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Exlpore more Economics quotes
"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."
"Miracle focus messages compels masses to think that the process of production is not necessary for prosperity."
"There is not the slightest analogy between playing games and the conduct of business within a market society. The card player wins money by outsmarting his antagonist. The businessman makes money by supplying customers with goods they want to acquire."
"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."
"Inequality of wealth and incomes is an essential feature of the market economy. It is the implement that makes the consumers supreme in giving them the power to force all those engaged in production to comply with their orders. It forces all those engaged in production to the utmost exertion in the service of the consumers. It makes competition work. He who best serves the consumers profits most and accumulatesriches."
"The oldest and most popular instrument of etatistic monetary policy is the official fixing of maximum prices. High prices, thinks the etatist, are not a consequence of an increase in the quantity of money, but a consequence of reprehensible activity on the part of 'bulls' and 'profiteers'; it will suffice to suppress their machinations in order to ensure the cessation of the rise of prices. Thus it is made a punishable offence to demand, or even to pay, 'excessive' prices."
"It is the beginning of the 'demonetization' of the notes. The process is hastened by its panic-like character. It may be possible once, twice, perhaps even three or four times, to allay the fears of the public; but eventually the affair must run its course and then there is no longer any going back. Once the depreciation is proceeding so rapidly that sellers have to reckon with considerable losses even if they buy again as quickly as is possible, then the position of the currency is hopeless."
"When the price of coal falls because production has increased while demand has remained unaltered, then, for example, those retailers are involved who have taken supplies from the wholesale dealers at the old higher price but are now able to dispose of them only at the new and lower price. But this alone will not account for all the social changes brought about by the increase of production of coal. The increase in the supply of coal will have improved the economic position of the community."
"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."
Explore more quotes by Stefan Molyneux
"You are constantly being trained to be heroic only in the service of your masters - only in slaughter and sacrifice and subjugation. But there is no heroism in serving your masters. Real heroism is questioning why you have masters at all.All these stories, all these fantasies, all these superpowers - are designed to steal heroism from you, to make it impossible, fantastical, remote, and unachievable - and make you useful to your masters (as a hit man, if needed). What is the opposite of this?The opposite of fantasy is philosophy. The opposite of mythology is integrity. And integrity is truth in action."
"Can social progress be made without government?It's like saying 'can happiness be achieved without the initiation of violence? Can romance be achieved without rape? Can profitability be achieved without theft? Can economic growth be achieved without the mass indebted enslavement and counterfeiting of the federal reserve?'."
"If there's more that you can do, then do it. If there's not more that you can do, then be content with what you're doing. But if there is despair, the despair can only be that you can do more. Because when you're doing as much as you can do, you will not feel despair. Because despair is the gap between what you could be doing and what you are doing."
"Record what you can, pursue your passions, connect with the world, fight the good fight, defy evil, shine incandescently as best you can. And it doesn't matter what field it's in but, it does matter that we leave something that accumulates over time."
"To be yourself is in many ways to be inconvenient to others. Only placaters and appeasers get along with other people all the time and that's not really getting along with anyone. That's just self erasure."
"If you are for gun control, then you are not against guns, because the guns will be needed to disarm people. So it's not that you are anti-gun. You'll need the police's guns to take away other people's guns. So you're very pro-gun; you just believe that only the Government (which is, of course, so reliable, honest, moral and virtuous) should be allowed to have guns. There is no such thing as gun control. There is only centralizing gun ownership in the hands of a small political elite and their minions."
"What we do not confront, we inhabit.What we do not reject, we accept.What we do not fight, we become."
"We have to HIDE from each other because we think that we are the only ones BROKEN. We think we're the only ones whose original selves we ground up and smashed under the jack-booted heel of cultural lies and superstition, patriotism, war lust, war hunger, and a denial of AGGRESSION AGAINST CHILDREN THAT IS THE FOUNDATION OF CULTURE. Culture is everything that is NOT TRUE. If it's true, it's called 'math' or 'science' or 'facts'. Culture is the Stockholm syndrome we have with the historical lies that are convenient to the rules. We love the lies, because we don't think we can be loved if we don't."
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