A Quote by Georg Simmel
The calculative exactness of practical life which the money economy has brought about corresponds to the ideal of natural science: to transform the world by mathematical formulas. Only money economy has filled the days of so many people with weighing, calculating, with numerical determinations, with a reduction of qualitative values to quantitative ones.
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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.
The reality is the most important thing that can be done are these permanent changes like to the tax code, reduction of government spending. These are the things that pop up in economy and move it in the right direction, start to make it an economy that is moving because of the money in the private economy. When you think about it, when the Fed is lowering an interest rate, what it's doing is it's creating more liquidity. It's putting more money into the economy. The same thing happens when you reduce the tax except if happens from physical policy.
The money economy thus leaves a large ecological footprint, defined as the amount of land and resources required to meet a typical consumer's needs. For example, with only about 4% of the world's population, the United States, the largest money economy, consumes in excess of one-quarter of the world's energy and materials and generates in excess of 25 percent of the world's greenhouse gas emissions.
Money, amazingly, is losing its power... Our economy is rapidly changing from a money economy to a satisfaction economy.
We are a big economy, and we must, therefore, show that we can manage it, but not only manage it, but that can transform it so that this economy works for all of our people so that everyone feels that they have a stake in this economy.
This dilettante notion that the global economy is evil because big corporate leaders make too much money... they do make too much money, but the only way we've figured out how to generate wealth in this world is through the market economy.
Almost all the greatest discoveries in astronomy have resulted from what we have elsewhere termed Residual Phenomena, of a qualitative or numerical kind, of such portions of the numerical or quantitative results of observation as remain outstanding and unaccounted for, after subducting and allowing for all that would result from the strict application of known principles.
When I say the economy is shrinking, it's the economy of the 99%, the people who have to work for a living and depend on earning money for what they can spend. The 1% makes its money basically by lending out their money to the 99%, on charging interest and speculating. So the stock market's doubled, the bond market's gone way up, and the 1% are earning more money than ever before, but the 99% are not. They're having to pay the 1%.
It's silly to have as one's sole object in life just making money, accumulating wealth. I work because I enjoy what I'm doing, and the fact that I make money at it - big money - is a fine-and-dandy side fact. Money gives me just one big thing that's really important, and that's the freedom of not having to worry about money. I'm concerned about values - moral, ethical, human values - my own, other people's, the country's, the world's values. Having money now gives me the freedom to worry about the things that really matter.
Only by transforming our own economy to one of peace can we make possible economic democracy in the Third World or our own country. The present economy generates wars to protect its profits and its short-term interests, while squandering the future. Unless we transform the economy, we cannot end war.
The life and soul of science is its practical application, and just as the great advances in mathematics have been made through the desire of discovering the solution of problems which were of a highly practical kind in mathematical science, so in physical science many of the greatest advances that have been made from the beginning of the world to the present time have been made in the earnest desire to turn the knowledge of the properties of matter to some purpose useful to mankind.
Trickle-down economics - it didn't work. The whole idea was supply-side economics: give rich people a lot of money; they'll spend it, it'll go into the economy. Here's what we found out - rich people, really good at keeping all the money. That's how they got rich. If you want it in the economy, give it to the poor people. You know what they're really good at? Spending all their money.
What I tend to do is blend quantitative with the qualitative to allow me to plot the qualitative data in some way. It's a question of what quantitative data are most applicable. So I'm playing with that, merging the two.
We no longer see the world as a single entity. We've moved to cities and we think the economy is what gives us our life, that if the economy is strong we can afford garbage collection and sewage disposal and fresh food and water and electricity. We go through life thinking that money is the key to having whatever we want, without regard to what it does to the rest of the world.
The best way to encourage economic vitality and growth is to let people keep their own money.When you spend your own money, somebody's got to manufacture that which you're spending it on. You see, more money in the private sector circulating makes it more likely that our economy will grow. And, incredibly enough, some want to take away part of those tax cuts. They've been reading the wrong textbook. You don't raise somebody's taxes in the middle of a recession. You trust people with their own money. And, by the way, that money isn't the government's money; it's the people's money.
Though my heart may be left of centre, I have always known that the only economic system that works is a market economy... This is the only natural economy, the only kind that makes sense, the only one that can lead to prosperity, because it is the only one that reflects the nature of life itself.
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