top of page
.png){kind=small}
Exlpore more Economics quotes
"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."
"I saw the poverty, I say the prosperity. Both have fundamental problems."
"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."
"The mistake in the argument of those who suppose that a variation in the quantity of money results in an inversely proportionate variation in its purchasing power lies in its starting-point. If we wish to arrive at a correct conclusion, we must start with the valuations of separate individuals; we must examine the way in which an increase or decrease in the quantity of money affects the value-scales of individuals, for it is from these alone that variations in the exchange-ratios of goods proceed."
"It has been proposed that monetary liabilities should be settled in terms of gold and not according to their nominal amount. If this proposal were adopted, for each mark that had been borrowed that sum would have to be repaid that could at the time of repayment buy the same weight of gold as one mark could at the time when the debt contract was entered into. The fact that such proposals are now put forward and meet with approval shows that etatism has already lost its hold on the monetary system and that inflationary policies are inevitably approaching their end. Even only a few years ago, such a proposal would either have been ridiculed or else branded as high treason."
"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."
"The attempt to restrain prices within limits has to be given up. A government that sets out to abolish market prices is inevitably driven towards the abolition of private property."
"It is the consumers who make poor people rich and rich people poor."
"If you despise increase, you are a strange personality in the society."
Explore more quotes by Ayn Rand
"Every man builds his world in his own image. He has the power to choose, but no power to escape the necessity of choice."
"From this simplest necessity to the highest religious abstraction, from the wheel to the skyscraper, everything we are and everything we have comes from a single attribute of man-the function of his reasoning mind."
"There is no escape from justice, nothing can be unearned and unpaid for in the universe, neither in matter nor in spirit-and if the guilty do not pay, then the innocent have to pay it."
"It only stands to reason that where there's sacrifice, there's someone collecting the sacrificial offerings. Where there's service, there is someone being served. The man who speaks to you of sacrifice is speaking of slaves and masters, and intends to be the master."
"It was the only thing I ever really wanted. And that's the sin that can't be forgiven-that I hadn't done what I wanted. It feels so dirty and pointless and monstrous, as one feels about insanity, because there's no sense to it, no dignity, nothing but pain-and wasted pain...why do they always teach us that it's easy and evil to do what we want and that we need discipline to restrain ourselves? It's the hardest thing in the world-to do what we want. And it takes the greatest kind of courage."
"A desire presupposes the possibility of action to achieve it; action presupposes a goal which is worth achieving."
"The only pride of her workday was not that it had been lived, but that it had been survived. It was wrong, she thought, it was viciously wrong that one should ever be forced to say that about any hour of one's life."
"We fell, but we never let the box fall from our hands. Then we ran. We ran blindly, and men and houses streaked past us in a torrent without shape."
"In the many months of his absence, she never wondered whether he was true to her or not; she knew he was. She knew, even though she was too young to know the reason, that indiscriminate desire and unselective indulgence were possible only to those who regarded sex and themselves as evil."
bottom of page