What we're talking about is the price of goods, all goods, in terms of money. That has nothing to do with unemployment, except for the fact that you get fewer goods. And when you have more money and fewer goods, the amount of dollars per good goes up. It goes up because there are fewer goods and it goes up because there is more money.
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Three sorts of goods, Aristotle specified, contribute to happiness: goods of the soul, including moral and intellectual virtues and education; bodily goods, such as strength, good health, beauty, and sound senses; and external goods, such as wealth, friends, good birth, good children, good heredity, good reputation and the like.
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The phenomenon of money presupposes an economic order in which production is based on division of labour and in which private property consists not only in goods of the first order (consumption goods), but also in goods of higher orders (production goods). In such a society, there is no systematic centralized control of production, for this is inconceivable without centralized disposal over the means of production.
Ludwig von Mises
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It will be the obvious result of this that the prices of the goods concerned will rise, and that the objective exchange-value of money will fall in comparison. But this rise of prices will by no means be restricted to the market for those goods that are desired by those who originally have the new money at their disposal. In addition, those who have brought these goods to market will have their incomes and their proportionate stocks of money increased and, in their tum, will be in a position to demand more intensively the goods they want, so that these goods will also rise in price. Thus the increase of prices continues, having a diminishing effect, until all commodities, some to a greater and some to a lesser extent, are reached by it.
Ludwig von Mises
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Do not worry! Earthly goods deceive the human heart into believing that they give it security and freedom from worry. But in truth, they are what cause anxiety. The heart which clings to goods receives with them the choking burden of worry. Worry collects treasures, and treasures produce more worries. We desire to secure our lives with earthly goods; we want our worrying to make us worry-free, but the truth is the opposite. The chains which bind us to earthly goods, the clutches which hold the goods tight, are themselves worries.
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Desire is insatiable not because the goods of the world are too few, too uniform, or too bland. Desire burns through the goods of the world, even though these goods are not false or intrinsically unsatisfactory.... Desire shatters the economy of things; it disputes the tyranny of objects. IT longs for the great emptiness, which is beauty and love without limitation.
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To the extent that we are trapped by the overvaluing, idealizing tendency, we are not free fully to celebrate the limited but real goods of creation. Idolatry by definition is not an accurate assessment of creaturely goods, but an overvaluing of them so as to miss the richness of their actual, limited values. If I worship my tennis trophies, my Mondrian, my family tree, my Kawasaki, or my bank account, then I do not really receive those goods for what they actually are - limited, historical, and finite - goods which are vulnerable to being taken away by time and death. When I pretend that a value is something more than it is, ironically I value it less appropriately than it deserves. Biblical psychology invites us to relate ourselves absolutely to the absolute and relatively to the relative.
Thomas C. Oden
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The first people to get the new money are the counterfeiters, which they use to buy various goods and services. The second receivers of the new money are the retailers who sell those goods to the counterfeiters. And on and on the new money ripples out through the system, going from one pocket or till to another. As it does so, there is an immediate redistribution effect. For first the counterfeiters, then the retailers, etc. have new money and monetary income they use to bid up goods and services, increasing their demand and raising the prices of the goods that they purchase. But as prices of goods begin to rise in response to the higher quantity of money, those who haven't yet received the new money find the prices of the goods they buy have gone up, while their own selling prices or incomes have not risen. In short, the early receivers of the new money in this market chain of events gain at the expense of those who receive the money toward the end of the chain, and still worse losers are the people (e.g., those on fixed incomes such as annuities, interest, or pensions) who never receive the new money at all.
Murray N. Rothbard
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If we disregard the exchange of present goods for future goods, and restrict our considerations for the time being to those cases in which the only exchanges are those between present goods and present money, we shall at once observe a fundamental difference between the effects of an isolated variation in a single commodity-price, emanating solely from the commodity side, and the effects of a variation in the exchange-ratio between money and other economic goods in general, emanating from the monetary side.
Ludwig von Mises
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Capitalism improves the quality of life for the working class not just because it leads to improved wages but also because it produces new, better, and cheaper goods.... Indeed, with capitalism, the emphasis shifted to producing goods as cheaply as possible for the masses--the working class--whereas artisans had previously produced their goods and wares mostly for the aristocracy. Under capitalism every business wants to cater to the masses, for that is where the money is.
