Jacques Rueff: Inflation Expenditure

Meaning 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

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

Ron Paul: Economic Beneficial War

Ron Paul Money Quote saying only those who stand to profit from war expenses will be the only benefactors to war. Ron Paul said:
 

 

“War is never economically beneficial except for those in position to profit from war expenditures” — Ron Paul

In this quote, Ron Paul is arguing that war rarely if ever provides true economic benefits for society as a whole. His interpretation is that while certain industries like arms manufacturers profit substantially from the increased spending on weapons and supplies during wartime, war itself does not stimulate overall growth or increase aggregate wealth for most citizens.

Paul seems to be suggesting that war is mainly advantageous financially for those companies and individuals (“those in position”) that are directly involved in the war economy through contracts, but does little to advance broad-based prosperity.

The underlying message is skepticism that war can be economically justified, as any gains tend to disproportionately enrich private profiteers rather than benefit the general public or nation in net fiscal terms once all costs are considered.

Frederic Clemson Howe: War Costs

Frederic Clemson Howe Money Quote saying that if the wealthy classes had to pay for wars they start, the war would never begin – it is paid by the working class and poor. Frederic Clemson Howe said:
 

 

“There would be an end of war and preparations for war if the cost were borne by those responsible for war. There would be an end of armaments and preparedness if incomes and inheritances and the landed estates of the feudal classes paid for the protection which their privileges enjoy. War and preparations for war are possible only because the ruling classes are able to shift a great part of the cost onto the poor by indirect taxation and loans. War expenditures are tolerated only because the burdens are concealed in the increased cost of the things people consume” — Frederic Clemson Howe

In this quote, Frederic Clemson Howe is arguing that wars and military buildup are primarily possible due to the ruling/wealthy classes being able to pass much of the financial costs onto the poor through taxes and loans rather than bearing the costs themselves.

He suggests that if those truly responsible for decisions leading to conflict had to directly pay for defense spending through their own incomes, estates, etc., there would be an end to warfare and arms races. Howe also claims war expenditures are tolerated because the fiscal burdens are obscured and hidden through inflation of consumer goods prices rather than obvious direct taxation.

The best interpretation is that Howe is criticizing how the costs of militarism have historically been disproportionately shouldered by the less wealthy through indirect means, allowing conflicts and preparedness to continue when the elite classes do not have sufficient skin in the game financially.

Birthday: November 21, 1867 – Death: August 3, 1940