Money Does Not Pay – Albert Jay Nock Quote

„Money does not pay for anything, never has, never will. It is an economic axiom as old as the hills that goods and services can be paid for only with goods and services.“

Albert Jay NockAlbert Jay Nock explains that money does not pay for goods or services but only exchanges with them.
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Albert Jay Nock was an American libertarian author, editor, educational theorist, Georgist, and social critic.

Quote by Albert Jay Nock about the true role of money in the economy.


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Albert Jay Nock quote about money, goods, and services

Albert Jay Nock (1870–1945) was a prominent American writer and social critic known for his libertarian views and critique of the state. He was also an editor and educational theorist and supported the economic philosophy of Georgism.

Murray Rothbard quote about money, scarcity, and the effects of increasing the money supplyCopyright © yoice.net – Quote Artwork
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"Money is different from all other commodities: other things being equal, more shoes, or more discoveries of oil or copper benefit society, since they help alleviate natural scarcity. But once a commodity is established as a money on the market, no more money at all is needed. Since the only use of money is for exchange and reckoning, more dollars or pounds or marks in circulation cannot confer a social benefit: they will simply dilute the exchange value of every existing dollar or pound or mark." Murray Rothbard
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Hans-Hermann Hoppe quote about money and economic theoryCopyright © yoice.net – Quote Artwork
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"Economic theory has nothing to say as to what commodity will acquire the status of money. Historically, it happened to be gold. But if the physical makeup of our world would have been different or is to become different from what it is now, some other commodity would have become or might become money. The market will decide." Hans-Hermann Hoppe
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Albert Jay Nock quote about state money, government taxation, and the role of the StateCopyright © yoice.net – Quote Artwork
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"Another strange notion pervading whole peoples is that the State has money of its own; and nowhere is this absurdity more firmly fixed than in America. The State has no money. It produces nothing. It existence is purely parasitic, maintained by taxation; that is to say, by forced levies on the production of others. 'Government money,' of which one hears so much nowadays, does not exist; there is no such thing." Albert Jay Nock
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Quote by Ayn Rand about society’s virtue, corruption, and moral declineCopyright © yoice.net – Quote Artwork
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"Money is the barometer of a society’s virtue. When you see that trading is done, not by consent, but by compulsion- When you see that in order to produce, you need to obtain permission from men who produce nothing- when you see that money is flowing to those who deal, not in goods, but in favors- when you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you- when you see corruption being rewarded and honesty becoming a self-sacrifice – you may know that your society is doomed." Ayn Rand
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