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.
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.
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
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
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.
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.
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
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
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
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.
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
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.
[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.
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.
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.
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.
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
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.
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
[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.