Money creation | Quotes about the magic of money

"You never can cure poverty. Poverty is in the eye of the beholder." Milton Friedman

"The most important single central fact about a free market is that no exchange takes place unless both parties benefit." Milton Friedman

"The economic miracle that has been the United States was not produced by socialized enterprises, by government-unon-industry cartels or by centralized economic planning. It was produced by private enterprises in a profit-and-loss system. And losses were at least as important in weeding out failures, as profits in fostering successes. Let government succor failures, and we shall be headed for stagnation and decline." Milton Friedman

"Secondly, as a result of this political favoritism, the FDA has become a primary factor in that formula whereby cartel-oriented companies in the food and drug industry are able to use the police powers of government to harass or destroy their free-market competitors." G. Edward Griffin

"In the North, neither greenbacks, taxes, nor war bonds were enough to finance the war. So a national banking system was created to convert government bonds into fiat money, and the people lost over half of their monetary assets to the hidden tax of inflation. In the South, printing presses accomplished the same effect, and the monetary loss was total." G. Edward Griffin

"Why pay a dollar for a bookmark? Why not use the dollar for a bookmark?" Steven Spielberg

"The only reason there is a crisis about Social Security in the US and pensions in Europe and Japan is that you cannot maintain a "Ponzi" scheme indefinitely. We have collected from today's young to pay today's old and counted on tomorrow's young to keep doing so. That was a fine scheme as long as the number of young people was rising faster than old people. When that ratio comes to an end, such a system also has to end." Milton Friedman

"The key insight of Adam Smith's Wealth of Nations is misleadingly simple: if an exchange between two parties is voluntary, it will not take place unless both believe they will benefit from it. Most economic fallacies derive from the neglect of this simple insight, from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another." Milton Friedman

"Schools [are]...institutions monopolizing the daytimes of childhood." John Taylor Gatto

"Forests and meat animals compete for the same land. The prodigious appetite of the affluent nations for meat means that agribusiness can pay more than those who want to preserve or restore the forest. We are, quite literally, gambling with the future of our planet – for the sake of hamburgers" Peter Albert David Singer

"The public is not cognizant of the real value of education, and does not realize that education as a social force is not receiving the kind of attention it has the right to expect in a democracy." Edward Bernays

"A consistent anarchist must oppose private ownership of the means of production, and the wage-slavery which is a component of this system, as incompatible with the principle that labor must be freely undertaken and under the control of the producer." Noam Chomsky

"The household became the place where the consumption of wages takes place." Ivan Illich

"In the 1930s, unemployed working people could anticipate that their jobs would come back." Noam Chomsky