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"Used to the conditions of a capitalistic environment, the average American takes it for granted that every year business makes something new and better accessible to him. Looking backward upon the years of his own life, he realizes that many implements that were totally unknown in the days of his youth and many others which at that time could be enjoyed only by a small minority are now standard equipment of almost every household. He is fully confident that this trend will prevail also in the future. He simply calls it the American way of life and does not give serious thought to the question of what made this continuous improvement in the supply of material goods possible."
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"When you don't come closer to the goal and don't make everyday steps for achieving it, we will not get the results we inwardly set out to attain."
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Personal Development
"It is reasonable to have perfection in our eye that we may always advance toward it, though we know it can never be reached."
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Personal Development
"Failure is only a step towards success."
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Personal Development
"If you take it step by step, you shall least miss a step!"
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Personal Development
"Your daily product determines how far you go."
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Personal Development
"Progress - the stride of God!"
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Personal Development
"There comes some special times that you got to keep "impossibility thinkers" behind you and walk with those are prepared to go forward with you because that is the only option to keep you going!"
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Personal Development
"The brutalities of progress are called revolutions. When they are over we realize this: that the human race has been roughly handled, but that it has advanced."
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Personal Development
"Nothing holds back human progress as frequently as the misbelief that the words 'impossible' and 'improbable' are synonyms."
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Personal Development
"In our seeking for economic and political progress, we all go up - or else we all go down."
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Personal Development
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"When a country has substituted credit money or fiat money for metallic money, because the legal equating of the over-issued paper and the metallic money sets in motion the mechanism described by Gresham's Law, it is often asserted that the balance of payments determines the rate of exchange. But this also is a quite inadequate explanation. The rate of exchange is determined by the purchasing power possessed by a unit of each kind of money."
Economics
"The balance-of-payments theory forgets that the volume of foreign trade is completely dependent upon prices, that neither exportation nor importation can occur if there are no differences in prices to make trade profitable."
Economics
"The collapse of an inflation policy carried to its extreme -- as in the United States in 1781 and in France in 1796 -- does not destroy the monetary system, but only the credit money or fiat money of the State that has overestimated the effectiveness of its own policy. The collapse emancipates commerce from etatism and establishes metallic money again."
Currency
"Against what is stupid, nonsensical, erroneous, and evil, [classical] liberalism fights with the weapons of the mind, and not with brute force and repression."
Politics
"The root of the evil is not the construction of new, more dreadful weapons. It is the spirit of conquest."
Politics
"Local differences in the prices of commodities whose natures are technologically identical are to be explained on the one hand by differences in the cost of preparing them for consumption (expenses of transport, cost of retailing etc.) and on the other hand by the physical and legal obstacles that restrict the mobility of commodities and human beings."
Trade
"They did not suffer shipwreck because the entrepreneurs were not public-spirited, as the socialist-etatistic legend has it. They were bound to fail because the economic organization based upon division of labour and private property in the means of production can function only so long as price-determination in the market is free."
Economics
"For the etatist, money is a creature of the State, and the esteem in which money is held is the economic expression of the respect or prestige enjoyed by the State. The more powerful and the richer the State, the better its money. Thus, during the War, it was asserted that 'the monetary standard of the victors' would ultimately be the best money. Yet victory and defeat on the battlefield can exercise only an indirect influence on the value of money."
Economics
"Restrictionistic ideas have never met with any measure of popular sympathy except after a time of monetary depreciation when it has been necessary to decide what should take the place of the abandoned inflationary policy."
Economics
"It is not in the power of governments to increase the supply of one commodity without a corresponding restriction in the supply of other commodities more urgently demanded by consumers. The authority may reduce the price of one commodity only by raising the prices of others."
Economics
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