Devaluation Quotes - page 2

Callaghan resigned as Chancellor after devaluation. His place was taken by Roy Jenkins who was, in my judgment, the ablest of the four Chancellors I served. He listened to advice, but made up his own mind, explaining to his advisers the grounds for his decision. He was at times able to foresee contingencies of which his staff had not warned him, such as the possible devaluation of the French franc, and was judicious in assessing such contingencies and deciding what measures were appropriate to the circumstances. He was not afraid to take extreme measures to overcome major dangers, adding more to taxation and cutting more from public expenditure than his advisers suggested and showing a sound judgment of what was at stake. This resoluteness in the circumstances in which he took office enabled him to carry the Cabinet with him after three years in which they had shrunk from much milder action. (Roy Jenkins)
The worker becomes all the poorer the more wealth he produces, the more his production increases in power and range. The worker becomes an ever cheaper commodity the more commodities he creates. With the increasing value of the world of things proceeds in direct proportion the devaluation of the world of men. Labour produces not only commodities; it produces itself and the worker as a commodity - and does so in the proportion in which it produces commodities generally. View quote
Karl Marx