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"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."
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Exlpore more Economics quotes
"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."
"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."
"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."
"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."
"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."
"Riches are for spending."
"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."
Explore more quotes by Noam Chomsky
"International affairs is very much run like the mafia. The godfather does not accept disobedience, even from a small storekeeper who doesn't pay his protection money. You have to have obedience; otherwise, the idea can spread that you don't have to listen to the orders, and it can spread to important places."
"I am not a committed pacifist. I would not hold that it is under all imaginable circumstances wrong to use violence, even though use of violence is in some sense unjust. I believe that one has to estimate relative justices. But the use of violence and the creation of some degree of injustice can only be justified on the basis of the claim and the assessment-which always ought to be undertaken very, very seriously and with a good deal of scepticism that this violence is being exercised because a more just result is going to be achieved."
"For a privileged minority, Western democracy provides the leisure, the facilities, and the training to seek the truth lying hidden behind the veil of distortion and misrepresentation, ideology and class interest, through which the events of current history are presented to us."
"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."
"In 1993, Israel and North Korea were moving towards an agreement in which North Korea would stop sending any missiles or military technology to the Middle East and Israel would recognize that country. President Clinton intervened and blocked it."
"People who call themselves supporters of Israel are actually supporters of its moral degeneration and ultimate destruction."
"In many respects, the United States is a great country. Freedom of speech is protected more than in any other country. It is also a very free society. In America, the professor talks to the mechanic. They are in the same category."
"In mathematics, in physics, people are concerned with what you say, not with your certification. But in order to speak about social reality, you must have the proper credentials, particularly if you depart from the accepted framework of thinking. Generally speaking, it seems fair to say that the richer the intellectual substance of a field, the less there is a concern for credentials, and the greater is concern for content."
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