“Neither a state nor a bank ever have had unrestricted power of issuing paper money without abusing that power.”

Profits might also increase, because improvements might take place in agriculture, or in the implements of husbandry, which would augment the produce with the same cost of production.

If then the prosperity of the commercial classes, will most certainly lead to accumulation of capital, and the encouragement of productive industry; these can by no means be so surely obtained as by a fall in the price of corn.

Neither machines, nor the commodities made by them, rise in real value, but all commodities made by machines fall, and fall in proportion to their durability.

There can be no rise in the value of labour without a fall of profits.

Called an inquiry into the laws which determine the division of the produce.

The variation in the value of money, however great, makes no difference in the rate of profits.

A rise in wages, from an alteration in the value of money, produces a general effect on price, and for that reason it produces no real effect whatever on profits.

As the revenue of the farmer is realized in raw produce, or in the value of raw produce, he is interested, as well as the landlord, in its high exchangeable value, but a low price of produce may be compensated to him by a great additional quantity.

But a tax on luxuries would no other effect than to raise their price. It would fall wholly on the consumer, and could neither increase wages nor lower profits.

For price is everywhere regulated by the return obtained by this last portion of capital, for which no rent whatever is paid.

There can be no greater error then in supposing that capital is increased by non-consumption.

Whenever, then, the usual and ordinary rate of the profits of agricultural stock, and all the outgoings belonging to the cultivation of land, are together equal to the value of the whole produce, there can be no rent.

It is not by the absolute quantity of produce obtained by either class, that we can correctly judge of the rate of profit, rent, and wages, but by the quantity of labour required to obtain that produce.

Money is neither a material to work upon nor a tool to work with.

The wheat bought by a farmer to sow is comparatively a fixed capital to the wheat purchased by a baker to make into loaves.

The price of corn will naturally rise with the difficulty of producing the last portions of it.

The European Central Bank has only the first. It has no commitment to keep employment up.

Eventually the banking systems of all advanced economies reach magnitudes of 500 percent,

Non-trivial understanding of the financial sector, credit, and the banking system.

The banking collapse was caused, more than anything, by bad government policy and the total failure of bad regulation, rather than by greed.

Banks have a new image. Now you have ‘a friend,’ your friendly banker. If the banks are so friendly, how come they chain down the pens?

Putting $10.00 in the bank or talking to your stockbroker about your investment plans are activities that will move you toward your goal.

It signals problems with respect to currency markets. Central banks should pay attention to it.

Given our inevitably incomplete knowledge about key structural aspects of our ever-changing economy and the sometimes asymmetric costs or benefits of particular outcomes, a central bank.