends are bad for our economy. One study finds that growth is more fragile and recessions are more frequent in countries with greater inequality. And that makes sense. When families have less to spend, that means businesses have fewer customers, and households rack up greater mortgage and credit card debt; meanwhile, concentrated wealth at the top is less likely to result in the kind of broadly based consumer spending that drives our economy, and together with lax regulation, may contribute to risky speculative bubbles.

“Labor is like any other commodity in the market — increase the demand for it and you increase the price of it. Reduce the supply of black labor by colonizing the black laborer out of the country, and by precisely so much you increase the demand for and wages of white labor.”

Abraham Lincoln (1809–1865) 16th President of the United States

Source: 1860s, Second State of the Union address (1862)

“The purpose of the large horizontal (same-product) mergers was to reduce the number of plants and, hence, control production enough to insure a reasonable rate of profit. Mergers would allow a newly created large firm to produce full-time in its most efficient plants, and thereby maintain prices, production, and profits.”

Neil Fligstein (1951) American sociologist

Source: The transformation of corporate control, 1993, p. 55

“In a corporate state, all attempts to reduce bureaucracy increase it.”

Theodore Dalrymple (1949) English doctor and writer

Theodore Dalrymple finds a cure for the German malady of low blood pressure: read The Guardian's job advertisements http://www.socialaffairsunit.org.uk/blog/archives/001381.php (February 5, 2007).
The Social Affairs Unit (2006 - 2008)

“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.

“If the economy today were operating close to capacity levels with little unemployment, or if a sudden change in our military requirements should cause a scramble for men and resources, then I would oppose tax reductions as irresponsible and inflationary; and I would not hesitate to recommend a tax increase, if that were necessary. But our resources and manpower are not being fully utilized; the general level of prices has been remarkably stable; and increased competition, both at home and abroad, along with increased productivity will help keep both prices and wages within appropriate limits.”

John F. Kennedy (1917–1963) 35th president of the United States of America

Source: 1962, Address and Question and Answer Period at the Economic Club of New York

“This would, at a stroke, reduce the rise in prices, increase production and reduce unemployment.”

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