George MacKinnon

"People like the effects of inflation on income but not on living costs. And so, while talk of halting inflation is common enough, anything actually done to gain that end would prove unpopular with some group. It has become a national pastime to blame everyone else for inflation—a pastime in which the Truman administration has participated freely. We suppose that is part of the price of an era in which too many people have come to expect Government to socialize their losses and individualize their gains—if the gains fall below certain brackets."