Commerce

"This is China and the Chinese stock promotion, manipulation fraud machine laughing in the face of the SEC."

"The stock market is a no-called-strike game. You don't have to swing at everything — you can wait for your pitch. The problem when you're a money manager is that your fans keep yelling, "Swing, you bum!""

"Stock prices will always be far more volatile than cash-equivalent holdings. Over the long term, however, currency-denominated instruments are riskier investments – far riskier investments – than widely-diversified stock portfolios that are bought over time and that are owned in a manner invoking only token fees and commissions. That lesson has not customarily been taught in business schools, where volatility is almost universally used as a proxy for risk. Though this pedagogic assumption makes for easy teaching, it is dead wrong: Volatility is far from synonymous with risk. Popular formulas that equate the two terms lead students, investors and CEOs astray."

"Hating Wall Street is an American tradition that dates back even to the days when Thomas Jefferson cursed that money lover Alexander Hamilton. And for centuries, the complaints about it have largely stayed the same: 'It does nothing! It creates chaos! It's a parasite that sucks hardworking Americans dry!'"

"Say the words market correction and many investors immediately think of a crash or a bear market, with the panic-inducing idea that they’ll be living on Ramen noodles through retirement. In reality, stock market corrections happen relatively frequently, and they aren’t nearly as bad as you might think.”"

"The U.S. stock market was now a class system, rooted in speed, of haves and have-nots. The haves paid for nanoseconds; the have-nots had no idea that a nanosecond had value. The haves enjoyed a perfect view of the market; the have-nots never saw the market at all. What had once been the world’s most public, most democratic, financial market had become, in spirit, something like a private viewing of a stolen work of art."

"Throughout the 1980s, which was the second-best decade for stocks in modern history (only the 1950s were slightly more bountiful), the percentage of household assets invested in stocks declined! (p. 15) By sticking with stocks all the time, the odds are six to one in our favor that we'll do better than the people who stick with bonds. (p. 16) The key to making money in stocks is not to get scared out of them. This point cannot be overemphasized. Every year finds a spate of books on how to pick stocks or find the winning mutual fund. But all this good information is useless without the willpower. In dieting and stocks, it is the gut and not the head that determines the results. (p. 36) While catching up on the news is merely depressing to the citizen who has no stocks, it is a dangerous habit for the investor. (p. 40) A healthy portfolio requires a regular checkup—perhaps every six months or so. Even with the blue chips, the big names, the top companies in the Fortune 500, the buy-and-forget strategy can be unproductive and downright dangerous. ... Investors who bought and forgot IBM, Sears, and Eastman Kodak are sorry that they did. (p. 284)"

"The most important thing I have done is to combine something esoteric with a practical issue that affects many people. In this spirit, the stock market is one of the most attractive things imaginable. Stock-market data is abundant so I can check everything. Financial markets are very influential and I want to be part of this field now that it is maturing."

"When asked what the stock market will do: It will fluctuate"

"The first question is, "What is the nature of the stock market?" And that gets you directly to this efficient market theory that got to be the rage — a total rage — long after I graduated from law school. And it's rather interesting because one of the greatest economists of the world is a substantial shareholder in Berkshire Hathaway and has been for a long time. His textbook always taught that the stock market was perfectly efficient and that nobody could beat it. But his own money went into Berkshire and made him wealthy. So, like Pascal in his famous wager, he hedged his bet. Is the stock market so efficient that people can't beat it? Well, the efficient market theory is obviously roughly right — meaning that markets are quite efficient and it's quite hard for anybody to beat the market by significant margins as a stock picker by just being intelligent and working in a disciplined way. Indeed, the average result has to be the average result. By definition, everybody can't beat the market. As I always say, the iron rule of life is that only 20% of the people can be in the top fifth. That's just the way it is."

"Your reminder that America's richest 1 percent now own half the value of the U.S. stock market. The richest 10 percent own 92 percent. So when Trump says the stock market is the economy, know who he's really talking about."

"Let us begin with a definition of economics. Over the last half-century, the study of economics has expanded to include a vast range of topics. Here are some of the major subjects that are covered in this book:"

"You know, I think many people have the mistaken impression that Congress regulates Wall Street. In truth that's not the case. The real truth is that Wall Street regulates the Congress."

"The business model of Wall Street is fraud. In my view, there is no better example than the recently-exposed illegal behavior at ."

"Let us wage a moral and political war against the billionaires and corporate leaders, on Wall Street and elsewhere, whose policies and greed are destroying the middle class of America."

"It can be argued that the U.S. brokerage and investment banking industry has transformed the modern American stock market into nothing more than a mechanism for transferring wealth from shareholders to management."

"The reality is that business and investment spending are the true leading indicators of the economy and the stock market. If you want to know where the stock market is headed, forget about consumer spending and retail sales figures. Look to business spending, price inflation, interest rates, and productivity gains."

"It would be misleading to leave the reader with the impression that speculation and investment together exhaust the subject of security profits. Not all fortunes founded on stock-market operations are obtained by either skillful investment or adroit speculation, for other procedures of a less defensible sort, which fall outside the range of our discussion, are resorted to sometimes."

"Consumerism sees the consumption of every more products and services as a positive thing. It encourages people to treat themselves, spoil themselves, and even kill themselves slowly by overconsumption."

"Obesity is a double victory for consumerism. Instead of eating little, which will lead to economic contraction, people eat too much and then buy diet products - contributing to economic growth twice over."

"Consumerism and nationalism work extra hours to make us imagine that millions of strangers belong to the same community as ourselves, that we all have a common past, common interest and a common future. This isn't a lie. It's imagination."

"Germans believe in the existence of a German nation, get excited at the sight of German national symbols, retell German national myths, and are willing to sacrifice money, time and limbs for the German nation, Germany will remain one of the strongest powers of the world."

"Why do you spend your money for that which is not bread, and your labour for that which does not satisfy?"

"We, we know the individuality that isolates the man from other men, the either/or, the lonely one that leads the flesh to clothing, jewelry, and land, the solitude of sight that separates the people from the people, flesh from flesh, that jams material between the spirit and the spirit. We have suffered witness to these pitiful, and murdering, masquerade extensions of the self.Instead, we choose a real, a living enlargement of our only life. We choose community."

"The fear for me is that the world has been turned inside out, the dark side made to seem light. Indulgent self-interest that our people once held to be monstrous is now celebrated as success. We are asked to admire what our people viewed as unforgivable. The consumption-driven mind-set masquerades as "quality of life" but eats us from within. It is as if we've been invited to a feast, but the table is laid with food that nourishes only emptiness, the black hole of the stomach that never fills. We have unleashed a monster."

"Ecological economists argue for reforms that would ground economics in ecological principles and the constraints of thermodynamics. They urge the embrace of the radical notion that we must sustain natural capital and ecosystem services if we are to maintain quality of life. But governments still cling to the neoclassical fallacy that human consumption has no consequences. We continue to embrace economic systems that prescribe infinite growth on a finite planet, as if somehow the universe had repealed the laws of thermodynamics on our behalf. Perpetual growth is simply not compatible with natural law. [...] Our leaders willfully ignore the wisdom and the models of every other species on the planet—except of course those that have gone extinct."

"Racial injustice, war, urban blight, and environmental rape have a common denominator in our exploitative economic system."

"Eat and drink, but waste not by excess; verily He loves not the excessive."

"… the consumerist pornography of advertising"

"Balloon-frame houses illustrated four of the factors cited then and later to explain the emergence of the American system of manufactures. The first was what economists call demand and what social historians might call a democracy of consumption: the need or desire of a growing and mobile population for a variety of ready-made consumer goods at reasonable prices. Considering themselves members of the "middling classes," most Americans in the 1850s were willing and able to buy ready-made shoes, furniture, men's clothing, watches, rifles, even houses. If these products lacked the quality, finish, distinction, and durability of fine items made by craftsmen, they were nevertheless functional and affordable. A new institution, the "department store," sprang up to market the wares of mass production to a mass public. European visitors who commented (not always favorably) on the relationship between a political system of universal (white) manhood suffrage and a socioeconomic system of standardized consumption were right on the mark. Grinding poverty and luxurious wealth were by no means absent from the United States, but what impressed most observers was the broad middle."

"He who knows he has enough is rich"

"Under present conditions, people are preoccupied with consumer goods not because they are brainwashed but because buying is the one pleasurable activity not only permitted but actively encouraged by our rulers. The pleasure of eating an ice cream cone may be minor compared to the pleasure of meaningful, autonomous work, but the former is easily available and the latter is not. A poor family would undoubtedly rather have a decent apartment than a new TV, but since they are unlikely to get the apartment, what is to be gained by not getting the TV?"

"Mass consumption, advertising, and mass art are a corporate Frankenstein; while they reinforce the system, they also undermine it. By continually pushing the message that we have the right to gratification now, consumerism at its most expansive encouraged a demand for fulfillment that could not so easily be contained by products."

"America’s central organizing principle is thoughtless consumption."

"How many things I can do without!"

"Those who buy things out of season, at an extravagant price, expect never to live till the proper season for them."

"Those who want fewest things are nearest to the Gods."

"Satiety is generated by wealth, and insolence by satiety."

"Man derives pleasure while acquiring gain."

"In urban and rural communities alike, a consumer consciousness preceded other forms of political or industrial antagonism. Not wages, but the cost of bread, was the most sensitive indicator of popular discontent. Artisans, self-employed craftsmen, or such groups as the Cornish tin miners (where the traditions of the "free" miner coloured responses until the 19th century), saw their wages as regulated by custom or by their own bargaining. They expected to buy their provisions in the open market, and even in times of shortage they expected prices to be regulated by custom also. (The God-provided "laws" of supply and demand, whereby scarcity inevitably led to soaring prices, had by no means won acceptance in the popular mind, where older notions of face-to-face bargaining still persisted.) Any sharp rise in prices precipitated riot. An intricate tissue, of legislation and of custom regulated the "Assize of Bread", the size and quality of the loaf. Even the attempt to impose the standard Winchester measure for the sale of wheat, in the face of some customary measure, could ensue in riots."

"The had produced much more food. That made food cheaper. In turn, that meant we had more money to spend. And we had started to spend it on “stuff”: televisions, video recorders, Walkmans, hair dryers, cars, and clothes. And we also started to spend it on vacations. Far more vacations. At the center of this spending spree was the astonishing growth of transportation. In 1960 there were 100 million cars on the world’s roads—by 1980 there were 300 million. With this came a massive expansion of road networks—carving up entire countries, further increasing loss of habitat for other species. In 1960 we flew 62 billion passenger miles. In 1980 we flew 620 billion passenger miles. Global shipping grew at a similarly astonishing rate. All of the stuff we were buying, plus all of the food we were consuming, plus all the raw materials and resources required to make everything was being shipped around the world. By this point, initial signs of the consequences of our growth were starting to show."

"As GDP (gross domestic product, the standard measure of the wealth of a country and its inhabitants) increases, calorie consumption also increases. As we get richer (or suffer less poverty), we consume more food."

"It’s worth reminding ourselves that our stuff does not come from Target, Whole Foods, A&P, Amazon, Walmart, or Best Buy. Our stuff comes from countries like China, Morocco, Brazil, Turkey, Spain, South Korea, and Peru. Whether it’s asparagus, pajamas, or electronics. Something like 500 million containers of stuff—stuff that we will consume—from Japanese and German cars, South African oranges, Peruvian asparagus, and Kenyan cut flowers, to T-shirts and dresses from Morocco or Vietnam, sneakers, music players, laptops, mobile phones, and televisions from China or South Korea—will be handled and transported around the world this year [2013]. Plus billions of tons of raw materials that will form the basis of our consumption—metals, phosphates, grain, oil, gas, and coal."

"The behavioral changes that are required of us are so fundamental that no one wants to make them. What are they? We need to consume less. A lot less. Less food, less energy, and less stuff. Fewer cars, electric cars, cotton T-shirts, laptops, mobile-phone upgrades. Far fewer. Yet, every decade, global consumption continues to increase relentlessly."

"…civilization’s survival dilemma in the 21st century is best described by a concept from population ecology—overshoot. This refers to the situation where a crucial resource temporarily becomes more abundant, thereby enabling a group of organisms to grow its population beyond levels that can be sustained over the long run. For a population of field mice in overshoot, the critical resource might consist of small plants whose unusually robust growth has been triggered by high levels of rainfall. For humanity currently, the critical resource is fossil energy. Temporary energy abundance has led to many good things (for some of us, anyway): more food, more people, more commercial products, more knowledge, more comfort, and more convenience. But we are about to become victims of our own success."

"...it is not just population that has bloomed. Since 1800, propelled by a 28-fold increase in primary energy use, mostly fossil fuel, real global GDP has increased over 100-fold. World average per capita income (consumption) is up by a factor of 13, rising to 25-fold in the richest countries. As famously observed, Earth is being asked to accept not only more people but ever larger people."

"The so-called ‘environmental crisis’ has little to do with the ‘environment’ and everything to do with excess human demands on natural systems. For several decades, H. sapiens has been in a state of ‘ecological overshoot’—our species is exploiting even renewable resources faster than species and ecosystems can regenerate and dumping (often toxic) waste at rates well beyond nature’s assimilation and recycling capacities; think plunging biodiversity, collapsing fish stocks, desertification, soil depletion, tropical deforestation, ocean pollution, contamination of food supplies, rising atmospheric greenhouse gas concentrations, resultant climate change, etc., etc. By 2016, H. sapiens was 68% in overshoot—i.e., acting as if Earth were 68% larger or more productive than it is."

"Simply stated, people want (and are encouraged to want) goods and services beyond their base needs, and markets are happy to oblige. A common recipe for countries to achieve high standards of living has been the combination of democracy and capitalism. For the most part, people vote for policies that will improve their circumstances, and corporations make decisions aimed at maximizing profits/growth. Politicians and financiers celebrate strong growth numbers (grumbling only when an overheated market might signal runaway inflation) while bemoaning weak quarters, and practically panicking at the prospect of a recessionary period. Today the financialized capitalist economic system dominating human activity is predicated on growth and the expectation of a bigger future, witnessed in interest rates, loans, investments, massive public and private debt, and the outsized role of the banking system. Growth is thought to be such an unarguable good that the UN’s 2015 Sustainable Development Goal #8 actually calls for growth rates of 7% in less developed countries. While this rate is intended to address the inequitable distribution of wealth across nations, the goal is still based on a business-as-usual, fossil-fuel-based economy."

"Yet built-in conflict looms. Growth, both material and economic, simply cannot continue indefinitely on a finite planet. Economists—supported by only a short period of empirical evidence—have argued that substitution and decoupling are mechanisms that can allow for indefinite growth. Plenty of examples from the past bolster such arguments. On substitution, the Stone Age did not end due to a lack of stones, one pithy argument goes. On decoupling, trading fine art has a tiny energy-to-monetary ratio. But the overall evidence does not support the idea that the basic operation of the modern economy can happen without massive material and energy throughput. In practice, efficiency gains are largely erased by further growth. Remember that all such past examples from the industrial era have taken place in the context of unsustainable exploitation of finite resources. The future need not look like the recent past—in fact, cumulative irreversible impacts mean that it can’t."

