Why should they also be accepted by private persons in private transactions in exchange for goods and services? The short answer-and the right answer-is that private persons accept these pieces of paper because they are confident that others will. The pieces of green paper have value because everybody thinks they have value. Everybody thinks they have value because in everybody's experience they have had value...
Milton FriedmanRelated topics
everybody experience goods green paper right should short value othersRelated quotes
The bourgeois public sphere may be conceived above all as the sphere of private people come together as a public; they soon claimed the public sphere regulated from above against the public authorities themselves, to engage them in a debate over the general rules governing relations in the basically privatized but publicly relevant sphere of commodity exchange and social labor.
Jürgen Habermas
I could buy myself paper, a pen, a pencil and a brush and could create pictures whenever and wherever I wanted. ... That evening, in the spring of 1947, on the embankment of the Seine in Paris, at the age of thirty, I saw that it was possible to live and work in the world, and that I could participate in the exchange of ideas that was taking place all around, bound to no country.
Peter Weiss
Human paint, produce films and videos; they dance, dream and make music; they engage in political action, exchange goods, perform rituals, build houses start wars, act in plays, try to please patrons- and so on... They contain patterns, press the practitioners to "conform" and in this way mold their thought, their perception, their actions, and their discriminative abilities.
Paul Karl Feyerabend
The philosopher ... subjects experience to his critical judgment, and this contains a value judgment namely, that freedom from toil is preferable to toil, and an intelligent life is preferable to a stupid life. It so happened that philosophy was born with these values. Scientific thought had to break this union of value judgment and analysis, for it became increasingly clear that the philosophic values did not guide the organisation of society.
Herbert Marcuse
Of course I'm a black writer. I'm not just a black writer, but categories like black writer, woman writer and Latin American writer aren't marginal anymore. We have to acknowledge that the thing we call ''literature'' is more pluralistic now, just as society ought to be. The melting pot never worked. We ought to be able to accept on equal terms everybody from the Hasidim to Walter Lippmann, from the Rastafarians to Ralph Bunche.
Toni Morrison