The Speed Of Communication, The Speed Of Information Transfer, The Cheapness Of Communication, The Ease Of Moving Things Around The World Are A Difference In Kind As Well As Degree.

The speed of communication, the speed of information transfer, the cheapness of communication, the ease of moving things around the world are a difference in kind as well as degree.

Paul A Volcker

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4 Comments

Less emphasis on inventories, I think, may tend to dampen business cycles, because business cycles are typically in the grasp of inventory cycles and heavy industry cycles.

Paul A Volcker

1 Likes

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It was the biggest inflation and the most sustained inflation that the United States had ever had.

Paul A Volcker

2 Likes

I am suspicious of the idea of a new paradigm, to use that word, an entirely new structure of the economy.

Paul A Volcker

2 Likes

Double-digit inflation is a terrible thing - and it got up to 14 or 15 percent on a monthly basis for a while, shortly after I became chairman of the Fed.

Paul A Volcker

5 Likes

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

0 Likes

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