"The latent fear that civilization is living on borrowed time has also spawned a counter-market of “happily ever after” optimists who desperately cling to their belief in endless progress. Popular Pollyannas, like cognitive psychologist Steven Pinker, provide this anxious crowd with soothing assurances that the titanic ship of progress is unsinkable. Pinker’s publications have made him the high priest of progress. While civilization circles the drain, his ardent audiences find comfort in lectures and books brimming with cherry-picked evidence to prove that life is better than ever, and will surely keep improving. Yet, when questioned, Pinker himself admits, “It’s incorrect to extrapolate that the fact that we’ve made progress is a prediction that we’re guaranteed to make progress.” Pinker’s rosy statistics cleverly disguise the fatal flaw in his argument. The progress of the past was built by sacrificing the future—and the future is upon us. All the happy facts he cites about living standards, life expectancy, and economic growth are the product of an industrial civilization that has pillaged and polluted the planet to produce temporary progress for a growing middle class—and enormous profits and power for a tiny elite."

"…consumption cannot happen without production and cannot happen without extraction from the environment. On the other side, there’s pollution, emissions waste, and, obviously, greenhouse gas emissions. In fact, carbon emissions are the—fun fact—largest waste, largest pollutant, by weight of industrial societies… so much larger than solid waste, for instance. When we consider the whole system, consumption is often viewed as the driver. Sometimes people call production the driver of consumption itself. But consumption is not equally distributed. So almost all environmental impacts can be traced to consumption activities. But those consumption activities themselves can be associated with different income classes around the world. And so one of the things we can see, now that we have much higher resolution data, is that we can really see that high affluence. Income and wealth are always tied to higher levels of consumption, much higher levels of environmental impact. So complete—disproportionately high, in fact—because we see that affluent populations consume more energy-intensive and resource-intensive goods, particularly in the form of transport, than less affluent ones."

"Overshoot is a product of both excessive numbers and rising affluence. Access to the things that create what we call quality of life, like indoor lighting and temperature controls, especially air conditioning; more diverse dietary choices, especially meat; and greater access to transportation, especially air travel — all signs of rising affluence, all delightful if you are a human, yet all demand more energy and material inputs that involve scouring and denuding more wildlands and animal habitat to feed, clothe, house, and energize burgeoning humanity."

"We all are a product of our times where new, shiny, better, and "more, more, more" seem normal, but that’s only a reflection of the abnormal period of the last century or so, as we spend down our earthly inheritance."

"People want stuff. We’re like ravens: “shiny” stuff appeals. Ultimate success means a truly sustainable lifestyle, which could well be materially poorer than today’s life, depending on population. How would we mitigate intrinsic individual desires to acquire more stuff (and power)? It may be a fundamental incompatibility in that evolution prepares self-motivated organisms looking out for their own prosperity. If a species develops “unfair” power advantages that were not part of the evolutionary script, the result may be destined to end poorly as that species uses its discovered power to damage ecosystems beyond repair—ultimately only harming themselves."

"As soon as we take control of who lives and dies (crops, weeds, pests, animals), decide that we can “own” land, accumulate a lot of “things,” commodify food, and transform living beings into property, we have stepped deep into dangerous territory. It is no surprise that such a culture would develop an ingrained sense of human supremacy. […] General-purpose money—exchangeable for practically anything of value—is an outward manifestation of this objectification and arrived as a seemingly inevitable partner to our objectifying, agricultural ways. This construct facilitated and accelerated the pace of unfortunate, exploitative decisions."

"As economies expand beyond subsistence level, a larger fraction of the total activity can go to “frivolous” elements, such as art and entertainment. The intensity of such activities can be quite low. An art collector may pay $1 million for a coveted painting. Very little energy is required. The painting was produced long ago. It may even remain on display in the same location—only the name of the owner changing. Financial transactions that require no manufacture, transport, and negligible energy are said to be “decoupled” from physical resources. Plenty of examples exist in society, and are held up by economists as illustrating how we can continue to expand the economy without a commensurate expansion of resource needs."

"… our current prosperity could be that we entered a period of prosperity due to the easy abundance of fossil fuels and the scarcity imposed upon us by their end could play out similar to the scarcity imposed by the onset of colder weather at the end of the high middle ages."

"The huge success of agriculture and mechanisation, has lead to almost no human being involved in the production of the food that keeps us alive, so we’ve had to invent other ways to kill our time. We now have a huge variety of products and services to help us kill our time before we die. Some of it is pleasurable so we want to do more of it and invent new ways to live. All the time, killing more of the rest of life. But getting here was inevitable because we are a species and don’t have free will to counter [our] inbuilt drives."

"Up until the early twentieth century, marketers focused on functional differentiation. The effectiveness of their work was largely contingent on its ability to ‘spotlight’ functional reasons to buy specific products when people needed them. In essence, the role of marketing was to connect functionally differentiated products with willing buyers. As markets matured, however, competition intensified, and businesses looked to find better ways to differentiate themselves beyond the purely functional. Around this time, Sigmund Freud's nephew, Edward Bernays, began experimenting with his uncle's psychoanalysis work to develop techniques for widespread behavioural manipulation. Bernays later termed this The Engineering of Consent, describing it as the ‘use of an engineering approach – that is, action based only on thorough knowledge of the situation and on the application of scientific principles and tried practices to the task of getting people to support ideas and programs’. Bernays successfully commercialised his work and is commonly regarded as one of the founders of the public relations industry. This novel approach, along with others developed in advertising agencies around the globe, proved highly influential on the way products were marketed and sold to consumers. Suddenly, marketing effectiveness was no longer determined by its ability to ‘raise awareness’ or harvest existing demand but by its ability to deepen and diversify the needs and wants that could be met through personal consumption. This paradigm shift meant that business growth was no longer constrained by people's mere biological requirements, it could instead be unlocked by attaching greater meaning to an effectively infinite number of market offerings. In this brave new world of unchecked business growth, multinationals were no longer marketing hygienic toothpaste, but a mint-flavoured confidence boost – a maintenance purchase was suddenly something that could make you feel more attractive. Cars were no longer being sold based on their functional superiority (i.e. space, speed, comfort, price), but by what they suggested about you as a person (i.e. status, sexiness, rebelliousness, appetite for adventure). In an era saturated by brands and marketing, consumption has become less reflective of our physical needs and more reflective of our runaway psychology. For example, we may buy to boost our mood, reinforce our identity or elevate our social status above others. The targeting of consumers has become increasingly effective through the collection and use of data and analytics. The collection and sale of individuals’ personal data is rampant. Unsurprisingly, tech giants like Google and Facebook are amongst the most active in this space. These companies track and sell not only what consumers view online but also their real-world locations through what is known as RTB (Real-Time Bidding). In the US, users’ personal online data is tracked and shared 294 billion times each day (for your average American, that's 747 times per day). In Europe, that figure was found to be 197 billion times (Google alone shares this personal data about its German users 19.6 million times per minute). Combined that's 178 trillion times per annum. All this leads to incredibly detailed data about individual user behaviours and preferences. In fact, a 2017 report found that by the time a US child reaches 13 years old, Ad Tech companies hold an average of 72 million data points on that child. The subsequent egregious overconsumption, which in combination with the resulting creation of waste, disproportionately multiplied by population, gives the wealthy a far greater negative environmental impact than the poor. Individuals with incomes in the top 10% are now responsible for 25–43% of environmental impact and 47% of CO2 emissions, while the bottom 10% contribute just 3–5% of environmental impact, and the bottom 50% contribute only 10% of CO2 emissions. A recent report found the top 20 wealthiest individuals on Earth produce 8000 times the carbon emissions of the poorest billion people. For sustainability, reductions in FF and material consumption between 40% and 90% are necessary. This may seem unattainable without a proportionate loss in living standards; however, affluent countries exist far beyond sufficiency. In fact, ‘the drastic increases in societies’ energy use seen in recent decades have, beyond a certain point, had no benefit for the well-being of their populations – social returns on energy consumption per capita become increasingly marginal’. As such, multiple studies now demonstrate per-capita energy consumption in many affluent countries could be decreased substantially and quality living standards still maintained."

"An advertising agency is 85% confusion and 15% commission."

"“But your sign says you can conjure up ever-filled purses,” Holger began. “Advertising,” Martinus admitted. “Corroborative detail intended to lend artistic verisimilitude.”"

"Websites peddling disinformation generate more than $2 billion in advertising revenue each year, according to an analysis by NewsGuard and ComScore. Check My Ads says their goal is not just to take that money out of circulation, but to shed new light on just how the shadowy world of online advertising operates. Some 90% of online ads are generated through an automated process, as opposed to being directly placed by a company. Industry insiders call this system "programmatic advertising," which basically means it is automated by computer software, according to Joshua Lowcock, an executive at the marketing and media agency UM. "It's like a stock exchange," Lowcock said. "When you visit a website, there are multiple advertisers bidding on you in a real-time auction.""

"People are taking the piss out of you every day. They butt into your life, take a cheap shot at you and then disappear. They leer at you from tall buildings and make you feel small. They make flippant comments from buses that imply you’re not sexy enough and that all the fun is happening somewhere else. They are on TV making your girlfriend feel inadequate. They have access to the most sophisticated technology the world has ever seen and they bully you with it. They are The Advertisers and they are laughing at you.You, however, are forbidden to touch them. Trademarks, intellectual property rights and copyright law mean advertisers can say what they like wherever they like with total impunity.Fuck that. Any advert in a public space that gives you no choice whether you see it or not is yours. It’s yours to take, re-arrange and re-use. You can do whatever you like with it. Asking for permission is like asking to keep a rock someone just threw at your head.You owe the companies nothing. Less than nothing, you especially don’t owe them any courtesy. They owe you. They have re-arranged the world to put themselves in front of you. They never asked for your permission, don’t even start asking for theirs."

"It is sometimes argued that advertising really does little harm because no one believes it any more anyway. We consider this view to be erroneous. The greatest damage done by advertising is precisely that it incessantly demonstrates the prostitution of men and women who lend their intellects, their voices, their artistic skills to purposes in which they themselves do not believe, and that it teaches [in the words of Leo Marx] ‘the essential meaninglessness of all creations of the mind: words, images, and ideas.’ The real danger from advertising is that it helps to shatter and ultimately destroy our most precious non-material possessions: the confidence in the existence of meaningful purposes of human activity and respect for the integrity of man."

"Advertise your business. Do not hide your light under a bushel."

"The sponsor may be viewed as a potentate with a strong influence over currents of thought in our society, exercised mainly through television [...] It has tended to displace or overwhelm other influences such as newspapers, school, church, grandpa, grandma. It has become the definer and transmitter of society's values."

"There are a lot of great technicians in advertising. And unfortunately they talk the best game. They know all the rules. They can tell you that people in an ad will get you greater readership. They can tell you that a sentence should be this short or that long. They can tell you that body copy should be broken up for easier reading. They can give you fact after fact after fact. They are the scientists of advertising. But there's one little rub. Advertising is fundamentally persuasion and persuasion happens to be not a science, but an art."

"From any cross-section of ads, the general advertiser's attitude would seem to be: if you are a lousy, smelly, idle, underprivileged and oversexed status-seeking neurotic moron, give me your money."

"Advertising sells you things you don't need and can't afford, that are overpriced and don't work. And they do it by exploiting your fears and insecurities, and if you don't have any they'll be glad to give you a few by showing you a nice picture of a woman with big tits. That's the essence of advertising: big tits. Threateningly big tits."

"It seems like the better it gets, the more miserable people become. There’s never a technological advancement where people think, “Wow, we can finally do this!” … And I think a lot of it has to do with advertising. Americans have it constantly drilled into our heads, every fucking day, that we deserve everything to be perfect all the time."

"So, recently, though it wasn’t reported here, there were negotiations with Australia to establish what’s called a free trade agreement.... The negotiations were held up for some time because the United States was objecting to Australia’s highly efficient health care system. ... Why was the U.S. objecting to the Australian system? Well, because the Australian system is evidence-based... They have to provide evidence that the drug actually does something, that it is better than some cheaper thing that’s already on the market. That evidence-based approach, the U.S. negotiators argued, is interference with free markets, because corporations must have the right to deceive... The claim itself is kind of amusing, I mean, even if you believe the free market rhetoric for a moment. The main purpose of advertising is to undermine markets. If you go to graduate school and you take a course in economics, you learn that markets are systems in which informed consumers make rational choices. That’s what’s so wonderful about it. But that’s the last thing that the state corporate system wants. It is spending huge sums to prevent that."

"As the most powerful state, the U.S. makes its own laws, using force and conducting economic warfare at will. It also threatens sanctions against countries that do not abide by its conveniently flexible notions of "free trade." In one important case, Washington has employed such threats with great effectiveness (and GATT approval) to force open Asian markets for U.S. tobacco exports and advertising, aimed primarily at the growing markets of women and children. The U.S. Agriculture Department has provided grants to tobacco firms to promote smoking overseas. Asian countries have attempted to conduct educational anti-smoking campaigns, but they are overwhelmed by the miracles of the market, reinforced by U.S. state power through the sanctions threat. Philip Morris, with an advertising and promotion budget of close to $9 billion in 1992, became China's largest advertiser. The effect of Reaganite sanction threats was to increase advertising and promotion of cigarette smoking (particularly U.S. brands) quite sharply in Japan, Taiwan, and South Korea, along with the use of these lethal substances. In South Korea, for example, the rate of growth in smoking more than tripled when markets for U.S. lethal drugs were opened in 1988. The Bush Administration extended the threats to Thailand, at exactly the same time that the "war on drugs" was declared; the media were kind enough to overlook the coincidence, even suppressing the outraged denunciations by the very conservative Surgeon-General. Oxford University epidemiologist Richard Peto estimates that among Chinese children under 20 today, 50 million will die of cigarette-related diseases..."

"In the 1970s and 1980s, advertising revenues grew faster than the overall economy. Corporate profits began to plunge in the early 1990s and with the dive in profits came a decrease in advertising spending (Woods 1995). In 1991, network ad spending fell more than 7 percent from 1990 figures {Television Bureau of Advertising, in Woods 1995). Newspaper ad spending dropped by the same amount during the same period (Newspaper Advertising Bureau, in Woods 1995), and magazine ad budgets fell 5 percent {Landier, Konrad, Schiller, and Therrien 1991, 67). The advertising industry almost exclusively underwrites mass media in the United States. Newspapers obtain 75 to 80 percent of their revenue from advertisers, general circulation magazines about half (Jhally 1990). All revenue for broadcasts such as television and radio programming come from advertising. Clearly, advertising is the economic lifeblood of the media (Kilbourne 1989). Digital advertising is the new kid on the block. It began in 1998 and includes the Internet and smart phones."

"The average American is exposed to more than 3,000 ads a week and watches three years' worth of TV ads over the course of a lifetime. (Parillo 2008, 96.) This makes advertising perhaps the most powerful educational source in society. In fact, we spend more money on advertising than public education."

"Advertising is an important characteristic of modern capitalism and a contributory factor in the establishment and maintenance of monopoly positions."

