David Meiselman Quotes

David Meiselman (1924–2014): monetarist economist, Friedman's coauthor. Pro-market, pro-liberty quotes on money, inflation, rates & government spending.

[David Meiselman Quotes @MeiselmanEcon]

Real footage: Meiselman debating oil and inflation in 1979 — his actual voice, his actual argument. No AI, no recreation. From The Advocates.

[David Meiselman Quotes @MeiselmanEcon]

"So I took a year long course, or three quarters of a course called Socioeconomic Planning, and that convinced me to be a free market person."

— David Meiselman

*Interview with Robert L. Hetzel, March 28, 1995*
#economics #liberty

[David Meiselman Quotes @MeiselmanEcon]

@unusual_whales "The major factor causing high interest rates today is the investing community's belief that inflation will continue to depress the value of their saving."

— David Meiselman

Deficits, Money, and the Cause of Inflation, Wall Street Journal, 1981

[David Meiselman Quotes @MeiselmanEcon]

@DailySowell "There's a lot of loot in inflation, particularly for the government."

— David Meiselman

The Advocates debate, 1979

[David Meiselman Quotes @MeiselmanEcon]

@awealthofcs "Easy money leads to tight credit. Tight money leads to easy credit."

— David Meiselman

Testimony, House Subcommittee on Domestic Monetary Policy, 1976

[David Meiselman Quotes @MeiselmanEcon]

@OcrazioCornPop "Put crudely, inflation results when the money supply outpaces the growth in the output of goods and services."

— David Meiselman

Wall Street Journal, 1981

[David Meiselman Quotes @MeiselmanEcon]

@NoLimitGains "Anticipations may not be realized yet still determine the structure of rates."

— David Meiselman

The Term Structure of Interest Rates, 1962

[David Meiselman Quotes @MeiselmanEcon]

“Most economic commentaries continued to analyze inflation and prescribe remedies as if the United States and other countries were closed economies, as if inflation were a purely national phenomenon.”

— David Meiselman

*Introduction, The Phenomenon of Worldwide Inflation, 1975*

#inflation
#economics

[David Meiselman Quotes @MeiselmanEcon]

Takeaway 3: one lumped total wasn't enough. They split the corporate sector by industry — manufacturing, mining, railroads, utilities, communications, trade — from IRS data. The Fed's quarterly Financial Accounts trace back to this. Full story: https://t.co/sddEUgSGih

[David Meiselman Quotes @MeiselmanEcon]

https://t.co/59sLgftihT

[David Meiselman Quotes @MeiselmanEcon]

In 1964, David Meiselman & Eli Shapiro asked a question no official data could answer: where does corporate America's money actually come from — and where does it go? 3 takeaways from their NBER Technical Paper No. 18, "The Measurement of Corporate Sources and Uses of Funds" 🧵

[David Meiselman Quotes @MeiselmanEcon]

Takeaway 2: a year was too long to wait. "An interval of a year is much too long to observe the dynamic and cyclical forces at work in the financial markets." So they built the accounts quarter by quarter — a movie, not a photograph.

[David Meiselman Quotes @MeiselmanEcon]

From Meiselman's 1962 classic on interest rates: rising yields reveal what the market expects money to do next. The bond market reads the printing press before anyone else.

[David Meiselman Quotes @MeiselmanEcon]

@PeterSchiff Recap: He told Congress that fear of inflation was adding 3 to 5 percentage points to long-term bond yields — an uncertainty premium baked into every mortgage and Treasury auction in America.

— David Meiselman

_Testimony on inflation-indexed securities, 1985_

[David Meiselman Quotes @MeiselmanEcon]

@zerohedge Recap: fear of inflation was adding 3 to 5 percentage points to long-term bond yields — David Meiselman, Testimony on inflation-indexed securities, 1985

[David Meiselman Quotes @MeiselmanEcon]

New from The David Meiselman Collection: how David Meiselman's May 14, 1985 testimony urged inflation-indexed Treasury bonds — twelve years before TIPS. https://t.co/jYYTl9ZRHp #DavidMeiselman

[David Meiselman Quotes @MeiselmanEcon]

https://t.co/CeFA9r0HcQ

[David Meiselman Quotes @MeiselmanEcon]

https://t.co/CeFA9r0HcQ

[David Meiselman Quotes @MeiselmanEcon]

"More jobs, higher real incomes and lower inflation, especially in the months immediately preceding an election, are widely understood to benefit incumbents."

— David Meiselman

*The Political Monetary Cycle, Wall Street Journal, January 10, 1984*

#inflation #FederalReserve

[David Meiselman Quotes @MeiselmanEcon]

@jackmallers "The repudiation is salami style, one slice at a time with each increase in the CPI, but repudiation nevertheless." — Testimony on inflation-indexed securities, 1985

[David Meiselman Quotes @MeiselmanEcon]

@johnredwood 1970s: U.S. output grew ~2%/yr, money supply 9.5%, prices 7.5%. Money minus output equals inflation. — David Meiselman, The Advocates debate, 1979

[David Meiselman Quotes @MeiselmanEcon]

@WallStreetMav "There's a lot of loot in inflation, particularly for the government." — The Advocates debate, 1979