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"For their never-ending endeavours to obtain or retain wealth, countries desperately need companies, because they-unlike most human beings-have the means of production, and human beings, because they-unlike all companies-have the means of reproduction."
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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."
"I saw the poverty, I say the prosperity. Both have fundamental problems."
"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."
"A third group of inflationists do not deny that inflation involves serious disadvantages. Nevertheless, they think that there are higher and more important aims of economic policy than a sound monetary system. They hold that although inflation may be a great evil, yet it is not the greatest evil, and that the State might under certain circumstances find itself in a position where it would do well to oppose greater evils with the lesser evil of inflation."
"A metallic money, the augmentation or diminution of the quantity of metal available for which is independent of deliberate human intervention, is becoming the modern monetary ideal. The significance of adherence to a metallic-money system lies in the freedom of the value of money from State influence that such a system guarantees."
"The advertising industry's prime task is to ensure that uninformed consumers make irrational choices, thus undermining market theories that are based on just the opposite."
"The moneyprice of any commodity in any place, under the assumption of completely unrestricted exchange and disregarding the differences arising from the time taken in transit, must be the same as the price at any other place, augmented or diminished by the money-cost of transport."
Explore more quotes by Mokokoma Mokhonoana
"To be better equipped for the tests that the year will bring - read a textbook. To prepare for the tests that life will bring - read a book."
"Life sometimes reminds us that it is sometimes heartless by giving something or someone we really need to someone who does not need or even want them or it."
"If employment really cared about employees, people wouldn't have to work until retirement comes to their rescue."
"Today, the world rewards those with creative and intellectual muscles. So, women and skinny men need to shut up and start thinking."
"You don't really need to be intelligent to be a 'top student.' All that you have to do is to forget the least in an exam."
"Most sane human beings who are over the age of six usually act or react not as per what they genuinely feel or really think but in accordance with the expectations of those around them."
"An ignorant man who is regarded as knowledgeable by people who are more ignorant than him is still ignorant."
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