Now there are two ways in which the authorities of a particular country may combine the use of financial policy and of price adjustment. (i) First, financial policy may be used for the preservation of internal balance and price adjustment for the preservation of external balance. (ii) Second, financial policy may be used for the preservation of external balance and price adjustment for the preservation of internal balance. On either of these principles the authorities of any one country can set about the simultaneous preservation of internal and external balance.
James MeadeRelated topics
adjustment authorities country now preservation second set use waysRelated quotes
Fir: it contains a great deal of air and fire with very little moisture and the earthy, so that, as its natural properties are of the lighter class, it is not heavy. Hence, its consistence being naturally stiff, it does not easily bend under the load, and keeps its straightness when used in the framework. But it contains so much heat that it generates and encourages decay, which spoils it; and it also kindles fire quickly because of the air in its body, which is so open that it takes in fire and so gives out a great flame.
Vitruvius
There are things about organized religion which I resent. Christ is revered as the Prince of Peace, but more blood has been shed in His name than any other figure in history. You show me one step forward in the name of religion and I'll show you a hundred retrogressions. Remember, they were men of God who destroyed the educational treasures at Alexandria, who perpetrated the Inquisition in Spain, who burned the witches at Salem. Over 25,000 organized religions flourish on this planet, but the followers of each think all the others are miserably misguided and probably evil as well.
Frank Sinatra
Peter, in showing that the Church is one and that only those who are in the Church can be saved, said: "In the Ark of Noah certain persons, numbering only eight, were saved by water, which Baptism effects in like manner for you" (1 Peter 3:20). He proves and demonstrates that the solitary Ark of Noah was the figure of the One Church. If, at the time of this Baptism of the world anyone could have been saved without having been in the Ark of Noah, then he who is outside the Church could now be brought to life by Baptism.
Cyprian
Keynes did not challenge the efficacy of price adjustment mechanisms in clearing particular markets in the Marshallian partial equilibrium theory on which he had been reared. He did challenge the mindless application of those mechanisms to economy-wide markets. Founding what came to be known as macroeconomics, he was modeling a whole economy as a closed system. He knew he could not use the Marshallian assumption that the clearing of one market could be safely described on the assumption that the rest of the economy was unaffected.
James Tobin
We still have a great amount of work to do in social development, including resolving one of the biggest challenges we face in this area, namely, reducing the gap between high-income earners and people, citizens of our country, who are still living on very modest means indeed. But we cannot, of course, adopt the solution used 80 years ago and simply confiscate the riches of some to redistribute among others. We will use completely different means to resolve this problem, namely, we will ensure good economic growth.
Vladimir Putin