"Women in quantitative fields risk being personally reduced to negative stereotypes that allege a sex-based math inability. This situational predicament, termed stereotype threat, can undermine women’s performance and aspirations in all quantitative domains. Gender-stereotypic television commercials were employed in three studies to elicit the female stereotype among both men and women. Study 1 revealed that only women for whom the activated stereotype was self-relevant underperformed on a subsequent math test. Exposure to the stereotypic commercials led women taking an aptitude test in Study 2 to avoid math items in favor of verbal items. In Study 3, women who viewed the stereotypic commercials indicated less interest in educational/vocational options in which they were susceptible to stereotype threat (i.e., quantitative domains) and more interest in fields in which they were immune to stereotype threat (i.e., verbal domains)."

"Exposing participants to gender-stereotypic TV commercials designed to elicit the female stereotype, the present research explored whether vulnerability to stereotype threat could persuade women to avoid leadership roles in favor of nonthreatening subordinate roles. Study 1 confirmed that exposure to the stereotypic commercials undermined women's aspirations on a subsequent leadership task. Study 2 established that varying the identity safety of the leadership task moderated whether activation of the female stereotype mediated the effect of the commercials on women's aspirations. Creating an identity-safe environment eliminated vulnerability to stereotype threat despite exposure to threatening situational cues that primed stigmatized social identities and their corresponding stereotypes."

"I honestly believe that advertising is the most fun you can have with your clothes on."

"You can tell the ideals of a nation by its advertisements."

"This study suggests that sex stereotypes implicitly enacted, but never explicitly articulated, in TV commercials may inhibit women's achievement aspirations. Men and women (N=180) viewed locally produced replicas of four current, sex-stereotyped commercials, or four replicas that were identical except that the sex roles were reversed, or (control) named their favorite TV programs. All subjects then wrote an essay imagining their lives “10 years from now.” The essays were coded for achievement and homemaking themes. Women who viewed traditional commercials deemphasized achievement in favor of homemaking, compared to men and compared to women who had seen reversed role commercials. The reversed role commercials eliminated the sex difference in net achievement focus. Control subjects were indistinguishable from their same-sex counterparts in the traditional condition. The results identified some social changes needed to make “equality of opportunity” a social reality for women as well as men."

"They didn't find those men?" Cayce says. "No. The one you head-butted is probably in a clinic now, getting his nose taped back into shape." Bigend creases his forehead. "You didn't learn that studying marketing, did you?" No. "For all we know. You might have just broken the nose of a junior creative director." "The next junior creative director who tries to mug you, you might break his nose too. But Italians who work in Tokyo ad agencies don't wear Albanian Prada knockoffs."

"The heart is a muscle," Bigend corrects. "You 'know' in your limbic brain. The seat of instinct. The mammalian brain. Deeper, wider, beyond logic. That is where advertising works, not in the upstart cortex. What we think of as 'mind' is only a sort of jumped−up gland, piggybacking on the reptilian brainstem and the older, mammalian mind, but our culture tricks us into recognizing it as all of consciousness. The mammalian spreads continent-wide beneath it, mute and muscular, attending its ancient agenda. And makes us buy things."

"Give them quality. That's the best kind of advertising in the world."

"Research on women in print advertisements has shown that pictures of women's bodies and body parts ("body-isms") appear more often than pictures of men's bodies. Men's faces ("face-isms") are photographed more often than their bodies. This present study is the first to confirm this finding for television commercials. Results showed that men appear twice as often as women in beer commercials. The body-isms of women significantly outnumbered the body-isms of men. Women also appeared in swimwear more often than men, thus increasing the photo opportunities for body-isms. This study raises concerns about the dehuman&ing influence of these images in beer commercials, and their association with alcohol use and the violence in the televised sporting events during which beer commercials are frequently aired."

"Advertising, in fact, is the main storyteller of our society. The right question to ask is not whether this or that ad sells what it is advertising, but what are the consistent stories that advertising tells as a whole about what is important in the world, about how to behave, and about what is good and bad?"

"For the next few months, I kept noticing ads that demeaned women in popular magazines as well as in The Lancet. “Advertising reinforces the idea that only one kind of beauty is valuable—white, thin, and young. Women of color are often invisible in mainstream advertising or are presented in ways that make them appear exotic, and they are encouraged to conform to white standards of beauty to be considered attractive.” Many of them ended up on my refrigerator. Some of them were outrageous. ("My boyfriend told me he loved me for my mind. I was never so insulted in my life," said a woman with a cigarette.) Many were demeaning, such as the adfor a "feminine hygiene" spray that said, "You don't sleep with teddy bears any more," implying that, although our teddy bears don't mind how we women smell, our boyfriends do. Somewere shockingly violent. I began to notice patterns and categories. I saw that women's bodies were often dismembered in ads-just legs or breasts or torsos were featured. I saw that women were often infantilized and that little girls were sexualized. ("You're a Halston woman from the very beginning," said a shampoo ad, featuring a girl of about five.) I bought a macrolens for my camera and turned the ads into slides. I wasn't sure what I was going to do with them. I had begun my life's work."

"You may be unaware of where your messages are showing up and what content your brand is living next to," said Jon Klein, the former president of CNN who now works in digital media. "It's the nightmare of most responsible marketers."

"Free speech is meaningless if the commercial cacophony has risen to the point where no one can hear you."

"Society drives people crazy with lust and calls it advertising."

"The power of advertising to persuade, manipulate, and shape behavior has long been recognized. Bretl and Cantor (1988) estimated that the average American is exposed to over 37,000 advertisements each year through the medium of television alone. Whereas there has been considerable investigation of gender role portrayals in advertisements, comparatively little empirical attention has been paid to the portrayal of sexuality in advertisements."

"This study examined whether exposure to TV ads that portray women as sex objects causes increased body dissatisfaction among women and men. Participants were exposed to 15 sexist and 5 nonsexist ads, 20 nonsexist ads, or a no ad control condition. Results revealed that women exposed to sexist ads judged their current body size as larger and revealed a larger discrepancy between their actual and ideal body sizes (preferring a thinner body) than women exposed to the nonsexist or no ad condition. Men exposed to the sexist ads judged their current body size as thinner, revealed a larger discrepancy between their actual and ideal body size (preferring a larger body), and revealed a larger discrepancy between their own ideal body size and their perceptions of others’ male body size preferences (believing that others preferred a larger ideal) than men exposed to the nonsexist or no ad condition. Discussion focuses on the cognitive, attitudinal, and behavioral consequences of exposure to gender stereotypic television advertising."

"This study was designed to examine the portrayal of women in advertisements in a general interest magazine (i.e., Time) and a women's fashion magazine (i.e., Vogue) over the last 50 years. The coding scheme used for this analysis was based on the one developed by sociologist Erving Goffman in the 1970s, which focuses primarily on the subtle and underlying clues in the picture content of advertisements that contain messages in terms of (stereotypical) gender roles. The results of this study show that, overall, advertisements in Vogue, a magazine geared toward a female audience, depict women more stereotypically than do those in Time, a magazine with the general public as a target audience. In addition, only a slight decrease in the stereotypical depiction of women was found over time, despite the influence of the Women's Movement."

"Advertising may be described as the science of arresting the human intelligence long enough to get money from it."

"She’s the quintessence of the horror behind the bright billboard. She’s the smile that tricks you into throwing away your money and your life. She’s the eyes that lead you on and on, and then show you death. She’s the creature you give everything for and never really get. She’s the being that takes everything you’ve got and gives nothing in return. When you yearn towards her face on the billboards, remember that. She’s the lure. She’s the bait. She’s the Girl."

"Advertising is a valuable economic factor because it is the cheapest way of selling goods, particularly if the goods are worthless."

"It is impossible to understand the American public without taking into account the tremendous psychological effect of bringing up a generation of people in a daily environment of advertising. It is impossible to escape the advertising man; his sales talk assaults us in the morning newspaper, in the street car, with billboards along the highways, and in his shameless use of the radio. This means that from morning till night, in the midst of our work as in our recreation, we live constantly in an atmosphere of intellectual shoddiness. Every popular prejudice and vulgar conceit is played upon and pandered to in the interests of salesmanship. Everywhere material interests and herd opinion are strengthened to the loss of personal independence. The tendency is to think and speak for effect rather than out of one's inner life. There is a marked decline the ability to play with ideas, or to live the spiritual life for its own sake. Hence a decline in civilization of interest, humor and urbanity. Advertising tends to make mechanized barbarians of us all."

"The modern Little Red Riding Hood, reared on singing commercials, has no objection to being eaten by the wolf."

"Ads are the cave art of the twentieth century."

"Nowhere, except perhaps in the analogous society of pagan Rome, has there ever been such a flowering of cheap and petty and disgusting lusts and vanities as in the world of capitalism, where there is no evil that is not fostered and encouraged for the sake of making money. We live in a society whose whole policy is to excite every nerve in the human body and keep it at the highest pitch of artificial tension, to strain every human desire to the limit and to create as many new desires and synthetic passions as possible, in order to cater to them with the products of our factories and printing presses and movie studios and all the rest."

"They deny good luck, love, power, romance, and inspiration From La Jac Brite ointment and incense of all kinds, And condemn in writing skin brightening and whitening and whitening of minds.There is upon the federal trade commission a burden of glory So to defend the fact, so to impel The plucking of hope from the hand, honor from the complexion, Sprite from the spell."

"The rich philistinism emanating from advertisements is due not to their exaggerating (or inventing) the glory of this or that serviceable article but to suggesting that the acme of human happiness is purchasable and that its purchase somehow ennobles the purchaser."

"Are you sensitive? Are you easily hurt? Do you take adverse criticism to heart? Do you sometimes feel that life is passing you by? That the other man gets more out of life than you do? You do? Good. Well, keep it up. That's why we in advertising make so much money... LEGAL. DECENT. HONEST. TRUTHFUL... Are you those things too? Oh goody, better and better! Yum, yum, yum."

"By saturating the public domain with false sincerity, advertising makes genuine sincerity more difficult."

"Advertising has us chasing cars and clothes, working jobs we hate so we can buy shit we don't need."

"Advertising design, in persuading people to buy things they don’t need, with money they don’t have, in order to impress others who don’t care, is probably the phoniest field in existence today."

"Advertising reaches out to touch the fantasy part of people's lives. And you know, most people's fantasies are pretty sad."

"Living in age of advertisement, we are perpetually disillusioned. The perfect life is spread before us every day, but it changes and withers at a touch."

"It is never silent, it drowns out all other voices, and it suffers no rebuke, for is it not the voice of America? [...] It has taught us how to live, what to be afraid of, how to be beautiful, how to be loved, how to be envied, how to be successful. ... Is it any wonder that the American population tends increasingly to speak, think, feel in terms of this jabberwocky? That the stimuli of art, science, religion are progressively expelled to the periphery of American life to become marginal values, cultivated by marginal people on marginal time?"

"The Federal Radio Commission has interpreted the concept of public interest so as to favor in actual practice one particular group … the commercial broadcasters."

"The notion that ads convey meaning about gender without viewers’ awareness is not new. In his influential Gender Advertisements, Goffman (1979) argued that advertisements symbolically reflect social-cultural constructions of gender through displays of posture, positioning, facial expressions, and social roles: Sitting at a man’s feet (ritualized subordination), gazing off absently (licensed withdrawal), or gently caressing an object (feminine touch) all demonstrate women’s inferior status. According to Goffman, however, we fail to recognize the sexism in these images precisely because they reflect our unexamined assumptions about gender. Nonetheless, these gender displays allegedly perpetuate sexist stereotypes. Despite the complete lack of empirical evidence showing that these images promote sexist beliefs or attitudes, Goffman’s analysis is widely accepted by scholars, who regularly employ his taxonomy of gender displays to establish the prevalence of sexism in the media (e.g., Belknap & Leonard, 1991; Kang, 1997; Krassas, Blauwkamp, & Wesselink, 2003; Lindner, 2004; Millard & Grant, 2006; Plous & Neptune, 1997)."

"In sum, there is clear support for the prediction that ads with latent sexism produce greater acceptance of sexual assault compared with nonsexist ads. There is also evidence that the effects of latent sexism on acceptance of sexual assault and minimization of sexual coercion are distinct from the effects of overt sexism. Yet, because the ads in the latent, overt, and no sexism conditions differed in ways other than the type of sexist content, the internal validity of the ad effects remains a concern."

"advertising [...] makes you spend money you haven't got for things you don't want."

"In Australia, the Human Rights and Equal Opportunity Commission specifically lists the display of pin-ups as an example of sexually harassing behaviour. While sexual harassment legislation in both Australia and the United States covers sites including workplaces and educational institutions, such legislation has not been designed to include sexual harassment occurring in public space. This article will explore the reality that outdoor advertisements on public display are visually very similar to sexually harassing pin-ups, as will be demonstrated through references to examples collected as part of a year long study of outdoor advertising in Melbourne, Australia. Because of the visual similarities between outdoor advertising and, for example, pin-ups which are prohibited in sites such as workplaces, this article suggests that both media should be critiqued in the exact same manner. This article argues that the specific elements that make sexual harassment inappropriate in the workplace – i.e., the captive environment that is created whereby exposure to sexual images is unavoidable – is a situation replicated in public space with a person utilising space being held captive in a similar manner. Similarly, this article will explore the manner in which pin-ups masculinise a workplace in the same way that sexist outdoor advertisements masculinise public space. The usefulness, limitations and feasibility of the application of sexual harassment discussions to sexist outdoor advertisements will also be considered."

"This study examines the way female and male models are portrayed in magazine advertisements. Specifically. we focus on differences in sex role stereotyping, sexual display of the body, and violent imagery. Data were collected from a stratitied random sample of magazines displaying fashion and fitness advertisements (N = 254). Findings from he analysis show that females are more likely than males to be placed in submissive positions, sexually displayed, and subjects of violent imagery. Sexual display and violent imagery measures are the strongest predictors of subjective level of exploitation."

"There are huge advertising budgets only when there's no difference between the products. If the products really were different, people would buy the one that's better. Advertising teaches people not to trust their judgment. Advertising teaches people to be stupid."

"Papa, what is the moon supposed to advertise?"

"Women who were exposed to advertisements that portrayed women in their traditional role as homemakers reported less favorable attitudes toward political participation than women who were not exposed to advertisements. Exposure to portrayals of women as sex objects, on the other hand, did not affect women's attitudes. In contrast, men reported less favorable attitudes toward political participation after exposure to advertisements that portrayed women as sex objects, but were not affected by portrayals of women as homemakers. Implications for the influence of sex roles on political participation and the impact of sexist advertisements are discussed."

"Advertising has sometimes been depicted as simply another cost added on to the cost of producing goods and services. However, in so far as advertising causes more of the advertised product to be sold, economies of scale can reduce production costs, so that the same product may cost less when it is advertised, rather than more. Advertising itself of course has costs, both in the financial sense and in the sense of using resources. But it is an empirical question, rather than a foregone conclusion, whether the costs of advertising are greater or less than the reductions of production costs made possible by the economies of scale which it promotes. This can obviously vary from one firm or industry to another."

"Advertising is the whip which hustles humanity up the road to the Better Mousetrap. It is the vision which reproaches man for the paucity of his desires."

"Many a small thing has been made large by the right kind of advertising."

