The following text ran as a full page advertisement for Metropolitan Life in the March 30, 1959 issue of Life magazine:

There IS A Cure For Inflation

To most people, inflation means that it costs more to set the table, more to clothe and house the family.

Inflation hurts everyone alike. It hurts farmers and city people, business and labor. It is not a political problem. It bears no party labels. It is a very serious economic problem for all our people.

Even a "little" inflation is bad

Some have suggested that a slight rise in prices each year is not harmful.

Economic history reveals that there is no such thing as a "little" inflation. As long as prices keep rising year after year, the value of the dollar declines and people -- particularly those on fixed incomes -- are seriously hurt.

What the government can do

The government can pay its current expenses out of current income. This calls for discipline and courage in government -- and it is particularly appropriate in prosperous times. A government deficit (or fear of future deficits) can keep people from saving because of the possible shrinkage of these savings through inflation. If we ever reach the point where the people believe that to speculate is safe -- but to save is to gamble -- then we are indeed in trouble.

What we can do to help

We can urge and actively support economies in government -- whether federal, state or local. This does not mean endangering national security or affecting vital services, but it does mean helping the government to limit spending to services which are truly necessary.

We should not run to the federal government for help on matters we ourselves should take of as individual citizens or through our local forms of government.

Cutting government expenditures is a job for everyone, if taxes and our government debt are to be reduced. Reduction of both is extremely important in our fight against inflation.

We can buy prudently. It is always wise to get full value for our money. But, in time of inflation, it is even more important.

We can save more. We are a saving nation. We must save to pay for the modernized or additional plant and equipment which industry needs to raise its productivity, and to make the increasing jobs our country must have. The more we save, the more we help ourselves … and the more value we give the dollar.

We can give a dollar's worth of value for every dollar we earn. Increased productivity is an effective way to help defeat inflation. Here is what President Eisenhower said about productivity:

"…if our efficiency does not increase, if our productivity does not rise, we … will tend to fall into the costly error of overpaying ourselves for the work we do. Along that road … lies the spur to further inflation."

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