For both long and short periods there is a consistent though not precise relation between the rate of growth of the quantity of money and the rate of growth of nominal income. If the quantity of money grows rapidly, so will nominal income, and conversely. The relation is much closer for long than for short periods.
Milton FriedmanRelated topics
closer consistent growth income money nominal quantity rate relation shortRelated quotes
The central theme of this paper is the character and causes of long-term changes in the personal distribution of income. Does inequality in the distribution of income increase or decrease in the course of a country's economic growth? What factors determine the secular level and trends of income inequalities?
Simon Kuznets
The confidence is really driven by the woman - whether she can have the confidence that there will be enough earning or income to finance all the domestic spending - but also by the middle-income class, which for many Asian countries has become the growth power for the economy.
Sri Mulyani Indrawati
The ugly fallout from the American Dream has been coming down on us at a pretty consistent rate since Sitting Bull's time - and the only real difference now, with Election Day '72 only a few weeks away, is that we seem to be on the verge of ratifying the fallout and forgetting the Dream itself.
Hunter S. Thompson
In short, the early receivers of the new money in this market chain of events gain at the expense of those who receive the money toward the end of the chain, and still worse losers are the people (e. g., those on fixed incomes such as annuities, interest, or pensions) who never receive the new money at all.
Murray Rothbard