"Two matched series of TV commercials served as stimuli in a study with 52 female undergraduates. One series consisted of 4 replicas of current network commercials. The other series consisted of the same 4 commercials, identical in every respect except that each of the roles in the scenario was portrayed by a person of the opposite sex. Ss viewed either the traditional or reversed-role series. Those exposed to the nontraditional versions showed more independence of judgment in an Asch-type conformity test and displayed greater self-confidence when delivering a speech, thus supporting the hypothesis that commercials function as social cues to trigger and reinforce sex role stereotypes. Findings suggest that repeated exposure to nonstereotypic commercials might help produce positive and lasting behavioral changes in women. (24 ref) (PsycINFO Database Record (c) 2016 APA, all rights reserved)"

"Half the money I spend on advertising is wasted, and the trouble is I don't know which half."

"Between a poem by Valéry and an advertisement for a beauty cream promising a rich marriage to anyone who used it there was at no point a breach of continuity. So as a result of literature’s spiritual usurpation a beauty cream advertisement possessed, in the eyes of little village girls, the authority that was formerly attached to the words of priests."

"Jason Lynch: What did the advertising industry think of the show?"

"Jason Lynch: How has the experience of making Mad Men changed your view of advertising now?"

""We decided to dig deep and pay for television ads we weren't planning to buy because we wanted to make the point that Fox News is out of the mainstream," the movie's director, Marshall Curry, told The Post, adding that he believed the network's rejection of the ad was politically motivated. "It says something that some news channels trust their audience to interpret American history while Fox distrusts its audience and doesn't think it can do that." A spokesman for MSNBC said the company initially rejected the ad because an NBC UNiversal standards group deemed the content too provocative. But the group then gave the filmmakers notes on potential changes that would make the ad acceptable for its airwaves, particularly saying the ad would need context before diving into the Nazi footage. The filmmakers returned with a version that included a title card explaining this was part of an Oscar-nominated film. "We wanted to make sure viewers had full understanding and appropriate context of this ad. And the filmmakers were open to feedback to make a change," the spokesman, Joe Benarroch, told The Post. A CNN spokeswoman did not immediately reply to a request for comment. Asked about the new developments, a Fox News spokeswoman re-sent a statement from earlier in the week by president of ad sales Marianne Gambelli which said the “ad in question is full of disgraceful Nazi imagery regardless of the film’s message and did not meet our guidelines.”"

"If vices were profitable, the virtuous man would be the sinner."

"O proud philanthropist, your hope is vain"

"There are some sordid minds, formed of slime and filth, to whom interest and gain are what glory and virtue are to superior souls; they feel no other pleasure but to acquire money."

"The infinite, absolute character of Virtue has passed into a finite, conditional one; it is no longer a worship of the Beautiful and Good; but a calculation of the Profitable."

"Market signals were clear: There’s no profit in preventing a future catastrophe."

"We may add that focus on maximizing profits is also "not always consistent" with the hope for "the survival of humanity," to borrow the phrase of a leaked memo from , [the U.S.’s] largest bank, warning that "the survival of humanity" is at risk on our current course, including the bank's own investments in fossil fuels. Thus, canceled a profitable sustainable energy project because there’s more profit to be made in destroying life on Earth. ExxonMobil refrained from doing so, because [it] had never opened such a project in the first place, having made more rational calculations of profitability. And rightly so, according to neoliberal doctrine. As Milton Friedman and other neoliberal luminaries have instructed us, the task of corporate managers is to maximize profits. Any deviation from this moral obligation would shatter the foundations of "civilized life.""

"The promise of every product and service is a better life. Profits are the prize for delivering on the promise."

"… actions whose motives he cannot understand—that is, actions not prompted by the hope of profit."

"He is like all the rest: a slave to profit, a master only to his bent for negotiating the best deal."

"What the English call “comfortable” is something endless and inexhaustible. Every condition of comfort reveals in turn its discomfort, and these discoveries go on for ever. Hence the new want is not so much a want of those who have it directly, but is created by those who hope to make profit from it."

"The thing we must do intensely is be human together. People are more important than things. We must get together. The best thing humans can have going for them is each other. We have each other. We must reject everything which humiliates us. Humans are not objects of consumption. We must develop an absolute priority of humans ahead of profit — any humans ahead of any profit. Then we will survive. … Together."

"Reflective apologists for war at the present day all take it religiously. It is a sort of sacrament. It's profits are to the vanquished as well as to the victor; and quite apart from any question of profit, it is an absolute good, we are told, for it is human nature at its highest dynamic."

"For what shall it profit a man, if he gain the whole world, but suffer the loss of his soul?"

"I'm convinced that if we are to get on the right side of the world revolution, we as a nation must undergo a radical revolution of values. We must rapidly begin the shift from a thing-oriented society to a person-oriented society. When machines and computers, profit motives and property rights are considered more important than people, the giant triplets of racism, militarism and economic exploitation are incapable of being conquered."

"For the corporation executives, the military metaphysic … often coincides with their interest in a stable and planned flow of profit; it enables them to have their risk underwritten by public money; it enables them reasonably to expect that they can exploit for private profit now and later, the risky research developments paid for by public money. It is, in brief, a mask of the subsidized capitalism from which they extract profit and upon which their power is based."

"I don't think that corporations are these big bogeymen that a lot of people paint them to be. … A corporation is a group of people, and if you want to come together for profit or nonprofit, that's your business—whatever you want to do."

"It is no longer economy aiming at individual profit, but economy concerned with collective interest."

"The love of gain, which is a large, incalculably large, element in every soul, when once applied to the desire for God, will bless the man who has it."

"When a firm makes a profit this means that productive factors have been properly employed and corresponding human needs have been duly satisfied."

"Such is the fate of everyone who goes in search of profit; it takes away the life of its owners."

"For the words of the profits were written on the studio wall"

"When by habit a man cometh to have a bargaining soul, its wings are cut, so that it can never soar. It bindeth reason an apprentice to gain, and instead of a director, maketh it a drudge."

"Cui prodest scelus, is fecit."

"Whoever has a keen eye for profits, is blind in relation to his craft."

"Spend time on excellence, and love the right, And don’t let shameful profit master you."

"In aristocracies, it is not precisely work that is scorned, but work with a view to profit. Work is glorious when ambition or virtue alone makes one undertake it. … The idea of gain remains distinct from that of work. No matter that they are joined in fact. … In democratic societies, these two ideas are, on the contrary, always visibly united."

"Private property … has led Individualism entirely astray. It has made gain not growth its aim. So that man thought that the important thing was to have, and did not know that the important thing is to be. The true perfection of man lies, not in what man has, but in what man is."

"The reason that the United States had a banking industry that was radically better for the economic prosperity of the country had nothing to do with differences in the motivation of those who owned the banks. Indeed, the profit motive, which underpinned the monopolistic nature of the banking industry in Mexico, was present in the United States, too. But this profit motive was channeled differently because of the radically different U.S. institutions. The bankers faced different economic institutions, institutions that subjected them to much greater competition. And this was largely because the politicians who wrote the rules for the bankers faced very different incentives themselves, forged by different political institutions. Indeed, in the late eighteenth century, shortly after the Constitution of the United States came into operation, a banking system looking similar to that which subsequently dominated Mexico began to emerge. Politicians tried to set up state banking monopolies, which they could give to their friends and partners in exchange for part of the monopoly profits. The banks also quickly got into the business of lending money to the politicians who regulated them, just as in Mexico. But this situation was not sustainable in the United States, because the politicians who attempted to create these banking monopolies, unlike their Mexican counterparts, were subject to election and reelection. Creating banking monopolies and giving loans to politicians is good business for politicians, if they can get away with it. It is not particularly good for the citizens, however. Unlike in Mexico, in the United States the citizens could keep politicians in check and get rid of ones who would use their offices to enrich themselves or create monopolies for their cronies. In consequence, the banking monopolies crumbled. The broad distribution of political rights in the United States, especially when compared to Mexico, guaranteed equal access to finance and loans. This in turn ensured that those with ideas and inventions could benefit from them."

"“They do not know how to do right,” declares the Lord,"

"The modern banking system manufactures “money” out of nothing; and the process is, perhaps, the most, astounding piece of “sleight of hand” that was ever invented. In fact, it was not invented. It merely “grew”. … Banks in fact are able to create (and cancel) modern “deposit money”, just as much as they were originally able to create, or call in, their own original forms of private notes. They can, in fact, inflate and deflate, i.e., mint, and un-mint the modern “ledger-entry” currency."

"The best way to rob a bank is to own one."

"I am just a banker "doing God’s work"."

"Banks are the temples of America. This is a holy war. Our economy is our religion."

"Banks do not have an obligation to promote the public good."

"The actual process of money creation takes place in commercial banks. As noted earlier, demand liabilities of commercial banks are money. … Confidence in these forms of money also seems to be tied in some way to the fact that assets exist on the books of the government and the banks equal to the amount of money outstanding, even though most of the assets themselves are no more than pieces of paper..."

"Commercial banks create checkbook money whenever they grant a loan, simply by adding new deposit dollars in accounts on their books in exchange for a borrower's IOU."

"The 12 regional reserve banks aren't government institutions, but corporations nominally 'owned' by member commercial banks."

"We are not against borrowing money and we are not against bankers. We are against trying to make borrowed money take the place of work. We are against the kind of banker who regards a business as a melon to be cut. The thing is to keep money and borrowing and finance generally in their proper place, and in order to do that one has to consider exactly for what the money is needed and how it is going to be paid off."

"Bankers have no right to establish a customary law among themselves, at the expence of other men."

"The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it."

"The process by which banks create money is so simple that the mind is repelled."

"The use of money does not disestablish the normal process of creating credit. Money, it is true, is always being paid into the banks by the retailers and others who receive it in the course of business, and they of course receive bank credits in return for the money thus deposited. But for the manufacturers and others who have to pay money out, credits are still created by the exchange of obligations, the banker's immediate obligation being given to his customer in exchange for the customer's obligation to repay at a future date. We shall still describe this dual operation as the creation of credit. By its means the banker creates the means of payment out of nothing, whereas when he receives a bag of money from his customer, one means of payment, a bank credit, is merely substituted for another, an equal amount of cash."

"And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale."

"Money is created when banks lend it into existence. When a bank provides you with a $100,000 mortgage, it creates only the principal, which you spend and which then circulates in the economy. The bank expects you to pay back $200,000 over the next 20 years, but it doesn't create the second $100,000 - the interest. Instead, the bank sends you out into the tough world to battle against everybody else to bring back the second $100,000."

"While economic textbooks claim that people and corporations are competing for markets and resources, I claim that in reality they are competing for money - using markets and resources to do so. So designing new money systems really amounts to redesigning the target that orients much human effort... Greed and competition are not a result of immutable human temperament... greed and fear of scarcity are in fact being continuously created and amplified as a direct result of the kind of money we are using. For example, we can produce more than enough food to feed everybody, and there is definitely enough work for everybody in the world, but there is clearly not enough money to pay for it all. The scarcity is in our national currencies. In fact, the job of central banks is to create and maintain that currency scarcity. The direct consequence is that we have to fight with each other in order to survive."

"So limited is our knowledge that we resort, not to science, but to shamans. We place control of the world's largest economy in the hands of a few elderly men, the central bankers."

"With money every form of intercourse, and intercourse itself, is considered fortuitous for the individuals."

"We [Banks] have a "right to make a profit""

"But please do not think that I am not fond of banks, Because I think they deserve our appreciation and thanks."

"Since those who rule in the city do so because they own a lot, I suppose they're unwilling to enact laws to prevent young people who've had no discipline from spending and wasting their wealth, so that by making loans to them, secured by the young people's property, and then calling those loans in, they themselves become even richer and more honored."

"In the epoch of imperialism, the bankers became the aristocrats of the capitalist world."

"There ain't nothin' to it. You go into the fancy meeting room and you just sit there and never open your yap. As long as you don't say nuthin' they don't know whether you're smart or dumb. When the question of a loan comes up, if it's a friend of yours, you vote to give it to him and if he ain't a friend, you don't."

"Globalization creates interlocking fragility, while reducing volatility and giving the appearance of stability. In other words it creates devastating Black Swans. We have never lived before under the threat of a global collapse. Financial Institutions have been merging into a smaller number of very large banks. Almost all banks are interrelated. So the financial ecology is swelling into gigantic, incestuous, bureaucratic banks — when one fails, they all fall. The increased concentration among banks seems to have the effect of making financial crisis less likely, but when they happen they are more global in scale and hit us very hard. We have moved from a diversified ecology of small banks, with varied lending policies, to a more homogeneous framework of firms that all resemble one another. True, we now have fewer failures, but when they occur... I shiver at the thought."

"The banks do create money. They have been doing it for a long time, but they didn't quite realise it, and they did not admit it. Very few did. You will find it in all sorts of documents, financial textbooks, etc. But in the intervening years, and we must all be perfectly frank about these things, there has been a development of thought, until today I doubt very much whether you would get many prominent bankers to attempt to deny that banks create credit."

"There is no group of people on the planet more stupid than bankers. They should be called bonkers. Look at the famous banks that are suddenly losing billions, because they handed out loans like lunatics."

"Big banks treat government fines as the cost of doing business. This settlement lets bad bank executives off the hook for allowing TD Bank to be used as a criminal slush fund. The Department of Justice and the Office of the Comptroller of the Currency need to do better in enforcing our anti-money laundering laws.”"

"Bankers play far too great a part in the conduct of industry..."

"The average successful banker is by no means so intelligent and resourceful a man as is the average successful business man. Yet the banker through his control of credit practically controls the average business man."

"The banker is, as I have noted, by training and because of his position, totally unsuited to the conduct of industry. If, therefore, the controllers of credit have lately acquired this very large power, is it not to be taken as a sign that there is something wrong with the financial system that gives to finance instead of to service the predominant power in industry? It was not the industrial acumen of the bankers that brought them into the management of industry."

"My objection to bankers has nothing to do with personalities. I am not against bankers as such. We stand very much in need of thoughtful men, skilled in finance. The world cannot go on without banking facilities. We have to have money. We have to have credit. Otherwise the fruits of production could not be exchanged. We have to have capital. Without it there could be no production. But whether we have based our banking and our credit on the right foundation is quite another matter."

"The bankers who do straight banking should regard themselves as naturally the first men to probe and understand our monetary system—instead of being content with the mastery of local banking-house methods; and if they would deprive the gamblers in bank balances of the name of "banker" and oust them once for all from the place of influence which that name gives them, banking would be restored and established as the public service it ought to be, and the iniquities of the present monetary system and financial devices would be lifted from the shoulders of the people."

"If the present faulty system is more profitable to a financier than a more perfect system would be, and if that financier values his few remaining years of personal profits more highly than he would value the honour of making a contribution to the life of the world by helping to erect a better system, then there is no way of preventing a clash of interests. But it is fair to say to the selfish financial interests that, if their fight is waged to perpetuate a system just because it profits them, then their fight is already lost. Why should finance fear? The world will still be here. Men will do business with one another. There will be money and there will be need of masters of the mechanism of money. Nothing is going to depart but the knots and tangles. There will be some readjustments, of course. Banks will no longer be the masters of industry. They will be the servants of industry."

"Business will control money instead of money controlling business. The ruinous interest system will be greatly modified. Banking will not be a risk, but a service. Banks will begin to do much more for the people than they do now, and instead of being the most expensive businesses in the world to manage, and the most highly profitable in the matter of dividends, they will become less costly, and the profits of their operation will go to the community which they serve."

