Thus, spending and housing investment by households as well as business fixed investment by firms will be rejuvenated further. A steady increase in aggregate demand will lead to a persistent rise in prices; henceforth, a virtuous cycle of economic recovery and rise in prices will be generated.
But those words were not spoken with our current situation in mind. They were spoken by Jean Monnet in 1974. They illustrate that if his leadership has been so powerful, it is not just because of what he achieved in his lifetime: it is because Jean Monnet developed a method of government whose effectiveness extends beyond the special circumstances in which he lived.