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The essential difference between rich societies and poor societies does not stem from any greater effort the former devote to work, nor even from any greater technological knowledge the former hold. Instead it arises mainly from the fact that rich nations possess a more extensive network of capital goods wisely invested from an entrepreneurial standpoint. These goods consists of machines, tools, computers, buildings, semi-manufactured goods, software, etc., and they exist due to prior savings of the nation's citizens. In other words, comparatively rich societies possess more wealth because they have more time accumulated in the form of capital goods, which places them closer in time to the achievement of much more valuable goals.
Jeseºs Huerta de Soto
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The absolute desire of 'having more' encourages the selfishness that destroys communal bonds among the children of God. It does so because the idolatry of riches prevents the majority from sharing the goods that the Creator has made for all, and in the all-possessing minority it produces an exaggerated pleasure in these goods.
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[Freedom] is the greatest of political goods. I do not say freedom is the greatest of all goods: the best things come from within they are such things as creative art, and love, and thought. Such things can be helped or hindered by political conditions, but not actually produced by them; and freedom is, both in itself and in its relation to these other goods the best thing that political and economic conditions can secure.
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Happiness, whether consisting in pleasure or virtue, or both, is more often found with those who are highly cultivated in their minds and in their character, and have only a moderate share of external goods, than among those who possess external goods to a useless extent but are deficient in higher qualities.
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Some day no one will have to work more than two days a week... The human being can consume so much and no more. When we reach the point when the world produces all the goods that it needs in two days, as it inevitably will, we must curtail our production of goods and turn our attention to the great problem of what to do with our new leisure.
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Trade deficits are OK under certain circumstance. 1. An emerging nation imports capital goods necessary to enhance its productivity. 2. A developed nation, with a current account surplus, uses some of its investment income to finance the purchases of additional consumer goods from abroad.
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Before it was usual to acquire goods in the market, not for personal consumption, but simply in order to exchange them again for the goods that were really wanted, each individual commodity was only accredited with that value given by the subjective valuations based on its direct utility. It was not until it became customary to acquire certain goods merely in order to use them as media of exchange that people began to esteem them more highly than before, on account of this possibility of using them in indirect exchange. The individual valued them in the first place because they were useful in the ordinary sense, and then additionally because they could be used as media of exchange. Both sorts of valuation are subject to the law of marginal utility.
Ludwig von Mises
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The old world was destroyed because of its own greed and secretiveness. Those least evolved rose to the top, as happens here. Your leaders, as you call them, are all people with damaged senses of self-worth. The damaged goods run the civilization. That's why it cannot last." "Abraham Lincoln was damaged goods?" "The need to lead is a symptom.
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To each, therefore, must be given his own share of goods, and the distribution of created goods, which, as every discerning person knows, is laboring today under the gravest evils due to the huge disparity between the few exceedingly rich and the unnumbered propertyless, must be effectively called back to and brought into conformity with the norms of the common good, that is, social justice.
Pope Pius XI
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[F]or women, like tradesmen, draw in the injudicious to buy their goods by the high value they themselves set upon them.... They endeavor strongly to fix in the minds of their enamoratos their own high value, and then contrive as much as possible to make them believe that they have so many purchasers at hand that the goods--if they do not make haste--will all be gone.
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The basis of bureaucratic rule is the poverty of society in objects of consumption, with the resulting struggle of each against all. When there is enough goods in a store, the purchasers can come whenever they want to. When there is little goods, the purchasers are compelled to stand in line. When the lines are very long, it is necessary to appoint a policeman to keep order. Such is the starting point of the power of the Soviet bureaucracy. It "knows" who is to get something and who has to wait.
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We must not cast away riches which can benefit our neighbor. Possessions were made to be possessed; goods are called goods because they do good, and they have been provided by God for the good of men: they are at hand and serve as the material, the instruments for a good use in the hand of him who knows how to use them.
Clement of Alexandria
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The disciple of Jesus gives up all he has, all his goods, because he has found in him the greatest Good from which every other good receives its full value and meaning: family bonds, other relationships, work, cultural and economic goods and so on... The Christian detaches himself from everything and rediscovers all of it in the logic of the Gospel, the logic of love and service.
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What we mean by an outcome will naturally depend on the context. Thus, for a government charged with delivering public goods, an outcome will consist of the quantities provided of such goods as intercity highways, national defense and security, environmental protection, and public education together with the arrangements by which they are financed.
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If one sentence were to sum up the mechanism driving the Great Stagnation, it is this: Recent and current innovation is more geared to private goods than to public goods. That simple observation ties together the three major macroeconomic events of our time: growing income inequality, stagnant median income, and the financial crisis.
