Jacques Rueff: Inflation Expenditure
on Wednesday, November 23, 2022Meaning of Jacques Rueff Money Quote: saying inflation seems to magically make money disappear and at the same time cover subsidies. Jacques Rueff said:
“Inflation consists of subsidizing expenditures that give no returns with money that does not exist” — Jacques Rueff
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Jacques Rueff is providing a concise definition of inflation in this quote. He is saying that inflation occurs when governments fund expenditures that do not generate any returns/productivity (such as some social programs) by creating new money that was not backed by real economic activity or asset reserves.
Rueff’s definition suggests that inflation stems from using unearned or nonexistent money to subsidize unproductive spending, essentially printing money to pay bills.
The quote conveys that inflation is the result of spending money that doesn’t really exist to finance programs and services that don’t add real value or returns to the economy. This definition characterizes inflation as artificial monetary expansion not aligned with genuine economic output.
Birthday: August 23, 1896 – Death: April 23, 1978