An alternative "rational expectations” view denies that there is any inherent momentum in the present process of inflation. This view maintains that firms and workers have now come to expect high rates of inflation in the future and that they strike inflationary bargains in light of these expectations.
Thomas J. SargentRelated topics
alternative expect future high inflation light momentum now present process rational strike view ratesRelated quotes
The goal of mankind is knowledge ... Now this knowledge is inherent in man. No knowledge comes from outside it is all inside. What we say a man 'knows', should, in strict psychological language, be what he 'discovers' or 'unveils' what man 'learns' is really what he discovers by taking the cover off his own soul, which is a mine of infinite knowledge.
Swami Vivekananda
So much American science fiction is parochial -- not as true now as it was years ago, but the assumption is one culture in the future, more or less like ours, and with the same ideals, the same notions of how to do things, just bigger and flashier technology. Well, you know darn well it doesn't work that way...
Poul Anderson
Ye who listen with credulity to the whispers of fancy, and pursue with eagerness the phantoms of hope who expect that age will perform the promises of youth, and that the deficiencies of the present day will be supplied by the morrow, attend to the history of Rasselas, Prince of Abyssinia.
Samuel Johnson
