But this brings us to what I consider the fatal flaw in the monetarist prescriptions. If the leader of the school cannot make up his own mind regarding what the most desirable rate of monetary increase should be, what does he expect to happen when the decision is put in the hands of the politicians? ... The fatal flaw in the monetarist prescription, in brief, is that it postulates that money should consist of irredeemable paper notes and that the final power of determining how many of these are issued should be placed in the hands of the government-that is, in the hands of the politicians in office. The assumption that these politicians could be trusted to act responsibly, particularly for any prolonged period, seems incredibly naive. The real problem today is the opposite of what the monetarists suggest. It is how to get the arbitrary power over the stock of money out of the hands of the government, out of the hands of the politicians.
Henry HazlittRelated topics
act arbitrary assumption expect final government increase leader mind money office paper power prescription problem real school should today hands NOTESRelated quotes
But let me stress again that these are my views - for contrary to common newspaper usage, I am not the Catholic candidate for President. I am the Democratic Party's candidate for President who happens also to be a Catholic. I do not speak for my church on public matters - and the church does not speak for me. Whatever issue may come before me as President - on birth control, divorce, censorship, gambling or any other subject - I will make my decision in accordance with these views, in accordance with what my conscience tells me to be the national interest, and without regard to outside religious pressures or dictates. And no power or threat of punishment could cause me to decide otherwise. But if the time should ever come - and I do not concede any conflict to be even remotely possible - when my office would require me to either violate my conscience or violate the national interest, then I would resign the office; and I hope any conscientious public servant would do the same.
John F. Kennedy
At the present time we are the sixth air Power in the world. But every State is rapidly expanding its air force. They are all expanding, but much more rapidly than we are doing. It is certain, therefore, that.. in 1936...we shall have fallen further behind other countries than we are now in air defence. ... If you extend your view over the [Government's] five-years' programme I believe it is also true to state that, having regard to the increases which are being made by other countries and which are projected, even if the whole programme is carried out, at the end of the period...we shall be worse off in 1939 relatively-it is relativity that counts in these matters-than we are now. ... Yet even for this tiny, timid, tentative, tardy increase of the Air Force, to which the Government have at length made up their mind, they are to be censured by the whole united forces of the Socialist and Liberal parties here and throughout the country.
Winston Churchill
The worldly man lives in society, marries, establishes a family; Yoga prescribes absolute solitude and chastity. The worldly man is "possessed” by his own life; the yogin refuses to "let himself live”; to continual movement, he opposes his static posture, the immobility of āsana; to agitated, unrhythmical, changing respiration, he opposes prānāyāma, and even dreams of holding his breath indefinitely; to the chaotic flux of psychomental life, he replies by "fixing thought on a single point,” the first step to that final withdrawal from the phenomenal world which he will obtain through pratyāhāra. All of the yogic techniques invite to one and the same gesture-to do exactly the opposite of what human nature forces one to do. From solitude and chastity to samyama, there is no solution of continuity. The orientation always remains the same-to react against the "normal,” "secular,” and finally "human” inclination.
Mircea Eliade
It is with considerable reluctance that I criticize the monetarists, because, though I consider their proposed monetary policy unfeasible, they are after all much more nearly right in their assumptions and prescriptions than the majority of present academic economists. The simplistic form of the quantity theory of money that they hold is not tenable; but they are overwhelmingly right in insisting on how much "money matters," and they are right in insisting that in most circumstances, and over the long run, it is the quantity of money that is most influential in determining the purchasing power of the monetary unit. Other things being equal, the more dollars that are issued, the smaller becomes the value of each individual dollar. So at the moment the monetarists are more effective opponents of further inflation than the great bulk of politicians and even putative economists who still fail to recognize this basic truth.
Henry Hazlitt
Perhaps we could benefit by selectively adopting some of those traditional practices. Some of us already do so, with demonstrated benefits to our health and happiness. In some respects we moderns are misfits; our bodies and our practices now face conditions different from those under which they evolved, and to which they became adapted. But we should also not go to the opposite extreme of romanticizing the past and longing for simpler times. Many traditional practices are ones that we can consider ourselves blessed to have discarded - such as infanticide, abandoning or killing elderly people, facing periodic risk of starvation, being at heightened risk from environmental dangers and infectious diseases, often seeing one's children die, and living in constant fear of being attacked. Traditional societies may not only suggest to us some better living practices, but may also help us appreciate some advantages of our own society that we take for granted.
Jared Diamond