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"China is a great manufacturing center, but it's actually mostly an assembly plant. So it assembles parts and components, high technology that comes from the surrounding industrial - more advanced industrial centers - Japan, Taiwan, South Korea, Singapore, the United States, Europe - and it basically assembles them."
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"Who buys has need of two eyes But one's enough to sell the stuff."
Author Name
Personal Development
"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
"So I got to thinking that perhaps that's what money is: a crystallization-or, rather, a homogenization-of time and free will into those things we call dollars and pounds and yen and euros. Money multiplies your time. It also expands your agency and broadens the number of things you can do accordingly. Big-time lottery winners haven't won ten million dollars-they've won ten thousand person-years of time to do pretty much anything they want anywhere on Earth. Windfalls are like the crystal meth version of time and free will."
Author Name
Personal Development
"It must be pointed out that the level of the total stock of money and of the value of the money unit are matters of complete indifference as far as the utility obtained from the use of the money is concerned. Society is always in enjoyment of the maximum utility obtainable from the use of money. Half of the money at the disposal of the community would yield the same utility as the whole stock, even if the variation in the value of the monetary unit was not proportioned to the variation in the stock of money."
Author Name
Personal Development
"Inequality of wealth and incomes is an essential feature of the market economy. It is the implement that makes the consumers supreme in giving them the power to force all those engaged in production to comply with their orders. It forces all those engaged in production to the utmost exertion in the service of the consumers. It makes competition work. He who best serves the consumers profits most and accumulatesriches."
Author Name
Personal Development
"An economist's guess is liable to be as good as anybody else's."
Author Name
Personal Development
"But here again it must be observed that this is a matter of a variation brought about through dynamic agencies. The static state, for which the contention attributed to the adherents of the mechanical version of the Quantity Theory would be valid, is disturbed by the fact that the exchange-ratios between individual commodities are necessarily modified. Under certain conditions, the technique of the market may have the effect of extending this modification to the exchange-ratio between money and other economic goods also."
Author Name
Personal Development
"The core of the doctrine consists in the proposition that the supply of money and the demand for it both affect its value. This proposition is probably a sufficiently good hypothesis to explain big changes in prices; but it is far from containing a complete theory of the value of money. It describes one cause of changes in prices; it is nevertheless inadequate for dealing with the problem exhaustively. By itself it does not comprise a theory of the value of money; it needs the basis of a general value theory. One after another, the doctrine of supply and demand, the cost-of-production theory, and the subjective theory of value have had to provide the foundations for the Quantity Theory."
Author Name
Personal Development
"If any of the socialist chiefs had tried to earn his living by selling hot dogs, he would have learned something about the sovereignty of the consumers."
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
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"Actually, Bush, technically speaking, is not really President-because he refused to take the Oath of Office. I don't know how many of you noticed this, but the wording of the Oath of Office is written in the Constitution, so you can't fool around with it-and Bush refused to read it. The Oath of Office says something about, I promise to do this, that, and the other thing, and Bush added the words, so help me God. Well, that's illegal: he's not President, if anybody cares."
Politics
"Unlimited economic growth has the marvelous quality of stilling discontent while maintaining privilege, a fact that has not gone unnoticed among liberal economists."
Quality
"Any dictator would admire the uniformity and obedience of the U.S. media."
Media
"The number of people killed by the sanctions in Iraq is greater than the total number of people killed by all weapons of mass destruction in all of history."
Consequence
"You never need an argument against the use of violence, you need an argument for it."
Argument
"States are not moral agents, people are, and can impose moral standards on powerful institutions."
People
"In this possibly terminal phase of human existence, democracy and freedom are more than just ideals to be valued - they may be essential to survival."
Survival
"My own concern is primarily the terror and violence carried out by my own state, for two reasons. For one thing, because it happens to be the larger component of international violence. But also for a much more important reason than that; namely, I can do something about it. So even if the U.S. was responsible for 2 percent of the violence in the world instead of the majority of it, it would be that 2 percent I would be primarily responsible for. And that is a simple ethical judgment. That is, the ethical value of one's actions depends on their anticipated and predictable consequences. It is very easy to denounce the atrocities of someone else. That has about as much ethical value as denouncing atrocities that took place in the 18th century."
Politics
"Well before September 11, it was understood that with modern technology, the rich and powerful will lose their near monopoly of the means of violence and can expect to suffer atrocities on home soil."
History
"It is important to bear in mind that political campaigns are designed by the same people who sell toothpaste and cars."
Politics
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