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"We all know how 'modern democracies take loaves from the wealthy.' It's the slipups in the 'pass them out to the poor' department that inspire a study of Economics."
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"We can easily imagine a monetary organization which, by the exclusive use of notes or clearing-house methods, allows all transfers to be made with the instrumentality of sums of money that never change their position in space.If differences due to the geographical position of money are disregarded in this way, we get the following law for the exchange-ratio between money and other economic goods: every economic good, that is ready for consumption (in the sense in which that phrase is usually understood in commerce and technology), has a subjective use-value qua consumption good at the place where it is and qua production good at those places to which it may be brought for consumption."
"The State does not govern the market; in the market in which products are exchanged it may quite possibly be a powerful party, but nevertheless it is only one party of many, nothing more than that. All its attempts to transform the exchange-ratios between economic goods that are determined in the market can only be undertaken with the instruments of the market."
"No individual and no nation need fear at any time to have less money than it needs. Government measures designed to regulate the international movement of money in order to ensure that the community shall have the amount it needs, are just as unnecessary and inappropriate as, say, intervention to ensure a sufficiency or corn or iron or the like. This argument dealt the Mercantilist Theory its death-blow."
"Let us merely discuss the question, what consequences would necessarily follow if, ceteris paribus, with an increasing quantity of money, prices were restricted to the old level by official compulsion? An increase in the quantity of money leads to the appearance in the market of new desire to purchase, which had previously not existed; 'new purchasing power', it is usual to say, has been created. If the new would-be purchasers compete with those that are already in the market, then, so long as it is not permissible to raise prices, only part of the total purchasing power can be exercised."
"Some regard private enterprise as if it were a predatory tiger to be shot. Others look upon it as a cow that they can milk. Only a handful see it for what it really is--the strong horse that pulls the whole cart."
"If the State uses this power systematically in order to force the community to accept a particular sort of money whose employment it desires for reasons of monetary policy, then it is actually carrying through a measure of monetary policy. The States which completed the transition to a gold standard a generation ago, did so from motives of monetary policy. They gave up the silver standard or the credit-money standard because they recognized that the behaviour of the value of silver or of credit money was unsuited to the economic policy they were following."
"My first undertaking in the way of scientific experiment was in the field of economics and psychology."
Explore more quotes by P. J. O'Rourke
"Computers seem a little too adaptively flexible, like the strange natives, odd societies, and head cases we study in the social sciences. There's more opposable thumb in the digital world than I care for; it's awfully close to human."
"The great majority of Baghdad is a slum - a lot of it's new, but it's still slum. It's usually this concrete-block, one-room design with a door and a window, arranged one-up, one-down, often with a shop with nothing in it on the first floor, and then a one-room apartment above it. There's street after street after street of that stuff."
"America wasn't founded so that we could all be better. America was founded so we could all be anything we damned well pleased."
"When buying and selling are controlled by legislation, the first things to be bought and sold are legislators."
"The car provided Americans with an enviable standard of living. You could not get a steady job with high wages and health and retirement benefits working on the General Livestock Corporation assembly line putting udders on cows."
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