"Money is here called the a medium and not, as customary, a unit of account because, clearly, money itself is not a unit, but the good whose unit is used as the unit of account."

Jürg Niehans Economics See all quotes by Jürg Niehans →

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“Economics should be under no illusion that central banking will ever become a science.”

“There is a widespread impression today that the history of economics is a sequence of revolutions and counter-revolutions, successive schools rising to dominance just to be deposed in a crisis by another school. According to this view, paraphrasing Marx, all history of economics is a history of school struggles, punctuated by revolutions.”

“If one could be perfectly certain that everybody always stays within his budget constraint, everybody could be allowed to obtain goods without a specific quid pro quo.”

Resonant Thoughts

"...do not courageous men endure death because they are afraid of yet greater evils? ...Then all but philosophers are courageous only from fear, and because they are afraid; and yet that a man should b…"

— Socrates

Literature-469–-398

#fear

"Well, my faith--if there is any, because I am an agnostic--I have faith in good people which I think is all that one can do. The principle I tried to follow is: Try not to lie, because then you tie yo…"

— Khushwant Singh

Politics1915–2014

#hope

"Hitler: I'm not going to lie to you, it took a while. There were moments all along where I knew something was wrong. I remember one time... I think it was in Munich. We were having a rally. 100,000 pe…"

— Jon Stewart

Entertainment1989

#time

"I must confess, my friends, the road ahead will not always be smooth. There will be still rocky places of frustration and meandering points of bewilderment. There will be inevitable setbacks here and …"

— Martin Luther King

Social Activism1929–1968

#time