Conditions have greatly changed in Great Britain since the end of the war owing to the existence of full employment. Negotiations about wages between the two sides of industry now take place in entirely different circumstances. There is no reserve of labour to compete for jobs. ... If wages rise faster than productivity the increases in cost can usually be passed on in increased selling prices. There is thus in the economic system very much less check on the upward movement of money wages. ...if wages at home rise unchecked, it is more likely in general that exports will gradually cease to be competitive and there will be balance of payments difficulties. These can be met, in the end, by devaluation. A succession of devaluations completely undermines confidence in any currency. ... It is clear that a very difficult problem faces a country such as ours, which wishes to maintain full employment and yet to avoid the undoubted evils of rising prices and balance of payments difficulties abroad.
Hugh GaitskellRelated topics
abroad balance cease check clear confidence cost country currency different difficulties employment end existence faster full general great home industry less likely met money movement now place problem productivity reserve rising rise selling succession system take thus upward wages war yet circumstances conditions labour britain devaluation jobsRelated quotes
Our military force at this moment is as efficient in discipline as it is in numbers; and this not only in the regular army, but in the militia, volunteers, and other descriptions of force. We have six hundred thousand men in arms, besides a navy of two hundred thousand. The masculine energies of the nation were never more conspicuous, and the country never at any period of its history stood in so proud and glorious a position, as at present. After a conflict for fifteen years, against an enemy whose power had been progressively increasing, we are still able to maintain the war with augmenting force and a population, by the pressure of external circumstances, consolidated into an impregnable military mass. Our physical strength has risen when it has been called for; and if we do not present the opposition of numerous fortresses to an invader as the continent does, we present the more insuperable barrier of a high-spirited, patriotic, and enthusiastic people.
Henry Temple, 3rd Viscount Palmerston
I suspect that many of the world's financial lords are somewhat embarrassed to tell Japan repeatedly at G-7 meetings and elsewhere to adopt a Keynesian solution. Within Europe, central banks and governments think Keynesian theories and policies are absolutely wrong. Despite the remarkable success of pragmatic policies in the United States, true believers in the Invisible Hand reject Keynesian diagnoses and prescriptions. Many observers of Japan have found it intellectually comforting to blame the slump on the plight of the banks, flooded with bad loans dated from the land and equity bubbles and their collapse. They hope that a governmentmanaged and -subsidized rectification of bank balance sheets will trigger overall economic recovery. I think this is a false hope. The bank problem is only a small part of the macroeconomic disaster. It has to be resolved, of course, but resolution that is no substitute for the needed fiscal and monetary stimuli.
James Tobin
The accusations of cultism leveled against Korzybski's followers are not altogether unfounded. In the United States there is a large floating population of 'truthseekers'. Many of them lack the capacity of strenuous intellectual effort required in a fruitful pursuit of knowledge and wisdom; others lack the power of critical evaluation, which would enable them to tell the genuine from the false. Still others cannot be comfortable until they find a panacea to believe in. These people support 'movements' and cults. They are as likely to 'go for' Christian Science as for technocracy, for psychoanalysis as for theosophy, for the Great Books programme as for dianetics. And so inevitably one finds some of them among the adherents of general semantics... Whether they were actually helped by general semantics or by other factors cannot be determined without sufficient controls. But they went about spreading the faith, thus giving a cultist flavour to the 'movement'.
Anatol Rapoport
Living with the conditions of slavery and then later segregation, many Negroes lost faith in themselves. Many came to feel that perhaps they were less than human, perhaps they were inferior. But then something happened to the Negro. Circumstances made it possible and necessary for him to travel more. The coming of the automobile, the upheavals of two world wars, the great depression. So his rural plantation background gradually gave way to urban industrial life. His economic life was gradually rising and even his cultural life was gradually rising through the steady decline of crippling illiteracy. All of these forces conjoined to cause the Negro to take a new look at himself. His religion revealed to him that God loves all of his children and that all men are made in His image. That the basic thing about a man is not his specificity but his fundamental. Not the texture of his hair or the color of his skin but his eternal dignity and worth.
Martin Luther King Jr.
For anyone seeking meaning for his life a figure from Greek mythology comes to mind. It is that of Atlas, bearing with endless perseverance the weight of the heavens on his back. - Atlas, resolutely bearing his burden and accepting his responsibility that gives us the example we seek. To seek out and accept responsibility; to persevere; to be committed to excellence; to be creative and courageous; to be unrelenting in the pursuit of intellectual development; to maintain high standards of ethics and morality; and to bring these basic principles of existence to bear through active participation in life - these are some of my ideas on the goals which must be met to achieve meaning and purpose in life.
And finally, the man who knows his purpose in life accepts praise humbly. He knows whatsoever talents we has were given him by the Lord and that these talents must be developed and used. In this way man renders thanks for the Lord's gift - and finds meaning in his life.
Hyman G. Rickover
