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Quote by Peter L. Berger

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The capitalist revolution: fifty propositions about prosperity, equality, and liberty

This book delves into the core ideas of capitalism, presenting fifty propositions that discuss the interplay between prosperity, equality, and liberty in the context of economic systems. more

Author

Peter L. Berger
Peter L. Berger

Peter L. Berger, born on March 17, 1929, is an esteemed sociologist known for his work in the fields of religious sociology and theories of modernity. His research has had a profound impact on contemporary sociology. more

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“It makes no difference to a widow with her savings in a 5 percent passbook account whether she pays 100 percent income tax on her interest income during a period of zero inflation or pays no income tax during years of 5 percent inflation. Either way, she is 'taxed' in a manner that leaves her no real income whatsoever. Any money she spends comes right out of capital. She would find outrageous a 100 percent income tax but doesn't seem to notice that 5 percent inflation is the economic equivalent.”