A Quote by Albert J. Nock
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.
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I have read a great deal of economic theory for over 50 years now, but have found only one economic "law" to which I can find NO exceptions: Where the State prevents a free market, by banning any form of goods or services, consumer demand will create a black market for those goods or services, at vastly higher prices. Can YOU think of a single exception to this law?
Free election of masters does not abolish the masters or the slaves. Free choice among a wide variety of goods and services does not signify freedom if these goods and services sustain social controls over a life of toil and fear – that is, if they sustain alienation. And the spontaneous reproduction of superimposed needs by the individual does not establish autonomy; it only testifies to the efficacy of the controls.
While other individuals or institutions obtain their income by production of goods and services and by the peaceful and voluntary sale of these goods and services to others, the State obtains its revenue by the use of compulsion; that is, by the use and the threat of the jailhouse and the bayonet.
Better-paid workers buy more goods and services, increasing aggregate demand and baking a bigger economic pie for everyone.
Consumers need more insight into the goods and services they purchase. Businesses need to produce those goods and services more sustainably.
I have heard so many stories of contractors, and I've met some, too, who worked for Donald Trump, produced the goods and services and never got paid for what they were owed.
Non-inflationary economic growth - an increase in the production of goods and services - is structurally necessary for the current money system to exist. That is what drives the relentless conversion of life into money.
Why do some people act as if making money offended their delicate minds? I am out for a legitimate profit, and not ashamed of it; the fact that people will pay money for my goods and services shows that my work is useful.
Classical economics values things by seeing how much someone will pay for them. But this is where classical economics is wrong. What it fails to account for are all the 'externalities' - the services people regard as free goods: pollination services, flood protection, climate regulation, soil stabilization, carbon sequestration.
More and more money is being extracted from of the production and consumption economy to pay the FIRE sector. That's what causes debt deflation and shrinks markets. If you pay the banks, you have less to spend on goods and services.
Like gold, U.S. dollars have value only to the extent that they are strictly limited in supply. But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices in dollars of those goods and services.
Industries that make goods and services that people have to buy, regardless of economic circumstances, are bound to do well whatever the economic conditions.
Money can be exchanged for goods and services!
Speculation is only a word covering the making of money out of the manipulation of prices, instead of supplying goods and services.
Experiences are as distinct from services as services are from goods.
Money is not a part of the visible sector of the economy; people do not consume money. Money is not a physical factor of production, but rather a yardstick for measuring economic input, economic outtake and the relative values of the real goods and services of the economic world. Money provides a method of measuring obligations, rights, powers and privileges. It provides a means whereby certain individuals can accumulate claims against others, or against the economy as a whole, or against many economies.
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