"The death of Lincoln was a disaster for Christendom. There was no man in the United States great enough to wear his boots and the bankers went anew to grab the riches. I fear that foreign bankers with their craftiness and tortuous tricks will entirely control the exuberant riches of America and use it to systematically corrupt modern civilization."

"The bank hath benefit of interest on all moneys which it creates out of nothing."

"Banking was conceived in iniquity and was born in sin. The Bankers own the earth. Take it away from them, but leave them the power to create deposits, and with the flick of the pen they will create enough deposits to buy it back again. However, take this power away from them, and all the great fortunes disappear, and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of Bankers and pay the cost of your own slavery, let them continue to create money and control credit."

"What it comes down to is this: the grocer, the butcher, the baker, the merchant, the landlord, the druggist, the liquor dealer, the policeman, the doctor, the city father and the politician – these are the people who make money out of prostitution, these are the real reapers of the wages of sin."

"Slickback: So you see, my dearest Riley, it is this instinctive and burning need to procreate between a man and a bitch that not only keeps the human race going but also fuels many important industries such as my very own. Riley: So what do you think about Homies Over Hoes? Slickback: Is that something at Denny's? I don't know what that is. Riley: Homies Over Hoes? You know, like, you supposed to put your homie over a ho. That's how pimps do, right? Slickback: I don't think Homies Over Hoes is a sentiment that A Pimp Named Slickback can cosign, Riley. I mean don't get me wrong. A Pimp Named Slickback would put a lot of things over a ho. Money over a ho? Always. Brand new gators over a ho? Absolutely. A turkey sandwich with just tomato? Guaranteed. But homies? Oh no."

"To you, a prostitute is some kind of beautiful object. You respect her as you do the Mona Lisa, in front of whom you also would not make an obscene gesture. But in so doing, you think nothing of depriving thousands of women of their souls and relegating them to an existence in an art gallery. As if we consort with them so artistically! Are we being honest when we call prostitution "poetic." I protest in the name of poetry. And we are being infinitely smug when, with subjective self-promotion, we believe we are able to endow the prostitute's life with meaning. I would like you to acknowledge the shallow aestheticism of what you write. You yourself do not want to relinquish humanity. Yet you would have us believe that there are people who are objects. You arrogate human dignity to yourself. As for the rest, they are pretty things. And why? So that we have a noble gesture for ignoble deeds."

"But most thro’ midnight streets I hear How the youthful Harlot's curse Blasts the new-born Infant's tear And blights with plagues the Marriage hearse."

"On the evening of the last day of October, 1501, Cesare Borgia arranged a banquet in his chambers in the Vatican with "fifty honest prostitutes", called courtesans, who danced after dinner with the attendants and others who were present, at first in their garments, then naked. After dinner the candelabra with the burning candles were taken from the tables and placed on the floor, and chestnuts were strewn around, which the naked courtesans picked up, creeping on hands and knees between the chandeliers, while the Pope, Cesare, and his sister Lucretia looked on. Finally, prizes were announced for those who could perform the act most often with the courtesans, such as tunics of silk, shoes, barrets, and other things."

"Prostitution accordingly not only became a tolerated occupation in many medieval communities, but was even treated in some places as a public utility of sorts. In the fourteenth century many towns carried this principle to its logical conclusion and began to build and operate municipal brothels as a means of regulating the sex trade while realizing a profit from it at the same time. Moral ambiguity concerning the prostitution industry long persisted, and the public policy on the matter still remains controversial in Western societies.Both lawyers and lawgivers typically sought to contain the practice of prostitution by restricting harlots and brothels to specially-designated regions within towns. Municipal statutes, following the decree of the Fourth Lateran Council, often required prostitutes to wear distinctive collectors and types of clothing. The rationale that lawmakers usually proposed to explain such regulations was that they would spare respectable women, especially the wives and daughters of established citizens, from the sexual importuning of randy men. This, in turn, was justified as a means to preserve civic peace and harmony. Municipal authorities also attempted in many places to restrict the practice of prostitution to well-defined and usually marginal regions within their towns. Here again they habitually invoked the public good as a reason for these restrictions, although it seems likely that legislation of this sort may also have served the economic and social interests of landlords and property owners in the more salubrious and desirable neighborhoods of the town.Church leaders and civic authorities alike, moreover, were concerned to provide women who wished to abandon the life of shame with realistic opportunities to do so. Thus, for example Pope Innocent III early in the thirteenth century reversed a long-standing policy that had prohibited good Christian men from marrying prostitutes. Innocent not merely permitted these marriages, but positively encouraged them and promised spiritual rewards for men who married loose women, provided of course that the husbands of former prostitutes kept close watch over their wives to make sure that they remained sexually faithful and did not return to their wanton ways. The prospect of marrying a reformed prostitute may well have been especially alluring to financially disadvantaged men, since successful strumpets occasionally managed to accumulate tidy dowries from the profits of their trade."

"The thirteenth century likewise witnessed the creation of convents and religious orders of women that provided a haven and a degree of security and chaste companionship for reformed daughters of joy. The most successful of thee religious institutes, the Order of St. Mary Magdalene (whose members were informally known as the White Ladies, established houses in many major European cities and in a surprising number of minor one as well. Such institutions in effect constituted a social security system of sorts for prostitutes who wished to retire from their occupation but required both social and economic support in order to do so."

"No Israelite man or woman is to become a shrine prostitute. You must not bring the earnings of a female prostitute or of a male prostitute into the house of the Lord your God to pay any vow, because the Lord your God detests them both."

"I can enjoy her while she's kind; But when she dances in the wind, And shakes the wings and will not stay, I puff the prostitute away: The little or the much she gave is quietly resign'd: Content with poverty, my soul I arm; And virtue, though in rags, will keep me warm."

"The UN working group’s recommendation that sex workers’ rights need to be better protected in international human rights law is an important step in addressing the widespread discrimination sex workers face across the globe. It recommended that full decriminalization of adult voluntary sex work holds the greatest promise to address the systemic discrimination and violence sex workers frequently suffer, as well as impunity for violations of sex workers’ rights. It says that sex workers should be involved in creating the legal and policy frameworks that impact them, as they are often left out of this process, have their views ignored, or are otherwise marginalized. Human rights standards relating to sex workers’ rights are currently limited, and whether and how to advance them has often been a divisive issue. These recommendations offer a way forward that could allow all human rights defenders to come together and build a common position."

"Madams moved west as entrepreneurs, and though the New Western history has touched on many topics, the business end of frontier prostitution remains virgin territory, so to speak. Knowledgeable madams first tried the cowtowns of Kansas and then moved west into the mining camps of Colorado. Moving east from San Francisco into the uproar of Virginia City Nevada, madams issues tokens worth from 5 to 50 cents. In the brawling, bustling Western mining camps, according to Mark Twain in his class book Roughing It, full jails and hordes of prostitutes were signs of prosperity."

"Prostitutes are the inevitable product of a society that places ultimate importance on money, possessions, and competition."

"[Haitian women] were straightforward about the nonvoluntary aspect of their sexual activity: in their opinions, poverty had forced them into unfavorable unions. Under such conditions, one wonders what to make of the notion of ‘consensual sex.’"

"Better a live whore than a dead virgin!"

"And Hamor and Shechem his son came unto the gate of their city, and communed with the men of their city, saying,These men are peaceable with us; therefore let them dwell in the land, and trade therein; for the land, behold, it is large enough for them; let us take their daughters to us for wives, and let us give them our daughters.Only herein will the men consent unto us for to dwell with us, to be one people, if every male among us be circumcised, as they are circumcised.Shall not their cattle and their substance and every beast of theirs be ours? only let us consent unto them, and they will dwell with us.And unto Hamor and unto Shechem his son hearkened all that went out of the gate of his city; and every male was circumcised, all that went out of the gate of his city.And it came to pass on the third day, when they were sore, that two of the sons of Jacob, Simeon and Levi, ’s brethren, took each man his sword, and came upon the city boldly, and slew all the males.And they slew Hamor and Shechem his son with the edge of the sword, and took Dinah out of Shechem’s house, and went out.The sons of Jacob came upon the slain, and spoiled the city, because they had defiled their sister.They took their sheep, and their oxen, and their asses, and that which was in the city, and that which was in the field,And all their wealth, and all their little ones, and their wives took they captive, and spoiled even all that was in the house.And Jacob said to Simeon and Levi, Ye have troubled me to make me to stink among the inhabitants of the land, among the Canaanites and the Perizzites: and I being few in number, they shall gather themselves together against me, and slay me; and I shall be destroyed, I and my house.And they said, Should he deal with our sister as with an harlot?"

"Prostitution, although hounded, imprisoned, and chained, is nevertheless the greatest triumph of Puritanism. It is its most cherished child, all hypocritical sanctimoniousness notwithstanding. The prostitute is the fury of our century, sweeping across the "civilized" countries like a hurricane, and leaving a trail of disease and disaster. The only remedy Puritanism offers for this ill-begotten child is greater repression and more merciless persecution."

"She whom Luke calls the sinful woman, whom John calls Mary, we believe to be the Mary from whom seven devils were ejected according to Mark. What did these seven devils signify, if not all the vices? [...] It is clear, that the woman previously used the unguent to perfume her flesh in forbidden acts. What she therefore displayed more scandalously, she was now offering to God in a more praiseworthy manner. She had coveted with earthly eyes, but now through penitence these are consumed with tears. She displayed her hair to set off her face, but now her hair dries her tears. She had spoken proud things with her mouth, but in kissing the Lord’s feet, she now planted her mouth on the Redeemer’s feet. For every delight, therefore, she had had in herself, she now immolated herself. She turned the mass of her crimes to virtues, in order to serve God entirely in penance."

"The foulest Babylonian custom is that which compels every woman of the land to sit in the temple of Aphrodite and have intercourse with some stranger at least once in her life. Many women who are rich and proud and disdain to mingle with the rest, drive to the temple in covered carriages drawn by teams, and stand there with a great retinue of attendants. But most sit down in the sacred plot of Aphrodite, with crowns of cord on their heads; there is a great multitude of women coming and going; passages marked by line run every way through the crowd, by which the men pass and make their choice. Once a woman has taken her place there, she does not go away to her home before some stranger has cast money into her lap, and had intercourse with her outside the temple; but while he casts the money, he must say, “I invite you in the name of Mylitta” (that is the Assyrian name for Aphrodite). It does not matter what sum the money is; the woman will never refuse, for that would be a sin, the money being by this act made sacred. So she follows the first man who casts it and rejects no one. After their intercourse, having discharged her sacred duty to the goddess, she goes away to her home; and thereafter there is no bribe however great that will get her. So then the women that are fair and tall are soon free to depart, but the uncomely have long to wait because they cannot fulfil the law; for some of them remain for three years, or four. There is a custom like this in some parts of Cyprus."

"I think it proves that if my business could be made legal, the way off-track betting is in New York, I and women like me could make a big contribution to what Mayor John Lindsay calls Fun City, and the city and state could derive the money in taxes and licensing fees that I pay off to crooked cops and political figures."

"Do you understand, gentlemen, that all the horror is in just this—that there is no horror!"

"Prostitution is not a monolith. The newspapers use the plight of the most vulnerable women to symbolize the entire field, ignoring the diversity of the sex-worker community."

"Do not prostitute thy daughter, to cause her to be a whore; lest the land fall to whoredom, and the land become full of wickedness."

"Who are prostitutes? Ideas seem to lurch between contradictory stereotypes, perhaps unsurprisingly for a group more often spoken about than to. Much as immigrants are seen as lazy scroungers while somehow also stealing the jobs of "decent people", sex workers are simultaneously victim and accomplice, sexually voracious yet helpless maidens."

"Sex workers -- not journalists, politicians, or the police -- are the experts on sex work. We bring our experiences of criminalisation, rape, assault, intimate partner abuse, abortion, mental illness, drug use and epistemic violence with us in our organising and our writing. We bring the knowledge we have developed through our deep immersion in sex worker organising spaces - spaces of mutual aid, spaces that are working towards collective liberation."

"It is very difficult to prevent anyone from selling sex through criminal law. Criminalisation can make it more dangerous, but there is little the state can do to physically curtail a person's capacity to sell or trade sex. Thus, prostitution is an abiding strategy for survival for those who have nothing - no training, qualifications, or equipment. There are almost no prerequisites for heading out to the streets and waiting for a client. Survival sex work may be dangerous, cold, and frightening- but for people whose other options are worse (hunger, homelessness, drug withdrawal) it's there as a last resort: the "safety net" onto which almost any destitute person can fall. This explains the indomitable resilience of sex work."

"Criminalising the prostitute is rooted in disgust and hatred - entangled with misogyny, racism, and fear of the visibly queer or diseased body. These coalesce into the belief that the prostitute is a threat who must be warded off through punishment."

"Criminalising sex work isn't working. At its core, exchanging sex for money - like migrancy, drug use, and abortion - is a legitimate and pragmatic human response to specific needs. Prohibiting it produces evasiveness and risk-taking among sex workers, driving them into the margins and exposing them to even more harm."

"Prostitution remained a major topic of social concern. The early, time-honoured view that, like the poor, prostitutes were a fact of life was replaced in the 1840s by a social morality that anathematised sexual licence and especially its public manifestations. Gathering intensity as the urban population rose, and with it the 'circulating harlotry' in the streets, theatres and pleasure gardens, moral panic over prostitution was at its height in the 1850s and early 1860s. In part, this was because it betokened visible female freedom from social control. As daughters, employees or servants, young women were subject to male authority; as whores they enjoyed economic and personal independence. The response was a sustained cultural campaign, in sermons, newspapers, literary and visual art, to intimidate, shame and eventually drive 'fallen women' from the streets by representing them as a depraved and dangerous element in society, doomed to disease and death. Refuges were opened and men like future Prime Minister W. E. Gladstone patrolled at night to persuade girls to leave their life of 'vice'. In actuality, the seldom-voiced truth was that in comparison to other occupations, prostitution was a leisured and profitable trade, by which women improved their circumstances, helped to educate siblings and often saved enough to open a shop or lodging house."

"Prostitution has little to do with morality, and everything to do with poverty."

"What I am saying is that truth is usually more complicated than any one perspective can capture. Prostitution is not a monolith. Each woman experiences the profession in a different manner. And nothing can be gained by having different groups of feminists or prostitutes — all of whom are probably telling the truth of their own experiences — attempting to discredit each other."

"And all married women except those whom your right hands possess. It is a decree of Allah for you. Lawful to you are all beyond those mentioned, so that you may seek them with your wealth in honest wedlock, not debauchery. And those whom you enjoy, give them their shares as a duty. And there is no sin for you in what you do by mutual agreement after the duty. Indeed, Allah is ever-knower, wise."

"A prostitute was forgiven by Allah, because, passing by a panting dog near a well and seeing that the dog was about to die of thirst, she took off her shoe, and tying it with her head-cover she drew out some water for it. So, Allah forgave her because of that."

"The only way to prevent prostitution altogether would be to imprison one half of the human race."

"I saw a woman sit upon a scarlet coloured beast, full of names of blasphemy, having seven heads and ten horns.And the woman was arrayed in purple and scarlet colour, and decked with gold and precious stones and pearls, having a golden cup in her hand full of abominations and filthiness of her fornication:And upon her forehead was a name written, Mystery, Babylon the Great, the Mother of Harlots and Abominations of the Earth."

