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"That policy which aims at raising the objective exchange-value of money is called, after the most important means at its disposal, restrictionism or deflationism. This nomenclature does not really embrace all the policies that aim at an increase in the value of money. The aim of restrictionism may also be attained by not increasing the quantity of money when the demand for it increases, or by not increasing it enough. This method has quite often been adopted as a way of increasing the value of money in face of the problems of a depreciated credit-money standard."
Author Name
Personal Development
"Neither has the wealth of a country any bearing on the valuation of its money. Nothing is more erroneous than the widespread habit of regarding the monetary standard as something in the nature of the shares of the State or the community.Such observers fail to recognize that the valuation of the rnonetary unit does not depend upon the wealth of the country, but upon the ratio between the quantity of money and the demand for it, so that even the richest country may have a bad currency and the poorest country a good one."
Author Name
Personal Development
"Miracle focus messages compels masses to think that the process of production is not necessary for prosperity."
Author Name
Personal Development
"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."
Author Name
Personal Development
"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."
Author Name
Personal Development
"The agents of etatism have certainly not been lacking in zeal and energy. But, for all this, economic affairs cannot be kept going by magistrates and policemen."
Author Name
Personal Development
"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."
Author Name
Personal Development
"A variation in the objective exchange-value of money can arise only when a force is exerted in one direction that is not cancelled by a counteracting force in the opposite direction. If the causes that alter the ratio between the stock of money and the demand for it from the point of view of an individual consist merely in accidental and personal factors that concern that particular individual only, then, according to the law of large numbers, it is likely that the forces arising from this cause, and acting in both directions in the market, will counterbalance each other."
Author Name
Personal Development
"If wealth is a magnet, poverty is a kind of repellent."
Author Name
Personal Development
"The big print giveth and the fine print taketh away."
Author Name
Personal Development
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"My past conduct was so transparent and so honest that when my enemies spread rumours about me nobody believed them."
Honesty
"People won't respect you until you achieve the respectable goals."
Achievement
"In the men I love heroes, in the work I love heroism."
Heroism
"Don't compete with your friends to win a date with few beautiful girls, but compete to win few beautiful goals."
Competition
"Don't live your life like an attempt, because if you fail there is no second attempt."
Life
"All the successful personalities had one common element, they all liked reading books."
Success
"Smile on the face or innocence on the face is as attractive as beauty on the face."
Beauty
"Let's get one thing clear, there may be few or many successful people in your profession, but there is going to be only one hero in that profession."
Success
"The job of feets is walking, but their hobby is dancing."
Dance
"A lamp cannot play the role of the Sun and the Sun cannot play the role of a lamp."
Life
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