Ernest Hemingway: War Inflation
on Saturday, November 26, 2022Meaning of Ernest Hemingway Money Quote: saying it’s tempting to allow currency inflation or going to war because they bring short-term prosperity. Ernest Hemingway said:
“The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists” — Ernest Hemingway
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In this quote, Ernest Hemingway is comparing inflation and war as political strategies that can be used to address economic mismanagement of a country. His interpretation is that while both approaches may bring short-term growth and prosperity, they ultimately lead to long-lasting ruin.
Hemingway suggests that inflating a currency or engaging in war masks underlying economic issues rather than solving them, and that these actions are taken more for political gain by “opportunists” rather than out of concern for the nation’s long-term welfare.
His view seems to be that inflation and war are temporary fixes that do not remedy mismanagement of an economy in a sustainable way, and have severe negative consequences despite any initial benefits some may derive from such policies.
Birthday: July 21, 1899 – Death: July 2, 1961