“The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists.”
- July 21, 1899 – July 2, 1961
- American
- Novelist, poet, journalist
- Wrote masterpieces such as “The Old Man and the Sea,” “A Farewell to Arms,” and “For Whom the Bell Tolls,” and won the Nobel Prize in Literature in 1954
table of contents
Quote
“The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists.”
Explanation
In this quote, Hemingway critiques the short-term solutions that governments often turn to in times of economic or political crisis. He suggests that inflation and war are two tactics commonly used by political and economic opportunists to mask or temporarily solve the problems of a mismanaged nation. Inflation can create the illusion of economic prosperity by increasing the money supply, leading to short-term gains, while war often stimulates economic activity through increased government spending. However, Hemingway points out that both solutions come with long-term consequences: inflation leads to devaluation of currency and economic instability, while war causes loss of life, destruction, and economic collapse. Despite their damaging consequences, both are favored by opportunists because they allow for temporary advantages or distractions from deeper, more difficult issues.
Hemingway’s own experiences during World War I, as well as his observations of political instability in his time, likely shaped his views on how governments use crisis to manipulate public perception or stabilize their positions. In For Whom the Bell Tolls and other works, Hemingway often dealt with the human cost of war and the long-term devastation it brings, even when it seems to offer an economic or political boost in the short term. His critique of both inflation and war suggests that opportunism in politics and economics can lead to the exploitation of nations and people for personal gain, ultimately resulting in ruin for society as a whole.
In the modern context, this quote remains highly relevant, especially in times of economic crisis, political instability, or military conflict. The idea that politicians and leaders might resort to inflation or war as quick fixes to deeper structural issues reflects how nations sometimes prioritize short-term relief or economic stimulation without addressing the root causes of their problems. This strategy is often appealing to those in power who seek to maintain control or secure their positions, but it ultimately leads to long-term consequences for the nation and its people. Hemingway’s quote serves as a reminder to be cautious of temporary solutions that may have devastating long-term effects and to consider the true costs of such actions.
