A Quote by Joseph Salerno
The market insures that any quantity of money is capable of performing all the work required of a medium of exchange by adjusting its purchasing power to the underlying conditions of supply and demand.
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Value is the life-giving power of anything; cost, the quantity of labour required to produce it; its price, the quantity of labourwhich its possessor will take in exchange for it.
Property may be destroyed and money may lose its purchasing power; but, character, health, knowledge and good judgement will always be in demand under all conditions.
If you increase the quantity of money, you bring about the lowering of the purchasing power of the monetary unit.
Is it any more moral to dilute the value of the purchasing power of the money you hold in your wallet than it is for the farmer to dilute the milk supply with water?
An underpaid man is a customer reduced in purchasing power. He cannot buy. Business depression is caused by weakened purchasing power. Purchasing power is weakened by uncertainty or insufficiency of income. The cure of business depression is through purchasing power, and the source of purchasing power is wages.
Mass production is only profitable if its rhythm can be maintained.. that is, if it can continue to sell its product in steady or increasing quantity. The result is that while, under the handicraft or small-unit system of production that was typical a century ago, demand created the supply, today supply must actively seek to create its corresponding demand.
We need a mobilized and active civil society using its purchasing power to demand sustainable products and practices. It is also essential that governments commit to the future, creating fiscal and regulatory conditions for sustainable policies to thrive.
Money appears as measure (in Homer, e.g. oxen) earlier than as medium of exchange, because in barter each commodity is still its own medium of exchange. But it cannot be its own or its own standard of comparison.
Assess Bitcoins? All you can do is examine the trading patterns, which do not provide a real analysis of any underlying economic value. The economics of investments are not solely based on supply and demand, and that is all that goes into Bitcoin prices.
Money is the general medium of exchange. It is the thing for which all other goods are traded, the means of final payment for such goods on the market.
Need is not demand. Effective economic demand requires not merely need but corresponding purchasing power.
But before all else a work of art is the creation of love. Love for the subject first and for the medium second. Love is the fundamental necessity underlying the need to create, underlying the emotion that gives it form, and from which grows the unfinished product that is presented to the world. Love is the general criterion by which the rare photograph is judged. It must contain it to be not less than the best of which the photographer is capable.
The banker, therefore, is not so much primarily a middleman in the commodity "purchasing power" as a producer of this commodity. However, since all reserve funds and savings today usually flow to him, and the total demand for free purchasing power, whether existing or to be created, concentrates on him, he has either replaced private capitalists or become their agent; he has himself become the capitalist par excellence.
For they (capitalists) hold as their chief heresy, in a coarser form, the fundamental falsehood that things are not made to be used but made to be sold. All the collapse of their commercial system in their own time has been due to that fallacy of forcing things on a market where there was no market; of continually increasing the power of supply without increasing the power of demand; of briefly, of always considering the man who sells the potato and never considering the man who eats it.
Success in your work, the finding a better method, the better understanding that insures the better performing is hat and coat, is food and wine, is fire and horse and health and holiday. At least, I find that any success in my work has the effect on my spirits of all these.
If strong economic conditions can partially reverse supply-side damage after it has occurred, then policymakers may want to aim at being more accommodative during recoveries than would be called for under the traditional view that supply is largely independent of demand.
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