"Unless hours were cups of sack, and minutes capons, and clocks the tongues of bawds, and dials the signs of leaping-houses, and the blessed sun himself a fair hot wench in flame-coloured taffeta, I see no reason why thou shouldst be so superfluous to demand the time of the day."

"You a captain? You slave, for what? For tearing a poor whore’s ruff in a bawdy-house?"

"We cannot lodge and board a dozen or fourteen gentlewomen that live honestly by the prick of their needles, but it will be thought we keep a bawdy house straight."

"Thou rascal beadle, hold thy bloody hand! Why dost thou lash that whore? Strip thine own back; Thou hotly lusts to use her in that kind For which thou whipp’st her."

"This house, if it be not a bawd’s house, it is pity of her life, for it is a naughty house."

"Ever your fresh whore and your powdered bawd."

"Come, I am for no more bawdy houses: shall’s go hear the vestals sing?"

"The Iceberg Slim story revolves around a sex worker at the natural end of her career, and her pimp, who goes to great lengths to force her, his best earner, into further years of indentured servitude. He stages a death and pins the blame on her, the guilt and shame breaking her spirit. Only her pimp can offer her salvation, and the only way to repay that debt is to keep working."

"Vice flourished luxuriantly during the heyday of our ‘flush times.’ The Saloons were overburdened with custom; so were the police courts, the gambling dens, the brothels and the jails-unfailing signs of prosperity in a mining region-in any region for that matter.” Why did women seek out the sporting life? Many had been abused or abandoned as children and could not maintain stable relationships, but some women simply wanted a gayer, more exciting life than being a farm wife and mother or being married to the factory floor back east."

"When we see a woman bartering beauty for gold, we look upon such a one as no other than a common prostitute; but she who rewards the passion of some worthy youth with it, gains at the same time our approbation and esteem. It is the very same with philosophy: he who sets it forth for public sale, to be disposed of to the highest bidder, is a sophist, a public prostitute."

"Prostitution does injury to the dignity of the person who engages in it, reducing the person to an instrument of sexual pleasure. The one who pays sins gravely against himself: he violates the chastity to which his Baptism pledged him and defiles his body, the temple of the Holy Spirit. Prostitution is a social scourge. It usually involves women, but also men, children, and adolescents (The latter two cases involve the added sin of scandal.). While it is always gravely sinful to engage in prostitution, the imputability of the offense can be attenuated by destitution, blackmail, or social pressure."

"The criminalization of sex work makes sex workers more vulnerable to violence on the job and less likely to report violence. It prevents sex workers from accessing health care and other critical services, feeds an out of control mass incarceration system, and further marginalizes some of society’s most vulnerable groups, such as trans women of color and immigrants. Sex workers deserve the same legal protections as anybody else. They should be able to maintain their livelihood without fear of violence or arrest, access health care and other services without discrimination, and seek justice when they are harmed. Decriminalization would help bring sex workers out of the dangerous margins and into the light where people are protected — not targeted — by the law."

"Police abuse against sex workers is common, but police rarely face consequences for it. That’s partly because sex workers fear being arrested if they come forward to report abuse. Police also take advantage of criminalization by extorting sex workers or coercing them into sexual acts, threatening arrest if they don’t comply. Criminalizing sex work only helps police abuse their power — and get away with it. Decriminalizing sex work would remove the fear of arrest that too often prevents sex workers from seeking justice."

"[In Kenya] any woman who is single and has multiple male sex partners is considered to be a prostitute, whether or not money changes hands."

"[In India] any sexual intercourse outside socially acceptable unions is likely to be regarded as prostitution."

"[In Iran] Under mut'a, it is possible to be 'married' for as little as half an hour."

"Egyptian law states that a man who is caught with a prostitute is not imprisoned; instead, his testimony is used to convict and imprison the prostitute."

"Advertising is an important characteristic of modern capitalism and a contributory factor in the establishment and maintenance of monopoly positions."

"The best of all monopoly profits is a quiet life."

"Ironically, contrary to the consensus of historians, it was not the existence of monopoly which caused the federal government to intervene in the economy, but the lack of it."

"Local economic independence cannot be preserved in the face of consolidations such as we have had during the past few years. The control of American business is steadily being transferred, I am sorry to have to say, from local communities to a few large cities in which central managers decide the policies and the fate of the far-flung enterprises they control. Millions of people depend helplessly on their judgment. Through monopolistic mergers the people are losing power to direct their own economic welfare. When they lose the power to direct their economic welfare, they also lose the means to direct their political future."

"Monopoly is business at the end of its journey."

"The methods by which the Vanderbilts, Goulds, Fields, Rockefellers, Mackays, Floods, O'Briens, and the coal and iron and salt Pashas are heaping up enormous fortunes are methods, not of creation of wealth, but of the redistribution of the wealth of the masses into the pockets of monopolists."

"The most obvious negative feature of capitalism is that it can produce private monopolies that restrict output and thereby harm consumers."

"Mr. Wilson says of the trust plank in that platform that it "did not anywhere condemn monopoly except in words." Exactly of what else could a platform consist? Does Mr. Wilson expect us to use algebraic signs? This criticism is much as if he said the Constitution or the Declaration of Independence contained nothing but words."

"A cartel or trust confers various benefits on the entrepreneur - a saving in costs, a stronger position as against the workers - but none of these compares with this one advantage: a monopolistic price policy, possible to any considerable degree only behind an adequate protective tariff. Now the price that brings the maximum monopoly profit is generally far above the price that would be fixed by fluctuating competitive costs, and the volume that can be marketed at that maximum price is generally far below the output that would be technically and economically feasible. [...] Yet the trust must produce it - or approximately as much - otherwise the advantages of large-scale enterprise remain unexploited and unit costs are likely to be uneconomically high. [...] [The trust] extricates itself from this dilemma by producing the full output that is economically feasible, thus securing low costs, and offering in the protected domestic market only the quantity corresponding to the monopoly price - insofar as the tariff permits; while the rest is sold, or "dumped," abroad at a lower price."

"[...] the lies that people tell [...] the people who have monopolies pretend not to. [...] you don't want to get regulated by the government [...] So if the monopolists pretend not to have monopolies, the non-monopolists pretend to have monopolies. [...] If you are a non-monopolist, you will rhetorically describe your market as super-small [...] you are the only person in that market."

"All the perplexities, confusions, and distresses in America arise, not from defects in their constitution or confederation, not from a want of honor or virtue, so much as from downright ignorance of the nature of coin, credit, and circulation."

"It is wonderful how much good a man may do in this world if he does not care who gets the credit of it."

"When a banker, in addition to his other functions, is also an issuer of paper money, he gains an advantage (...) the banker by issuing it levies a tax on every person who has money in his hands or due to him. He thus appropriates to himself a portion of the capital of other people, and a portion of their revenue."

"Propositions prey upon and are grounded upon one another just like living forms. They support one another as plants and animals do; they are based ultimately on credit, or faith, rather than the cash of irrefragable conviction. The whole universe is carried on on the credit system, and if the mutual confidence on which it is based were to collapse, it must itself collapse immediately. Just or unjust, it lives by faith; it is based on vague and impalpable opinion that by some inscrutable process passes into will and action, and is made manifest in matter and in flesh; it is meteoric - suspended in mid-air; it is the baseless fabric of a vision to vast, so vivid, and so gorgeous that no base can seem more broad than such stupendous baselessness, and yet any man can bring it about his ears by being over-curious; when faith fails, a system based on faith fails also."

"The only road, the sure road—to unquestioned credit and a sound financial condition is the exact and punctual fulfilment of every pecuniary obligation, public and private, according to its letter and spirit."

"The use of money does not disestablish the normal process of creating credit. Money, it is true, is always being paid into the banks by the retailers and others who receive it in the course of business, and they of course receive bank credits in return for the money thus deposited. But for the manufacturers and others who have to pay money out, credits are still created by the exchange of obligations, the banker's immediate obligation being given to his customer in exchange for the customer's obligation to repay at a future date. We shall still describe this dual operation as the creation of credit. By its means the banker creates the means of payment out of nothing, whereas when he receives a bag of money from his customer, one means of payment, a bank credit, is merely substituted for another, an equal amount of cash."

"Let me remind you that credit is the lifeblood of business, the lifeblood of prices and jobs."

"The maxim of buying nothing without the money in our pocket to pay for it, would make of our country one of the happiest upon earth. Experience during the war proved this; as I think every man will remember that under all the privations it obliged him to submit to during that period he slept sounder, and awaked happier than he can do now. Desperate of finding relief from a free course of justice, I look forward to the abolition of all credit as the only other remedy which can take place."

"Private credit is wealth; public honor is security; the feather that adorns the royal bird supports its flight; strip him of his plumage, and you fix him to the earth."

"Within the credit relationship, it is not the case that money is transcended in man, but that man himself is turned into money, or money is incorporated in him. Human individuality, human morality itself, has become both an object of commerce and the material in which money exists. Instead of money, or paper, it is my own personal existence, my flesh and blood, my social virtue and importance, which constitutes the material, corporeal form of the spirit of money."

"If the Nation is living within its income, its credit is good. If, in some crises, it lives beyond its income for a year or two, it can usually borrow temporarily at reasonable rates. But if, like a spendthrift, it throws discretion to the winds, and is willing to make no sacrifice at all in spending; if it extends its taxing to the limit of the people's power to pay and continues to pile up deficits, then it is on the road to bankruptcy."

"Credit is like a looking-glass, which, when only sullied by an unwholesome breath, may be wiped clean again; but if once it is cracked, it is never to be repaired."

"Credit is the vital air of the system of modern commerce. It has done more, a thousand times, to enrich nations, than all the mines of all the world. It has excited labor, stimulated manufactures, pushed commerce over every sea, and brought every nation, every kingdom, and every small tribe, among the races of men, to be known to all the rest. It has raised armies, equipped navies, and, triumphing over the gross power of mere numbers, it has established national superiority on the foundation of intelligence, wealth, and well-directed industry. Credit is to money what money is to articles of merchandise. As hard money represents property, so credit represents hard money; and it is capable of supplying the place of money so completely, that there are writers of distinction, especially of the Scotch school, who insist that no hard money is necessary for the interests of commerce. I am not of that opinion. I do not think any government can maintain an exclusive paper system, without running to excess, and thereby causing depreciation."

"He smote the rock of the national resources, and abundant streams of revenue gushed forth. He touched the dead corpse of Public Credit, and it sprung upon its feet."

"A great industrial nation is controlled by its system of credit. Our system of credit is privately concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men who, even if their action be honest and intended for the public interest, are necessarily concentrated upon the great undertakings in which their own money is involved and who necessarily, by very reason of their own limitations, chill and check and destroy genuine economic freedom. This is the greatest question of all, and to this statesmen must address themselves with an earnest determination to serve the long future and the true liberties of men."

"Where is Christ, the King? In heaven, to be sure. Thither it behooves you, soldier of Christ, to direct your course. Forget all earthly delights. A soldier does not build a house; he does not aspire to possession of lands; he does not concern himself with devious, coin-purveying trade. … The soldier enjoys a sustenance provided by the king; he need not furnish his own, nor vex himself in this regard."

"COMMERCE, n. A kind of transaction in which A plunders from B the goods of C, and for compensation B picks the pocket of D of money belonging to E."

"Economists have, in fact, devoted a lot of effort to documenting how international differences in economic conditions change as national governments lower the barriers that limit trade across countries. Much of international trade theory attempts to imagine what happens when countries allow unrestricted flows of goods and capital across national boundaries. One common theme in these models, which has greatly influenced economic policy, is that the removal of restrictions on such flows increases global income and tends to equalize prices and wages across countries. Decades of experience with various trade liberalization policies, however, do not seem to have had as much of an impact on global income or on international wage inequality as the proponents of free trade would have expected."

"The ascetic Gotama … avoids watching dancing, singing, music and shows. He abstains from using garlands, perfumes, cosmetics, ornaments and adornments. … He refrains from running errands, from buying and selling."

"The history of capitalism has been so totally re-written that many people in the rich world do not perceive the historical double standards involved in recommending free trade and free market to developing countries."

"Britain and the US are not the homes of free trade; in fact, for a long time they were the most protectionist countries in the world. Not all countries have succeeded through protection and subsidies, but few have done so without them. For developing countries, free trade has a rarely been a matter of choice; it was often an imposition from outside, sometimes even through military power. Most of them did very poorly under free trade; they did much better when they used protection and subsidies. The best-performing economies have been those that opened up their economies selectively and gradually. Neo-liberal free-trade free-market policy claims to sacrifice equity for growth, but in fact it achieves neither; growth has slowed down in the past two and a half decades when markets were freed and borders opened."

"The importance of international trade for economic development cannot be overemphasized. But free trade is not the best path to economic development. Trade helps economic development only when the country employs a mixture of protection and open trade, constantly adjusting it according to its changing needs and capabilities. Trade is simply too important for economic development to be left to free trade economists."

"Our wants are various, and nobody has been found able to acquire even the necessaries without the aid of other people, and there is scarcely any Nation that has not stood in need of others. The Almighty himself has made our race such that we should help one another. Should this mutual aid be checked within or without the Nation, it is contrary to Nature."

"Trade is the mother of money."

"Commerce is of trivial import; love, faith, truth of character, the aspiration of man, these are sacred."

"The first place he went into was the Royal Exchange, .... where men of all ages and all nations were assembled, with no other view than to barter for interest. ... David ... resolved to stay no longer in a place where riches were esteemed goodness, and deceit, low cunning, and giving up all things to the love of gain were thought wisdom."

"Wisdom, virtue, morality, all these have fallen out of fashion: everybody worships at the shrine of commerce."

"Where wealth and freedom reign contentment fails, And honour sinks where commerce long prevails."

"The selfish spirit of commerce knows no country, and feels no passion or principle but that of gain."

"The spirit of trade cannot coexist with war, and sooner or later this spirit dominates every people. For among all those powers (or means) that belong to a nation, financial power may be the most reliable in forcing nations to pursue the noble cause of peace (though not from moral motives); and wherever in the world war threatens to break out, they will try to head it off through mediation, just as if they were permanently leagued for this purpose."

"The product of that city, now Far distant lands consume; The Indian wears around his brow The white webs of her loom. Her vessels sweep from East to West ; Her merchants are like kings ; While wonders in her walls attest The power that commerce brings."

"Countries as well as families benefit from the ability to trade with one another. Trade allows countries to specialize in what they do best and to enjoy a greater variety of goods and services. The Japanese, as well as the French and the Egyptians and the Brazilians, are as much our partners in the world economy as they are our competitors."

"It is commerce which is rapidly rendering war obsolete, by strengthening and multiplying the personal interests which are in natural opposition to it. And it may be said without exaggeration that the great extent and rapid increase of international trade, in being the principal guarantee of the peace of the world, is the great permanent security for the uninterrupted progress of the ideas, the institutions, and the character of the human race."

"Commerce is a cure for the most destructive prejudices; for it is almost a general rule that wherever manners are gentle there is commerce; and wherever there is commerce, manners are gentle. Let us not be astonished, then, if our manners are now less savage than formerly. Commerce has everywhere diffused a knowledge of the manners of all nations: these are compared one with another, and from this comparison arise the greatest advantages."

