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"Granted, many of them replied, that socialism may not result in riches for all but rather in a smaller production of wealth; nevertheless the masses will be happier under socialism, because they will share their worries with all their fellow citizens, and there will not be wealthier classes to be envied by poorer ones. The starving and ragged workers of Soviet Russia, they tell us, are a thousand times more joyful than the workers of the West who live under conditions which are luxurious compared to Russian standards; equality in poverty is a more satisfactory state than well-being where there are people who can flaunt more luxuries than the average man."
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"Though the earth contains greater energy and mass than any single being, linked together, "people make the world go-round"."
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Personal Development
"William Cowper said that God made the country, and man made the town. If it was the opposite, there would be no country; because town can be created from the country but the country cannot be created from the town!"
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Personal Development
"Bureaucracy is a huge beast; deeply rooted, it exists even among artists; it's an almost losing battle against it."
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Personal Development
"Why, because an author has more rights than ordinary people, as everybody knows. People will stand much more from him."
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Personal Development
"Saying someone is religious is heard in most of America as a compliment, a reassuring affirmation that someone will be moral, ethical, and after a few glasses of wine, a freak in the bedroom."
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Personal Development
"Show me a man who lives alone and has a perpetually clean kitchen, and 8 times out of 9 I'll show you a man with detestable spiritual qualities."
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Personal Development
"More than anything else, we need in this society the opportunity for people to tell us what they think without being told that they're either dumb, or stupid, or uninformed."
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Personal Development
"Shyness is a luxury reserved for those who are above the poverty line. To a beggar, being shy is deadly."
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Personal Development
"When a man's girlfriend's parents ask him what it is that he does for a living: they're not really concerned about him, they're concerned about their daughter's tummy."
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Personal Development
"The use of fashions in thought is to distract men from their real dangers. We direct the fashionable outcry of each generation against those vices of which it is in the least danger, and fix its approval on the virtue that is nearest the vice which we are trying to make endemic. The game is to have them all running around with fire extinguishers whenever there's a flood; and all crowding to that side of the boat which is already nearly gone under."
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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
"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
"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
"Nevertheless statesmen are still greatly exercised by the problem of the international distribution of money. For hundreds of years, the Midas Theory, systematized by Mercantilism, has been the rule followed by governments in taking measures of commercial policy. In spite of Hume, Smith, and Ricardo, it still dominates men's minds more than would be expected. Phoenix-like, it rises again and again from its own ashes."
Economics
"If the possessor of a units of money receives h additional units, then it is not at all true to say that he will value the total stock a + h exactly as highly as he had previously valued the stock a alone. Because he now has disposal over a larger stock, he will now value each unit less than he did before; but how much less will depend upon a whole series of individual circumstances, upon subjective valuations that will be different for each individual."
Economics
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