"It has been frequently assumed that V is constant; and this indeed is the cornerstone of the quantity theory of money. But it seems fairly obvious that the velocity of circulation in fact depends on the short-term rate of interest."

“In any case of the budget deficit the private sector of the economy receives more from government expenditure than it pays in taxes.”

“It may thus be concluded that in the absence of 'development factors' the system lapses into a stationary state. These factors thus appear to be a prerequisite of a steady growth.”

“It should first be stated that a joint-stock company is not a 'brotherhood of shareholders' but is managed by a controlling group of big shareholders while the rest of the shareholders do not differ from holders of bonds with a flexible rate of interest.”

“In a sense the budget deficit can be considered as an artificial export surplus.”

“Armaments and wars, usually financed by budget deficits, are also a source of this kind of profits.”

“It is indeed paradoxical that, while the apologists of capitalism usually consider the 'price mechanism' to be the great advantage of the capitalist system, price flexibility proves to be a characteristic feature of the socialist economy.”