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Don Draper-style advertising is really only available to the biggest brands out there. It's only commodity goods that use those kind of messages because they have to differentiate goods that are really hard to differentiate between - Shell gasoline versus Exxon, Coke versus Pepsi, Sprint versus T-Mobile, it's all the same thing!
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Even as in the blessed in heaven there will be most perfect charity, so in the damned there will be the most perfect hate. Wherefore as the saints will rejoice in all goods, so will the damned grieve for all goods. Consequently the sight of the happiness of the saints will give them very great pain.
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A lot of Americans desperately want to believe that China is full of poor people who can't innovate, and the only goods they make are cheap, toxic rip-offs our Western brands. They want to believe the only reason the Chinese economy is surging is because the West wants cheap goods and China knows how to make them that way.
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Still others reflected on how quickly the food could be snatched from a man's table, or the child from a woman's breast, or the wife from a man's bedcloset, that no strength of grasp could hold these goods in place. And others remarked to themselves how sweet these goods were, in spite of that, and saw that pleasure lost in every moment is pleasure lost forever.
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When profits are pursued by geographic interchange of goods, so that commerce for profit becomes the central mechanism of the system, we usually call it "commercial capitalism." In such a system goods are conveyed from ares where they are more common (and therefore cheaper) to areas where they are less common (and therefore less cheap). This process leads to regional specialization and to division of labor, both in agricultural production and in handicrafts.
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Without doubt one is allowed to resist against the unjust aggressor to one's life, one's goods or one's physical integrity; sometimes, even 'til the aggressor's death... In fact, this act is aimed at preserving one's life or one's goods and to make the aggressor powerless. Thus, it is a good act, which is the right of the victim.
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The supplementary quantity of gold that streams from it into commerce goes at first to the owners of the mine and then by turns to those who have dealings with them. If we schematically divide the whole community into four groups, the mine-owners, the producers of luxury goods, the remaining producers, and the agriculturalists, the first two groups will be able to enjoy the benefits resulting from the reduction in the value of money, the former of them to a greater extent than the latter. But even as soon as we' reach the third group, the situation is altered. The profit obtained by this group as a result of the increased demands of the first two will already be offset to some. extent by the rise in the prices of luxury goods which will have experienced the full effect of the depreciation by the time it begins to affect other goods. Finally, for the fourth group, the whole process will result in nothing but loss.
Ludwig von Mises
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Listing rights generally involves enumerating things you may do without interference (the right to free speech) or may not be done to you without your permission (illegal search and seizure, loud boy-band music in public places). They are protections, not gifts of material goods. Material goods and services must be taken from others, or provided by their labor, so if you believe you have an absolute right to them, and others don't choose to provide it to you, you then have a 'right' to steal from them. But what about their far more fundamental right not to be robbed?
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Excess consumption doesn't make people happy. We can continue to provide for our needs, but we can't continue the endless pursuit of ever more consumer goods. There is no energy source that can provide enough consumer goods to meet our human and emotional needs; there never has been, and that's why it's been such a fruitless pursuit.
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When individuals are exchanging present goods against future goods they do not take account in their valuations of Variations in the objective exchange-value of money. Lenders and borrowers are not in the habit of allowing for possible future fluctuations in the objective exchange-value of money.
Ludwig von Mises
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The great man is not so great as folks think, and the dull man is not quite so stupid as he seems. The difference in our estimates of men lies in the fact that one individual is able to get his goods into the show-window, and the other is not aware that he has any show-window or any goods.
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I thought as I rode in the cold pleasant light of Sunday morning how silent & passive nature offers, every morn, her wealth to man; she is immensely rich, he is welcome to her entire goods, which he speaks no word, only leaves over doors ajar, hall, store room, & cellar. He may do as he will: if he takes her hint & uses her goods, she speaks no word; if he blunders & starves, she says nothing.
Ralph Waldo Emerson
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We had a level of tariffs of about five per cent. Now a lot of those will go, most of them will go over time, some of them immediately. Now that means that electronic goods and other things, white goods, coming into Australia, will be cheaper for our community. It also means in many cases that the inputs used by our high-end manufacturers to make a final product are also coming in cheaper than they otherwise would - so it makes those manufacturers more competitive.
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I have read a great deal of economic theory for over 50 years now, but have found only one economic "law" to which I can find NO exceptions: Where the State prevents a free market, by banning any form of goods or services, consumer demand will create a black market for those goods or services, at vastly higher prices. Can YOU think of a single exception to this law?
