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Enoch Powell - The connection between the control of...
The connection between the control of inflation and unemployment is that if a substantial level of inflation is in operation and that level is reduced, then to that extent it is inevitable that transitionally unemployment should result. I say again: it is inevitable that controlling inflation, in the sense of reducing or eliminating it, causes transitional unemployment... It arises from the disappointment of the expectations which are maintained during a period of inflation. (Enoch Powell)

The connection between the control of inflation and unemployment is that if a substantial level of inflation is in operation and that level is reduced, then to that extent it is inevitable that transitionally unemployment should result. I say again: it is inevitable that controlling inflation, in the sense of reducing or eliminating it, causes transitional unemployment... It arises from the disappointment of the expectations which are maintained during a period of inflation.

Enoch Powell

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connection control controlling disappointment extent inevitable inflation level operation period reducing result say sense should substantial unemployment

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