"[Commerce] is a pacific system, operating to cordialise mankind, by rendering Nations, as well as individuals, useful to each other … The invention of commerce … is the greatest approach toward universal civilization that has yet been made by any means not immediately flowing from moral principles."

"One of the common means by which one nation exploits another and one that is relevant to Africa’s external relations is exploitation through trade. When the terms of trade are set by one country in a manner entirely advantageous to itself, then the trade is usually detrimental to the trading partner. To be specific, one can take the export of agricultural produce from Africa and the import of manufactured goods into Africa from Europe, North America, and Japan. The big nations establish the price of the agricultural products and subject these prices to frequent reductions. At the same time the price of manufactured goods is also set by them, along with the s necessary for trade in the ships of those nations. The minerals of Africa also fall into the same category as agricultural produce as far as pricing is concerned. The whole import-export relationship between Africa and its trading partners is one of unequal exchange and of exploitation."

"What was called was nothing but the extension overseas of European interests. The strategy behind international trade and the production that supported it was firmly in European hands, and specifically in the hands of the sea-going nations from the North Sea to the Mediterranean. They owned and directed the great majority of the world’s sea-going vessels, and they controlled the financing of the trade between four continents. Africans had little clue as to the tri-continental links between Africa, Europe, and the Americas. Europe had a monopoly of knowledge about the international exchange system seen as a whole, for was the only sector capable of viewing the system as a whole. Europeans used the superiority of their ships and cannon to gain control of all the world’s waterways, starting with the western Mediterranean and the Atlantic coast of North Africa. [...] Therefore, by control of the seas, Europe took the first steps towards transforming the several parts of Africa and Asia into economic satellites."

"Considerable evidence supports the argument that trading state globalization has emerged as a global norm and as a widely accepted basis of state grand strategy since World War II. Since the 1940s, successive rounds of the GATT (now the TWO) have resulted in consistently lower tariff rates that have helped stimulate world trade. From 1980 to 1998, the rate of growth in world trade ranged from 4.2% to 10.3%, and from 1990 to 1999 it grew at over three times the rate of global output (World Bank 1998; World Trade Organization 2000). Moreover, financial transactions, once and adjust of trade, have grown even faster and now tower over trade flows by a ratio of 50:1."

"Specialization and trade are the key to high living standards. By specializing, people can become highly productive in a very narrow field of expertise. People can then trade their specialized goods for others’ products, vastly increasing the range and quality of consumption and having the potential to raise everyone’s living standards."

"Let me have no lying; it becomes none but tradesmen."

"Hence commerce springs, the venal interchange Of all that human art or Nature yield; Which wealth should purchase not, but want demand, And natural kindness hasten to supply From the full fountain of its boundless love, Forever stifled, drained and tainted now. Commerce! beneath whose poison-breathing shade No solitary virtue dares to spring."

"Every individual necessarily labors to render the annual revenue of the society as great as he can. He generally indeed neither intends to promote the public interest, nor knows how much he is promoting it. He intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it. I have never known much good done by those who affected to trade for the public good."

"Free trade may have wide support among economists, but its support among the public at large is considerably less."

"If a state should pass laws forbidding its citizens to become wise and holy, it would be made a byword for all time. But this, in effect, is what our commercial, social, and political systems do. They compel the sacrifice of mental and moral power to money and dissipation."

"The more a religion is aware of its opposition in principle to economic rationalization as such, the more apt are the religion’s virtuosi to reject the world, especially its economic activities."

"The wide chasm separating the inevitabilities of economic life from the Christian ideal ... kept the most devout groups and all those with the most consistently developed ethics far from the life of trade."

"Empirical evidence tends to show that trade liberalisation may entail non-trivial adjustment costs for certain groups."

"This being an island, all imaginable encouragement ought to be given to trade."

"The great source of the flourishing state of this kingdom is its trade and commerce."

"The freedom of trade, like the liberty of the Press, is one thing; the abuse of that freedom, like the licentiousness of the Press, is another. God forbid that this Court should do anything that should interfere with the legal freedom of trade."

"It is essential, when persons in trade come into this Court, that they should remember that the administration of equity is founded on perfect truth, and that if persons attempt to mislead the public by stating that which is not true, this Court will restrain them upon a clear case being made out against them."

"Some confidence there must be between merchant and manufacturer. In matters exclusively within the province of the manufacturer the merchant relies on the manufacturer's skill, and he does so all the more readily when he has had the benefit of that skill before."

"An energetic tradesman naturally develops and extends his business. One business runs into another, and the line of demarcation is often indistinct and undefined. The linen draper of to-day in the course of a few years may come to be the proprietor of an establishment providing everything that man wants, or woman either, from the cradle to the grave."

"The English trader is generally too much occupied with his business to devote much time to the invention of new or fancy words, and he is not always gifted with that degree of fancy which is capable of coining new words. Besides the English public is not so ready, apparently, to buy articles passing under an entirely new name, which may give rise to a suspicion of adulteration."

"Chitty, J., In re Trade-Mark "Alpine" (1885), L. R. 29 C. D. 880."

"The word commission sounds sweet in a merchant's ear."

"What is one man's gain is another's loss."

"It must be remembered that all trade is and must be in a sense selfish; trade not being infinite, nay, the trade of a particular place or district being possibly very limited, what one man gains another loses. In the hand to hand war of commerce, as in the conflicts of public life, whether at the bar, in Parliament, in medicine, in engineering (I give examples only), men fight on without much thought of others, except a desire to excel or to defeat them. Very lofty minds, like Sir Philip Sidney with his cup of water, will not stoop to take an advantage, if they think another wants it more. Our age, in spite of high authority to the contrary, is not without its Sir Philip Sidneys; but these are counsels of perfection which it would be silly indeed to make the measure of the rough business of the world as pursued by ordinary men of business. The line is in words difficult to draw. . . ."

"Merchants know perfectly well what they mean when they express themselves, not in the language of lawyers, but in the language of courteous mercantile communication."

"The experience we have in Courts of justice leads us to know that persons who trade without due caution often find their hopes deceived: they find in the result that they have parted with goods for which they never can obtain the money."

"It is when merchants dispute about their own rules that they invoke the law."

"The great object of the law is to encourage commerce."

"It is admitted that there may be fair competition in trade, that two may offer to join and compete against a third. If so, what is the definition of fair competition? What is unfair that is neither forcible nor fraudulent."

"I should regret to find that the law was powerless to enforce the most elementary principles of commercial morality."

"A trader is trusted upon his character and visible commerce: that credit enables him to acquire wealth. If by secret liens a few might swallow up all, it would greatly damp that credit."

"Men lend their money to traders upon mortgages or consignments of goods, because they suspect their circumstances, and will not run the risque of their general credit."

"It is the privilege of a trader in a free country, in all matters not contrary to law, to regulate his own mode of carrying it on according to his own discretion and choice."

"Arbitrio domini res cestimari debet: The price of a thing ought to be fixed by its owner."

"The law merchant is a system of equity, founded on the rules of equity, and governed in all its parts by plain justice and good faith."

"There are many situations in life, and particularly in the commercial world, where a man cannot by any diligence inform himself of the degree of credit which ought to be given to the persons with whom he deals; in which cases he must apply to those whose sources of intelligence enable them to give that information. The law of prudence leads him to apply to them, and the law of morality ought to induce them to give the information required."

"An universal custom is a law, and I know no distinction between lex mercatoria and consuetudo mercaborum."

"Convenience is the basis of mercantile law."

"When a general usage has been judicially ascertained and established, it becomes a part of the law merchant, which Courts of justice are bound to know and recognise."

"Nothing can fall within the custom of trade but what concerns trade."

"The law merchant respects the religion of different people."

"Persons in trade had better be very cautious how they add a fictitious name to their firm, for the purpose of gaining credit."

"A proceeding may be perfectly legal and may yet be opposed to sound commercial principles."

"It has been uniformly laid down in this Court, as far back as we can remember, that good faith is the basis of all mercantile transactions."

"Prudent business men in their dealings incur risk."

"Most businesses require liberal dealing."

"I have always thought it highly injurious to the public that different rules should prevail in the different Courts on the same mercantile case. My opinion has been uniform on that subject. It sometimes indeed happens that in questions of real property Courts of law find themselves fettered with rules, from which they cannot depart, because they are fixed and established rules1; though equity may interpose, not to contradict, but to correct, the strict and rigid rules of law. But in mercantile questions no distinction ought to prevail. The mercantile law of this country is founded on principles of equity; and when once a rule is established in that Court as a rule of property, it ought to be adopted in a Court of law. For this reason Courts of law of late years have said that, even where the action is founded on a tort, they would discover some mode of defeating the plaintiff, unless his action were also founded on equity; and that though the property might on legal grounds be with the plaintiff, if there were any claim or charge by the defendant, they would not consider the retaining of the goods as a conversion."

"Paper currency, guarded by proper regulations and restrictions, is the life of commerce."

"Whether a transaction be fair or fraudulent is often a question of law: it is the judgment of law upon facts and intents."

"I bought an unction of a mountebank, So mortal that, but dip a knife in it, Where it draws blood no cataplasm so rare, Collected from all simples that have virtue Under the moon, can save the thing from death That is but scratch'd withal."

"So long as the body is affected through the mind, no audacious device, even of the most manifestly dishonest character, can fail of producing occasional good to those who yield it an implicit or even a partial faith. The argument founded on this occasional good would be as applicable in justifying the counterfeiter and giving circulation to his base coin, on the ground that a spurious dollar had often relieved a poor man's necessities."

"But however mysterious is nature, however ignorant the doctor, however imperfect the present state of physical science, the patronage and the success of quacks and quackeries are infinitely more wonderful than those of honest and laborious men of science and their careful experiments."

"Void of all honor, avaricious, rash, The daring tribe compound their boasted trash— Tincture of syrup, lotion, drop, or pill; All tempt the sick to trust the lying bill."

"From powerful causes spring the empiric's gains, Man's love of life, his weakness, and his pains; These first induce him the vile trash to try, Then lend his name, that other men may buy."

"Out, you impostors! Quack salving, cheating mountebanks! your skill Is to make sound men sick, and sick men kill."

"This planet has — or rather had — a problem, which was this: most of the people living on it were unhappy for pretty much of the time. Many solutions were suggested for this problem, but most of these were largely concerned with the movement of small green pieces of paper, which was odd because on the whole it wasn't the small green pieces of paper that were unhappy."

"All the perplexities, confusions, and distresses in America arise, not from defects in their constitution or confederation, nor from want of honor or virtue, as much from downright ignorance of the nature of coin, credit, and circulation."

"Money, now this has to be some good shit."

"The usual definition of the functions of money are that money is a medium of exchange, a measure of value, a standard of deferred payment and a store of value."

"If you make money your god, it will plague you like the devil."

"Plato said that virtue has no master. If a person does not honor this principle and rejoice in it, but is purchasable for money, he creates many masters for himself."

"Money makes the man."

"Money was intended to be used in exchange, but not to increase at interest. And this term interest, which means the birth of money from money, is applied to the breeding of money because the offspring resembles the parent. Wherefore of all modes of getting wealth this is the most unnatural."

"If the love of money is the root of all evil, the need of money is most certainly the root of all despair."

"Divitiæ bona ancilla, pessima domina."

"L'argent est un bon serviteur, mais un méchant maître."

"Money is like muck (manure), not good except it be spread."

""The love of money is the root of all evil". This throws us back on the fundamental weakness of humanity - the quality of desire. Of this money is the result and the symbol... Desire demands the satisfaction of sensed need, the desire for goods and possessions, the desire for material comfort, for the acquisition and accumulation of things... This desire controls and dominates human thinking; it is the keynote of our modern civilisation; it is also the octopus which is slowly strangling human life, enterprise, and decency; it is the millstone around the neck of mankind... There are, however, large numbers of people whose lives are not dominated by the love of money, and who can normally think in terms of the higher values. They are the hope of the future but are individually imprisoned in the system which, spiritually, must end. Though they do not love money, they need it, and must have it; the tentacles of the business world surround them; they too must work and earn the wherewithal to live; the work they seek to do to aid humanity, cannot be done without the required funds."

"Just as money has been in the past the instrument of men's selfishness, now it must be the instrument of their goodwill. (5 - 166)."

"I look at Paris Hilton, think about her parents' fortune and her grandparents' fortune. She thought she had it all together. A whole lot of people think that, that when you got money you can do anything you want to do. But I want to tell you there are some things money can't do for you; Money can buy you a house, but can't buy you a home; Money can buy you food to put on your table, but can't buy an appetite; Money can buy you one of the most finest matresses in the world, but can't buy you sleep."

"Money, it turned out, was exactly like sex. You thought of nothing else if you didn't have it and thought of other things if you did."

"One of the wisest things anybody ever said to me was that if all you ever care about is money, money is all that will ever care for you."

"If you would know what the Lord God thinks of money, you have only to look at those to whom He gives it."

"Money is the devil's dung."

"If money is, as it is often posited, the root of all evil, then where does that leave greed? Let's do the math: Greed takes up most of your time and most of your money, so therefore greed = time x money. And, as we all know, time = money. Ergo, greed = money x money. So, if money is the square root of all evil, then we are forced to conclude that greed is evil as well, perhaps even more so, in that it forced us to do math. But when does the desire to simply possess something turn into unchecked greed? That's easy: when the things that you possess start possessing you."

"Money is the currency of the world, but it rarely is our currency."

"Money should buy you one thing only and that is freedom."

"The sinews of business (or state)."

"A lot of money goes to money-heaven."

"The accuser of sins by my side doth stand, And he holds my money bag in his hand; For my worldly things God makes him pay; And he'd pay for more, if to him I would pray."

"We could never imagine what a strange disproportion a few or a great many pieces of money make between men, if we did not see it every day with our own eyes."

"And who can suffer injury by just taxation, impartial laws and the application of the Jeffersonian doctrine of equal rights to all and special privileges to none? Only those whose accumulations are stained with dishonesty and whose immoral methods have given them a distorted view of business, society and government. Accumulating by conscious frauds more money than they can use upon themselves, wisely distribute or safely leave to their children, these denounce as public enemies all who question their methods or throw a light upon their crimes."

"Money well managed deserves, indeed, the apotheosis to which she was raised by her Latin adorers; she is Diva Moneta — a goddess."

"The greediness of gain is the only principle on which a stranger can be induced to furnish a stranger."

"Money is the source of the greatest vice, and that nation which is most rich, is most wicked."

"Penny wise, pound foolish."

"Mr. Butler urged the same idea: adding that money was power; and that the States ought to have weight in the government in proportion to their wealth."

"Still amorous, and fond, and billing, Like Philip and Mary on a shilling."

"Money…is the symbol of duty, it is the sacrament of having done for mankind that which mankind wanted. Mankind may not be a very good judge, but there is no better."

"How beauteous are rouleaus! how charming chests Containing ingots, bags of dollars, coins (Not of old victors, all whose heads and crests Weigh not the thin ore where their visage shines, But) of fine unclipt gold, where dully rests Some likeness, which the glittering cirque confines, Of modern, reigning, sterling, stupid stamp;— Yes! ready money is Aladdin's lamp."

"A man wants to earn money in order to be happy, and his whole effort and the best of a life are devoted to the earning of that money. Happiness is forgotten; the means are taken for the end."

