Quote

In fact, the wage-price spiral is the functional counterpart of unemployment. The latter occurs when there is insufficient demand the spiral operates when there is too much and also,unfortunately, when there is just enough.

John Kenneth Galbraith

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John Kenneth Galbraith
Age: 97 †
Born: 1908
Born: October 15
Died: 2006
Died: April 29
Diplomat
Economist
Non-Fiction Writer
Politician
University Teacher
John K. Galbraith
Latter
Counterparts
Price
Functional
Demand
Operates
Fact
Insufficient
Facts
Occurs
Also
Wage
Counterpart
Enough
Unemployment
Spiral
Much
Unfortunately
Spirals

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