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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

Sentiment: NEGATIVE

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✓Similar Perspectives

Thirty years ago, many economists argued that inflation was a kind of minor inconvenience and that the cost of reducing inflation was too high a price to pay. No one would make those arguments today.

— Martin Feldstein

If Congress is unable to do its job and pass a federal budget, then I do not believe we should receive a salary.

— David Valadao

We are beginning to see a fundamental outrage at the whole interconnected mess of a system: at energy companies who record massive profits, yet allow pensioners to struggle to stay warm in winter; at CEOs who can earn up to a 1,000 times the salary of their average worker; and soon, any day now, at those politicians who allowed this to happen.

— Noreena Hertz

If I were in charge of the government, I would index the minimum wage to inflation, so that way, everybody knows what they can count on.

— Fred DeLuca

By the time I became chairman and there was more of a feeling of urgency, there was a willingness to accept more forceful measures to try to deal with the inflation.

— Paul A. Volcker

✗Opposing Perspectives

Although most Americans apparently loathe inflation, Yale economists have argued that a little inflation may be necessary to grease the wheels of the labor market and enable efficiency-enhancing changes in relative pay to occur without requiring nominal wage cuts by workers.

— Janet Yellen

Median wages of production workers, who comprise 80 percent of the workforce, haven't risen in 30 years, adjusted for inflation.

— Robert Reich

Inflation outstripped real wages for people who work for pay from others.

— Tim Bishop

Production is the only answer to inflation.

— Chester Bowles

Inflation was driven by higher labor costs, not higher goods costs. Frankly, I'd love to see a little bit of that. Because I'd love to pay people more. I'd love to see rising wages for everybody.

— Douglas R. Oberhelman