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."
"In order to deal with all the medical cost demands and other challenges in the U.S., as we look to raise that revenue, the rich will have to pay slightly more. That's quite clear."
"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."
"Even when repressed, inequality grows; only the man who is below the average in economic ability desires equality; those who are conscious of superior ability desire freedom, and in the end superior ability has its way."
"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."
"The three wealthiest people in the world own more than the GDP of forty-eight countries!"
"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."
Explore more quotes by John Steinbeck
"Time interval is a strange and contradictory matter in the mind. It would be reasonable to suppose that a routine time or an eventless time would seem interminable. It should be so, but it is not. It is the dull eventless times that have no duration whatever. A time splashed with interest, wounded with tragedy, crevassed with joy - that's the time that seems long in the memory. And this is right when you think about it. Eventlessness has no posts to drape duration on. From nothing to nothing is no time at all."
"But think of the glory of the choice! That makes a man a man. A cat has no choice, a bee must make honey. There's no godliness there."
"...many a trip continues long after movement in time and space have ceased. I remember a man in Salinas who in his middle years traveled to Honolulu and back, and that journey continued for the rest of his life. We could watch him in his rocking chair on his front porch, his eyes squinted, half-closed, endlessly traveling to Honolulu."
"We gather our arms full of guilt as though it were precious stuff. It must be that we want it that way."
"Lanser had been in Belgium and France twenty years before and he tried not to think what he knew-that war is treachery and hatred, the muddling of incompetent generals, the torture and killing and sickness and tiredness, until at last it is over and nothing has changed except for new weariness and new hatreds."
"I hold that a writer who does not passionately believe in the perfectibility of man has no dedication nor any membership in literature."
"I always found in myself a dread of west and love of east. Where I ever got such an idea I cannot say, unless it could be that morning came over the peaks of the Gabilans and the night drifted back from the ridges of the Santa Lucias. It may be that the birth and death of the day had some part in my feeling about the two ranges of mountains."
"Seems to me you put too much stock in the affairs of children. It probably didn't mean anything." "Yes, it meant something. Mr. Trask, do you think the thoughts of people suddenly become important at a given age? Do you have sharper feelings or clearer thoughts now than when you were ten? Do you see as well, hear as well, taste as vitally?"
bottom of page