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Quote by Sumner Slichter

“The greatest danger to an adequate old-age security plan is rising prices. A rise of 2% a year in prices would cut the purchasing power of pensions about 45% in 30 years. The greatest danger of rising prices is from wages rising faster than output per man-hour.... Whether the nation succeeds in providing adequate security for retired workers depends in large measure upon the wage policies of trade unions.”

Quote by Sumner Slichter

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Sumner Slichter

Sumner Slichter was a distinguished economist, born in 1892 and died in 1959. He had a profound impact on the field of economics, particularly in the areas of industrial organization, antitrust policy, and public economics. more

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