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"But so few of us think clearly about our own private incomes, and admit that independent thoughts are in nine cases out of ten the result of independent means."
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"There is not the slightest analogy between playing games and the conduct of business within a market society. The card player wins money by outsmarting his antagonist. The businessman makes money by supplying customers with goods they want to acquire."
"It is the beginning of the 'demonetization' of the notes. The process is hastened by its panic-like character. It may be possible once, twice, perhaps even three or four times, to allay the fears of the public; but eventually the affair must run its course and then there is no longer any going back. Once the depreciation is proceeding so rapidly that sellers have to reckon with considerable losses even if they buy again as quickly as is possible, then the position of the currency is hopeless."
"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."
"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."
"Let us merely discuss the question, what consequences would necessarily follow if, ceteris paribus, with an increasing quantity of money, prices were restricted to the old level by official compulsion? An increase in the quantity of money leads to the appearance in the market of new desire to purchase, which had previously not existed; 'new purchasing power', it is usual to say, has been created. If the new would-be purchasers compete with those that are already in the market, then, so long as it is not permissible to raise prices, only part of the total purchasing power can be exercised."
"One of the Great Rules of Economics According to John GreenIf you are rich, you have to be an idiot not to stay rich. And if you are poor, you have to be really smart to get rich."
"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."
"But when States did debase the coinage, it was always from purely fiscal motives. The government needed financial help, that was all; it was not concerned with questions of currency policy."
"Some regard private enterprise as if it were a predatory tiger to be shot. Others look upon it as a cow that they can milk. Only a handful see it for what it really is--the strong horse that pulls the whole cart."
Explore more quotes by E. M. Forster
"Expansion. That is the idea the novelist must cling to. Not completion. Not rounding off, but opening out."
"It is not difficult to stand above the conventions when we leave no hostages among them; men can always be more unconventional than women, and a bachelor of independent means need encounter no difficulties at all."
"People have their own deaths as well as their own lives, and even if there is nothing beyond death, we shall differ in our nothingness."
"Mr. Pembroke, watching his broad back, desired to bury a knife in it. The desire passed, partly because it was unclerical, partly because he had no knife, and partly because he soon blurred over what had happened. To him all criticism was "rudeness": he never heeded it, for he never needed it: he was never wrong."
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