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Exlpore more Economics quotes
"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."
"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."
"Miracle focus messages compels masses to think that the process of production is not necessary for prosperity."
"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 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."
"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."
"If wealth is a magnet, poverty is a kind of repellent."
"The big print giveth and the fine print taketh away."
Explore more quotes by John Steinbeck
"I have owed you this letter for a very long time-but my fingers have avoided the pencil as though it were an old and poisoned tool."
"I have never smuggled anything in my life. Why, then, do I feel an uneasy sense of guilt on approaching a customs barrier?"
"Everything seems to work with a recurring rhythm except life. There is only one birth and only one death. Nothing else is like that."
"You are one of the rare people who can separate your observation from your preconception. You see what is, where most people see what they expect."
"And don't worry about losing. If i is right, it happens - the main thing is not to hurry.Nothing good gets away."
"Why do men like me want sons?" he wondered. "It must be because they hope in their poor beaten souls that these new men, who are their blood, will do the things they were not strong enough nor wise enough nor brave enough to do. It is rather like another chance at life; like a new bag of coins at a table of luck after your fortune is gone."
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