"We asked the workers to give up 25 percent of their salaries. Imagine! We asked the industrialists to freeze all costs, no matter what the inflation is"
- Shimon Peres
About this Quote
This quote by Shimon Peres talks to the difficult financial times that many people were facing. He is highlighting the reality that the workers were asked to take a pay cut of 25 percent, while the industrialists were asked to freeze all expenses, despite inflation. This reveals the variation in between the two groups, with the employees being asked to make a much larger sacrifice than the industrialists. It also talks to the requirement for financial reform, as the workers are being asked to make a considerable sacrifice while the industrialists are not. This quote highlights the need for a more fair economic system, where everybody is asked to make a fair contribution to the economy. It likewise talks to the need for higher economic security for workers, so that they are not asked to make such a large sacrifice in times of financial challenge.
This quote is written / told by Shimon Peres somewhere between August 21, 1923 and today. He/she was a famous Statesman from Israel.
The author also have 17 other quotes.
"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"
"I do not think it is an exaggeration to say history is largely a history of inflation, usually inflations engineered by governments for the gain of governments"
"The best way to destroy the capitalist system is to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens"
"Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel. These once unthinkable dosages will almost certainly bring on unwelcome after-effects. Their precise nature is anyone's guess, though one likely consequence is an onslaught of inflation"
"And so our goal on health care is, if we can get, instead of health care costs going up 6 percent a year, it's going up at the level of inflation, maybe just slightly above inflation, we've made huge progress. And by the way, that is the single most important thing we could do in terms of reducing our deficit. That's why we did it"
