Customer Quote by Norman Lamont
“Rising unemployment and the recession have been the price that we have had to pay to get inflation down. That price is well worth paying.”
About This Quote
Source Speech: Treasury Statement, 1975
Accepting short‑term pain (unemployment) is justified to achieve long‑term stability (low inflation).
In simple terms: Short pain for long gain.
Key Takeaway
Support policies that curb inflation despite temporary hardship.
Themes
economics
inflation
policy trade‑offs
Mood
serious
analytical
Type
policy
economic
When to use this quote
- government budgeting
- public debates
- business planning
Key Concepts
macroeconomic stability
fiscal responsibility
Questions to Reflect On
- Are the social costs worth the economic benefits?
- How can we mitigate pain while controlling inflation?
A Different Perspective
Hardship can cause social unrest and inequality.
![“We are headed for a much morse financial crisis than the one we experienced in '08 [2008] and we are headed for a much greater recession than we lived through following that crisis; the one we called the Great Recession. And what's going to make it so much worse is, it's going to be inflationary…” quote by Peter Schiff](https://sms4smile.com/quotes/img-quotes/201/peter-schiff-8095_bailout_we-are-headed-for-a-much-morse-financial_1627972.jpg)
