Doe Quote by Joan Robinson
“If a rise in wages does not raise prices, a fall will not reduce them.”
About This Quote
Source Book: Economics and the Theory of Value, 1933
Wage changes don’t affect prices unless they are significant; small adjustments leave inflation unchanged.
In simple terms: Small wage shifts don’t move prices.
Focus on larger economic levers.
Themes
Mood
Type
When to use this quote
- setting minimum wage
- inflation control
- business pricing
- government fiscal policy
Key Concepts
Questions to Reflect On
- Are wage policies effective for price control?
- What other factors drive inflation?
Ignoring wage impact may overlook other inflation drivers.