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"If men do not now succeed in abolishing war, civilization and mankind are doomed."
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"When a man is wrapped up in himself, he makes a pretty small package."
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Personal Development
"The ideas gained by men before they are twenty-five are practically the only ideas they shall have in their lives."
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Personal Development
"It is the child in man that is the source of his uniqueness and creativeness, and the playground is the optimal milieu for the unfolding of his capacities and talents."
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Personal Development
"All free men, wherever they may live, are citizens of Berlin. And therefore, as a free man, I take pride in the words "Ich bin ein Berliner!""
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Personal Development
"Most people know no other way of judging men's worth but by the vogue they are in, or the fortunes they have met with."
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Personal Development
"The historian must have some conception of how men who are not historians behave. Otherwise he will move in a world of the dead. He can only gain that conception through personal experience, and he can only use his personal experiences when he is a genius."
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Personal Development
"The mountains, the forest, and the sea, render men savage; they develop the fierce, but yet do not destroy the human."
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Personal Development
"A man seldom thinks with more earnestness of anything than he does of his dinner."
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Personal Development
"As I've gotten older I look like a man, finally."
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Personal Development
"I hold the world but as the world, Gratiano; A stage where every man must play a part, And mine is a sad one."
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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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