947 quotes found
“Consistently and uninterruptedly continued inflation must eventually lead to collapse. The purchasing power of money will fall lower and lower, until it eventually disappears altogether. It is true...”
“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 o...”
“But it must be observed that as the depreciation of money proceeds, the demand for money (i.e. for the kind of money in question) gradually begins to fall. When loss of wealth is suffered in propor...”
“The collapse of an inflation policy carried to its extreme -- as in the United States in 1781 and in France in 1796 -- does not destroy the monetary system, but only the credit money or fiat money ...”
“We have already examined one of the objections that have been brought against the Quantity Theory; the objection that it only holds good ceteris paribus. No more tenable as an objection against the...”
“The sums of money collected in hoards lie there idle, waiting for the moment when commerce needs them for maintaining the stability of the objective exchange-value of money; and all those sums of m...”
“What is called storing money is a way of using wealth. The uncertainty of the future makes it seem advisable to hold a larger or smaller part of one's possessions in a form that will facilitate a c...”
“The doctrine of the importance of hoards for stabilizing the objective exchange-value of money has gradually lost its adherents with the passing of time. Nowadays its supporters are few.”
“Economic history shows us a continual increase in the demand for money. The characteristic feature of the development of the demand for money is its intensification; the growth of division of labou...”
“The aim was to regulate the value of money by increasing or diminishing the quantity of it. The effects of these measures appeared to provide an inductive proof of the correctness of this superfici...”
“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 mechani...”
“Money is not indefinitely divisible. Even with the assistance of money-substitutes for expressing fractional sums that for technical reasons cannot conveniently be expressed in the actual monetary ...”
“The moneyprice of any commodity in any place, under the assumption of completely unrestricted exchange and disregarding the differences arising from the time taken in transit, must be the same as t...”
“We can easily imagine a monetary organization which, by the exclusive use of notes or clearing-house methods, allows all transfers to be made with the instrumentality of sums of money that never ch...”
“Local differences in the prices of commodities whose natures are technologically identical are to be explained on the one hand by differences in the cost of preparing them for consumption (expenses...”
“Hence, the statement that the cost of living is different in different localities only means that the same individual cannot secure the same degree of satisfaction from the same stock of goods in d...”
“To recapitulate: the exchange-ratio subsisting between commodities and money is everywhere the same. But men and their wants are not everywhere the same, and neither are commodities. Only if these ...”
“It is true that there are important differences between that money which plays the chief part in domestic trade, is the instrument of most exchanges, predominates in the dealings between consumers ...”
“No individual and no nation need fear at any time to have less money than it needs. Government measures designed to regulate the international movement of money in order to ensure that the communit...”
“Nevertheless statesmen are still greatly exercised by the problem of the international distribution of money. For hundreds of years, the Midas Theory, systematized by Mercantilism, has been the rul...”
