David Meiselman Quotes

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

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

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Recap: His prescription was rules, not rulers: lock in money-growth targets of 2–4% a year for M1, 4.5–6.5% for M2 — and disinflate gradually over 3 to 5 years, never slamming the brakes.

*David Meiselman, Testimony, House Subcommittee on Domestic Monetary Policy, 1976*

#monetarypolicy
#FederalReserve

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@robin_j_brooks "No tax is a good tax and no deficit is a good deficit." — David Meiselman, *Senate Finance Committee testimony, 1978*

[David Meiselman Quotes @MeiselmanEcon]

@elerianm "Anticipations may not be realized yet still determine the structure of rates in the manner asserted by the theory." — David Meiselman, *The Term Structure of Interest Rates*, 1962

[David Meiselman Quotes @MeiselmanEcon]

@HedgieMarkets An accelerating money supply is also the cause of rising interest rates. An important component of interest rates is inflation expectations. — David Meiselman, *Deficits, Money, and the Cause of Inflation*, Wall Street Journal, 1981

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@CNBC As a first approximation, the cost of Government is measured by the resources used in the public sector, not by the taxes we pay. — David Meiselman, *Testimony, Senate Finance Committee, public debt hearing, 1978*

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@BullTheoryio If everybody bets on 5% inflation, and we get 5% inflation, there isn't very much problem, but if everybody bets on 5%, and there isn't 5%, there's a lot of difficulty. — David Meiselman, *Radio interview, KSTP Minneapolis/St. Paul, December 6, 1968*

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@michaeljburry The Fed's printing press can influence short period variations in output but cannot permanently produce goods and services. — David Meiselman, *The Political Monetary Cycle*, Wall Street Journal, January 10, 1984

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"The annals of price history do not appear to have recorded a single era of stable prices."

— David Meiselman

*'Worldwide Inflation: A Monetarist View,' The Phenomenon of Worldwide Inflation, 1975*

#inflation #economics

[David Meiselman Quotes @MeiselmanEcon]

Takeaway 3: In May 1974 he brought rival economists to Washington to argue it out in the open. His money line: "the Fed rather than the fish in Peru is primarily responsible for our inflation woes." Full article: https://t.co/GDGJ1dAq6M

[David Meiselman Quotes @MeiselmanEcon]

In 1973, the price of oil quadrupled — and everyone blamed OPEC. David Meiselman said they were looking at the wrong culprit entirely. 🧵

[David Meiselman Quotes @MeiselmanEcon]

Takeaway 2: Oil can't explain worldwide inflation by itself. A supply shock makes one thing pricier — only expanding money makes everything pricier, everywhere. The oil shock was a wave; inflation was the tide.

[David Meiselman Quotes @MeiselmanEcon]

https://t.co/y9XpPwCgyV

[David Meiselman Quotes @MeiselmanEcon]

@steve_hanke @aecarri "The only way to stop inflation is to stop the excessive monetary growth which generates the inflation." — David Meiselman, The Advocates debate, 1979

[David Meiselman Quotes @MeiselmanEcon]

@MichaelAArouet 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

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"Nobody wants a recession, nobody wants a depression, or virtually nobody does."

— David Meiselman

*Radio interview, KSTP Minneapolis/St. Paul, December 6, 1968*

#economics #recession

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"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