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"You could not buy a house in those days without just assuming that the house was not only a place to live, but it was a good investment, because it was going to keep up with inflation or get ahead of inflation, and it was just - that was America."
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"CAPITALISM: If everything worked without need of repair, upgrade or replacement, then peaceful minds and prosperity would prevail among the masses rather than just the few who control markets."
"Money is representative, and follows the nature and fortunes of the owner...The farmer is covetous of his dollar, and with reason. It is no waif to him. He knows how many strokes of labor it represents. His bones ache with the days' work that earned it. He knows how much land it represents - how much rain, frost and sunshine. He knows that, in the dollar, he gives you so much discretion and patience, so much hoeing and threshing. Try to lift his dollar; you must lift all that weight. In the city, where money follows the skit of a pen or a lucky rise in exchange, it comes to be looked on as light."
"It is clear that the economy has not gotten better for everyone."
"You know if the U.S. Government wanted to boost the economy there's a simple solution make Black Friday the refund date for your state and federal taxes."
"Development of states, urbanization, mechanization and industrialisation have all brought phenomenal strides to growth and prosperity of economies and their populace. They have also brought with them the insatiable need for energy resources with the related offspring of instability, conflict, war and corruption."
"Belonging to the working class is the economy's punishment for those who did what they were told to do in class."
"Our growing, robust economy is able to provide the average American citizen access to the best social program there is - a steady job."
"The minimum wage was due for an increase, but it was important that we offset its cost to small businesses."
Explore more quotes by Paul A. Volcker
"It was the biggest inflation and the most sustained inflation that the United States had ever had."
"By the time I became chairman and there was more of a feeling of urgency, there was a willingness to accept more forceful measures to try to deal with the inflation."
"The speed of communication, the speed of information transfer, the cheapness of communication, the ease of moving things around the world are a difference in kind as well as degree."
"When people begin anticipating inflation, it doesn't do you any good anymore, because any benefit of inflation comes from the fact that you do better than you thought you were going to do."
"Double-digit inflation is a terrible thing - and it got up to 14 or 15 percent on a monthly basis for a while, shortly after I became chairman of the Fed."
"Less emphasis on inventories, I think, may tend to dampen business cycles, because business cycles are typically in the grasp of inventory cycles and heavy industry cycles."
"Well, by the standards of a lot of countries, by Latin American standards, it wasn't so bad."
"What's the subject of life - to get rich? All of those fellows out there getting rich could be dancing around the real subject of life."
"I am suspicious of the idea of a new paradigm, to use that word, an entirely new structure of the economy."
"You could not buy a house in those days without just assuming that the house was not only a place to live, but it was a good investment, because it was going to keep up with inflation or get ahead of inflation, and it was just - that was America."
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