TOPICS OF THE DAY
Financing the War “By one means or another the State is going to lay its hands on half, or more, of the resources of goods and labour annually available to the British public. It will do this by taxation, by borrowing the savings of the people, or by driving up prices through inflationary methods. The only thing that financial policy can do is to distribute the burden equitably and limit the social disturbance that its imposition involves. There is almost universal agreement that equity is at a minimum and disturbance at a maximum if the inflationary method is chosen. The course of wisdom for the public to pursue in wartime is, therefore, to pay as much of its income as it conceivably can in taxes, to save as much of the remainder as it can contrive, and to make as little as possible of its necessary sacrifice by the route of raising prices."—The Economist. -
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https://paperspast.natlib.govt.nz/newspapers/WT19400408.2.31
Bibliographic details
Waikato Times, Volume 126, Issue 21082, 8 April 1940, Page 6
Word Count
158TOPICS OF THE DAY Waikato Times, Volume 126, Issue 21082, 8 April 1940, Page 6
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