Mere inflation-that is, the mere issuance of more money, with the consequence of higher wages and prices-may look like the creation of more demand. But in terms of the actual production and exchange of real things it is not.
A man who is good from docility, and not from stern self-control, has no character.
The demoralization that the debasement of the currency left in its wake played a major role in bringing Adolf Hitler into power in 1933.
To try to cure unemployment by inflation rather than by adjustment of specific wage-rates is like trying to adjust the piano to the stool rather than the stool to the piano.
need is not demand. Effective economic demand requires not merely need but corresponding purchasing power.
Nothing is easier to achieve than full employment, once it is divorced from the goal of full production and taken as an end in itself
If we try to run the economy for the benefit of a single group or class, we shall injure or destroy all groups, including the members of the very class for whose benefit we have been trying to run it. We must run the economy for everybody
When the government makes loans or subsidies to business, what it does is to tax successful private business in order to support unsuccessful private business.
..either immediately or ultimately every dollar of government spending must be raised through a dollar of taxation. Once we look at the matter. In this way, the supposed miracles of government spending will appear in another light.
What is put into the hands of B cannot be put into the hands of A.
A strong passion for any object will ensure success, for the desire of the end will point out the means.