Robert Anton Wilson
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Somebody's buying these treasury bills at 1/20th of one percent. I mean we consuming about $2 billion a day of goods and services beyond what we're producing.As long as we consume more than we produce, and we trade away little pieces of the country daily, they're going to own something. Now, they can't run from American assets. I mean every day the rest of the world is going to have about two billion more of American assets than we have, as long as they sell us these goods.
Howard Warren Buffett
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Free election of masters does not abolish the masters or the slaves. Free choice among a wide variety of goods and services does not signify freedom if these goods and services sustain social controls over a life of toil and fear "" that is, if they sustain alienation. And the spontaneous reproduction of superimposed needs by the individual does not establish autonomy; it only testifies to the efficacy of the controls.
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[Social legislation] raised the cost of production; and what can be more illogical than to raise the cost of production in the country and then to allow the products of other countries which are not surrounded by any similar legislation, which are free from any similar cost and expenditure freely to enter our country in competition with our own goods...If these foreign goods come in cheaper, one of two things must follow...either you will take lower wages or you will lose your work.
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Like gold, U.S. dollars have value only to the extent that they are strictly limited in supply. But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices in dollars of those goods and services.
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[Most American cities began life around some basic means of production, like mining or manufacturing.] People come in to work at the factory, ... and the goods from that factory are sent out to other cities or across the region. But over time, smaller services start building up within the city, like little grocery stores or gas stations, that are servicing needs within the community. The internal infrastructure gets larger and larger, and over time it becomes the biggest part of the city -- the city producing goods and services for itself.
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Alterations in real prices occur slowly as a rule. But this stability of prices has its cause in the stability of the price-determinants, not in the Law of Price-determination itself. Prices change slowly because the subjective valuations of human beings change slowly. Human needs, and human opinions as to the suitability of goods for satisfying those needs, are no more liable to frequent and sudden changes than are the stocks of goods available for consumption, or the manner of their social distribution;
Ludwig von Mises
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There are two parts to the problem of measuring the objective exchange-value of money. First we have to obtain numerical demonstration of the fact of variations in the objective exchange-value of money; then the question must be decided whether it is possible to make a quantitative examination of the causes of particular price movements, with special reference to the question whether it would be possible to produce. So far as the first-named problem is concerned, it is self-evident that its solution must assume the existence of a good, or complex of goods, of unchanging objective exchange-value. The fact that such goods are inconceivable needs no further elucidation. If the one is proved to be soluble, then so also is the other; and proof of the insolubility of the one is also proof of the insolubility of the other.
Ludwig von Mises
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.. is there not one true coin for which all things ought to exchange?- and that is wisdom; and only in exchange for this, and in company with this, is anything truly bought or sold, whether courage, temperance or justice. And is not all true virtue the companion of wisdom, no matter what fears or pleasures or other similar goods or evils may or may not attend her? But the virtue which is made up of these goods, when they are severed from wisdom and exchanged with one another, is a shadow of virtue only, nor is there any freedom or health or truth in her; but in the true exchange there is a purging away of all these things, and temperance, and justice, and courage, and wisdom herself, are a purgation of them.
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individuals are concerned not with the moral issue of realizing these standards, but with the amoral issue of engineering a convincing impression that these standards are being realized. Our activity, then, is largely concerned with moral matters, but as performers we do not have a moral concern in these moral matters. As performers we are merchants of morality. Our day is given over to intimate contact with the goods we display and our minds are filled with intimate understandings of them; but it may well be that the more attention we give to these goods, th e more d is ta n t we feel from them and from those who are believing enough to buy them. To use a different imagery, the very obligation and profitablility of appearing always in a steady moral light, of being a socialized character, forces us to be the sort of person who is practiced in the ways of the stage.
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Late modern society is principally concerned with purchasing things, in ever greater abundance and variety, and so has to strive to fabricate an ever greater number of desires to gratify, and to abolish as many limits and prohibitions upon desire as it can. Such a society is already implicitly atheist and so must slowly but relentlessly apply itself to the dissolution of transcendent values. It cannot allow ultimate goods to distract us from proximate goods. Our sacred writ is advertising, our piety is shopping, our highest devotion is private choice. God and the soul too often hinder the purely acquisitive longings upon which the market depends, and confront us with values that stand in stark rivalry to the only truly substantial value at the center of the social universe: the price tag.
David Bentley Hart
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