"It's a kind of spiritual snobbery that makes people think they can be happy without money."

"Money, which is of very uncertain value, and sometimes has no value at all and even less."

"THIS IS YOUR GOD"

"Covetousness ... chooses to love and care for images stamped on gold instead of God."

"We must not only guard against the possession of money, but also must expel from our souls the desire for it. For we should not so much avoid the results of covetousness, as cut off by the roots all disposition towards it. For it will do no good not to possess money, if there exists in us the desire for getting it."

"It is possible that those who are in no way pressed down with the weight of money may be condemned with the covetous in disposition and intent. For it was the opportunity of possessing which was wanting in their case, and not the will for it."

"If money is all that a man makes, then he will be poor — poor in happiness, poor in all that makes life worth living."

"Capitalism is using its money; we socialists throw it away."

"Make ducks and drakes with shillings."

"Despising money is like toppling a king off his throne."

"L’intérêt d’argent est la grande épreuve des petits caractères, mais ce n’est encore que la plus petite pour les caractères distingués."

"Money is a symbol of what others in your society owe you, or your claim on particular amounts of the society's resources."

"The way to resumption is to resume."

"To be clever enough to get all that money, one must be stupid enough to want it."

"The purified righteous man has become a coin of the Lord, and has the impress of his King stamped upon him."

"I knew once a very covetous, sordid fellow who used to say, "Take care of the pence, for the pounds will take care of themselves.""

"Where large sums of money are concerned, it is advisable to trust nobody."

"Endless money forms the sinews of war"

"I never heard of an old man forgetting where he had buried his money. Old people remember what interests them: the dates fixed for their lawsuits, and the names of their debtors and creditors."

"So pleasant it is to have money, heigh-ho! So pleasant it is to have money."

"As I sat at the Café I said to myself, They may talk as they please about what they call pelf, They may sneer as they like about eating and drinking, But help it I cannot, I cannot help thinking How pleasant it is to have money, heigh-ho! How pleasant it is to have money!"

"To cure us of our immoderate love of gain, we should seriously consider how many goods there are that money will not purchase, and these the best; and how many evils there are that money will not remedy, and these the worst."

"No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility."

"To make money honestly is to preach the gospel."

"Love is the grandest thing on God's earth, but fortunate the lover who has plenty of money."

"Money was made, not to command our will, But all our lawful pleasures to fulfil. Shame and woe to us, if we our wealth obey; The horse doth with the horseman run away."

"To virgin minds, which yet their native whiteness hold, Not yet discoloured with the love of gold (That jaundice of the soul, Which makes it look so gilded and so foul) ..."

"Stamps God's own name upon a lie just made, To turn a penny in the way of trade."

"I have never seen more senators express discontent with their jobs. … I think the major cause is that, deep down in our hearts, we have been accomplices to doing something terrible and unforgivable to this wonderful country. Deep down in our hearts, we know that we have bankrupted America and that we have given our children a legacy of bankruptcy. .. We have defrauded our country to get ourselves elected."

"The lands and houses, the goods and merchandise and the money of the world are owned by a very few. All the rest in some way serve that few for so much as the law of life and trade permit them to exact."

"The sinews of affairs are cut."

"The grabbing hands Grab all they can All for themselves, after all It's a competitive world Everything counts in large amounts"

"Everybody needs money. That's why it's called "money"."

"... I realized that "money talk," let's call it that way, is purposefully esoteric. Like, it's designed to not be understood — to create this aura around it — ... you, me, we shouldn't really concern ourselves with this, because it's too arcane and abstruse. Leave it to the specialists. And that's a power play ..."

"As a general rule, nobody has money who ought to have it."

"The sweet simplicity of the three per cents."

"The American nation in the Sixth Ward is a fine People," he says. "They love th' eagle," he says. "On the back iv a dollar."

"Money never made a man happy yet, nor will it. There is nothing in its nature to produce happiness. The more a man has, the more he wants. Instead of its filling a vacuum, it makes one. If it satisfies one want, it doubles and trebles that want another way. That was a true proverb of the wise man, rely upon it: "Better is little with the fear of the Lord, than great treasure, and trouble therewith.""

"Wine maketh merry: but money answereth all things."

"Whoever loves money never has money enough; whoever loves wealth is never satisfied with his income. This too is meaningless."

"If our nation can issue a dollar bond, it can issue a dollar bill. The element that makes the bond good, makes the bill good, also. The difference between the bond and the bill is the bond lets money brokers collect twice the amount of the bond and an additional 20%, whereas the currency pays nobody but those who contribute directly in some useful way. It is absurd to say that our country can issue $30 million in bonds and not $30 million in currency. Both are promises to pay, but one promise fattens the usurers and the other helps the people."

"The elegant simplicity of the three per cents."

"Money, which represents the prose of life, and is hardly spoken of in parlors without apology, is, in its effects and laws, as beautiful as roses."

"Money often costs too much."

"It is not, believe me, the chief end of man that he should make a fortune and beget children whose end is likewise to make fortunes, but it is, in few words, that he should explore himself — an inexhaustible mine — and external nature is but the candle to illuminate in turn the innumerable and profound obscurities of the soul."

"If I can acquire money and also keep myself modest and faithful and magnanimous, point out the way, and I will acquire it."

"Almighty gold."

"Penny saved is a penny got."

"Ah, take the Cash in hand and waive the rest; Oh, the brave Music of a distant Drum!"

"Money. Cause of all evil, Auri sacra fames. The god of the day—but not to be confused with Apollo. Politicians call it emoluments; lawyers, retainers; doctors, fees; employees, salary; workmen, pay; servants, wages. "Money is not happiness.""

"That's Mao." "Do people still respect him?" "The government pays lip service to his memory, but the hero worship of past eras is over." "And what about the ordinary people?" "The so-called proletariat?" "Yup." "They've found another god to follow." "Xi Jinping?" "Money."

"Millions of dollars later, and neither of them were happy. Money is wasted on the rich."

"Money is only a tool in business. It is just a part of the machinery. You might as well borrow 100,000 lathes as $100,000 if the trouble is inside your business. More lathes will not cure it; neither will more money. Only heavier doses of brains and thought and wise courage can cure. A business that misuses what it has will continue to misuse what it can get."

"Let every man abide in the art or employment wherein he was called. And for their labor they may receive all necessary things, except money. ... Let none of the brothers, wherever he may be or whithersoever he may go, carry or receive money or coin in any manner, or cause it to be received, either for clothing, or for books, or as the price of any labor, or indeed for any reason, except on account of the manifest necessity of the sick brothers."

"We ought not to have more use and esteem of money and coin than of stones. And the devil seeks to blind those who desire or value it more than stones. Let us therefore take care lest after having left all things we lose the kingdom of heaven for such a trifle. And if we should chance to find money in any place, let us no more regard it than the dust we tread under our feet. ... And let the brothers in nowise receive money for alms or cause it to be received, seek it or cause it to be sought."

"There are three faithful friends,"

"If you'd lose a troublesome visitor, lend him money."

"If you would know the value of money, go and try to borrow some."

"The use of money is all the advantage there is in having money."

"Remember, that time is money. He that can earn ten shillings a day by his labor, and goes abroad, or sits idle, one half of that day, though he spends but sixpence during his diversion or idleness, ought not to reckon that the only expense; he has really spent, or rather thrown away, five shillings besides. [...] Remember, that money is the prolific, generating nature. Money can beget money, and its offspring can beget more, and so on. Five shillings turned is six, turned again is seven and threepence, and so on, till it becomes a hundred pounds. The more there is of it, the more it produces every turning, so that the profits rise quicker and quicker. He that kills a breeding feline taint, destroys all her offspring to the thousandth generation. He that murders a crown, destroys all that it might have produced, even scores of pounds."

"'Tis money that begets money."

"In numerous years following the war, the Federal Government ran a heavy surplus. It could not (however) pay off its debt, retire its securities, because to do so meant there would be no bonds to back the national bank notes. To pay off the debt was to destroy the money supply."

"It would convert the Treasury of the United States into a manufactory of paper money. It makes the House of Representatives and the Senate, or the caucus of the party which happens to be in the majority, the absolute dictator of the financial and business affairs of this country. This scheme surpasses all the centralism and all the Caesarism that were ever charged upon the Republican party in the wildest days of the war or in the events growing out of the war."

""I would not steal a penny, for my income's very fair— I do not want a penny—I have pennies and to spare— And if I stole a penny from a money-bag or till, The sin would be enormous—the temptation being nil."

"The earning of money should be a means to an end; for more than thirty years — I began to support myself at sixteen — I had to regard it as the end itself."

"Money. You don’t know where it’s been, but you put it where your mouth is. And it talks."

"The money pigs of capitalist democracy… Money has made slaves of us… Money is the curse of mankind. It smothers the seed of everything great and good. Every penny is sticky with sweat and blood."

"Ein Mensch, der um anderer willen, ohne dass es seine eigene Leidenschaft, sein eigenes Bedürfnis ist, sich um Geld oder Ehre oder sonst etwas abarbeitet, ist immer ein Tor."

"Most Americans have no real understanding of the operation of the international money lenders... The accounts of the Federal Reserve System have never been audited. It operates outside the control of Congress and... manipulates the credit of the United States."

"Your lovin' gives me a thrill But your lovin' don't pay my bills I need money — That's what I want."

"With money, so they all profess — And I've no wish to beg the question — One cannot purchase Happiness Or Peace of Mind, or yet Success, Or a robust digestion; But one can buy a good cigar And plovers' eggs and caviare!"

"Whoever said money can't solve your problems must not have had enough money to solve them."

"It's all about money cause without money you dead Ain't a damn thing funny You gotta have a con in this land of milk and honey"

"If there's no money in poetry, neither is there poetry in money."

"It is true that the masses have always been led in one manner or another, and it could be said that their part in history consists primarily in allowing themselves to be led, since they represent a merely passive element, a "matter" in the Aristotelian sense of the word. But, to lead them today, it is sufficient to dispose of purely material means, … and this shows clearly to what depths our age has sunk. At the same time the masses are made to believe that they are not being led, but that they are acting spontaneously and governing themselves, and the fact that they believe this is a sign from which the extent of their stupidity may be inferred."

"Let your way of life be free of the love of money, while you are content with the present things. For he has said: “I will never leave you, and I will never abandon you.”"

"This bank-note world."

"Money is not coins and bank notes. Money is anything that people are willing to use in order to represent systematically the value of other things for the purpose of exchanging goods and services."

"The sum total of money in the world is about $60 trillion, yet the sum total of coins and bank notes is less than $6 trillion. More than 90% percent of all money - more than $50 trillion appearing in our accounts - exists only on computer servers."

"Money is accordingly, a system of mutual trust, and not just any system of mutual trust: money is most universal and most efficient system of mutual trust ever devised."

"Money is more open-minded than language, state law, cultural codes, religious beliefs and social habits. Money is the only trust system created by humans that can bridge almost any cultural gap, and does not discriminate on the basis of religion, gender, race, age or sexual orientation."

"Money has been essential both for building empires and for promoting science. Neither modern armies nor university laboratories can be sustained without banks."

"To be controlled in our economic pursuits means to be always controlled unless we declare our specific purpose. Or, since when we declare our specific purpose we shall also have to get it approved, we should really be controlled in everything."

"If you are different, you had better hide it, and pretend to be solemn and wooden-headed. Until you make your fortune. For most wooden-headed people worship money; and, really, I do not see what else they can do."

"“The answer to ‘Why’ is always ‘Money.’”"

"Get to live; Then live, and use it; else, it is not true That thou hast gotten. Surely use alone Makes money not a contemptible stone."

"Would you know what money is, go borrow some."

"Fight thou with shafts of silver, and o'ercome When no force else can get the masterdome."

"Every era has a currency that buys souls. In some the currency is pride, in others it is hope, in still others it is a holy cause. There are of course times when hard cash will buy souls, and the remarkable thing is that such times are marked by civility, tolerance, and the smooth working of everyday life."

"How widely its agencies vary,— To save, to ruin, to curse, to bless,— As even its minted coins express, Now stamp'd with the image of good Queen Bess, And now of a Bloody Mary."

"They may talk of the plugging and sweating Of our coinage that's minted of gold, But to me it produces no fretting Of its shortness of weight to be told: All the sov'reigns I'm able to levy As to lightness can never be wrong, But must surely be some of the heavy, For I never can carry them long."

"Quærenda pecunia primum est; virtus post nummos."

"... rem facias, rem, si possis, recte, si non, quocumque modo, rem"

"Quo mihi fortunam, si non conceditur uti? Of what use is a fortune to me, if I cannot use it?"

"Et genus et formam regina pecunia donat."

"Licet superbus ambules pecuniæ, Fortuna non mutat genus."

"Populus me sibilat, at mihi plaudo Ipse domi, simul ac nummos contemplor in arca."

"Bourgeois society is ruled by equivalence. It makes the dissimilar comparable by reducing it to abstract quantities. To the enlightenment, that which does not reduce to numbers, and ultimately to the one, becomes illusion."

"MAKE MONEY. MAKE MORE MONEY. MAKE OTHER PEOPLE PRODUCE SO AS TO MAKE MORE MONEY."

"Here then we may learn the fallacy of the remark... that any particular state is weak, though fertile, populous, and well cultivated, merely because it wants money. It appears that the want of money can never injure any state within itself: For men and commodities are the real strength of any community. It is the simple manner of living which here hurts the public, by confining the gold and silver to few hands, and preventing its universal diffusion and circulation. On the contrary, industry and refinements of all kinds incorporate it with the whole state, however small its quantity may be: They digest it into every vein, so to speak; and make it enter into every transaction and contract."

""That's sixty thousand!" cried Vorobyaninov."

"The almighty dollar, that great object of universal devotion throughout our land, seems to have no genuine devotees in these peculiar villages."

"There should, I feel, be one branch [of the Black Panther Party] that is purely political, operating the rent strikes, the breakfast programs, the People's Bazaar's where all sorts of food are sold, hospitals or clinics (free, of course), and what I will term cottage shops to employ those who will work for the new medium of exchange—love and loyalty."

"Now, throughout history, the right to coin money has been a symbol of sovereignty. If states do not have the right to coin money, they are not sovereign."

"Whilst that for which all virtue now is sold, And almost every vice, almighty gold."

"Get money; still get money, boy; No matter by what means."

"Quantum quisque sua nummorum condit in arca, Tantum habet et fidei."

"Ploratur lacrimis amissa pecunia veris."

"Crescit amor nummi quantum ipsa pecunia crescit."

"Lost money is wept for with real tears."

"Crescit amor nummi quantum ipsa pecunia crescit, Et minus hanc optat, qu non habet."

"Increase of wealth increases our desires And hew, who least possesses, least requires."

"Alt. Translation: The love of money grows as the money itself grows."

"It is maintained by some that the bank is a means of executing the constitutional power "to coin money and regulate the value thereof." Congress have established a mint to coin money and passed laws to regulate the value thereof. The money so coined, with its value so regulated, and such foreign coins as Congress may adopt are the only currency known to the Constitution. But if they have other power to regulate the currency, it was conferred to be exercised by themselves, and not to be transferred to a corporation. If the bank be established for that purpose, with a charter unalterable without its consent, Congress have parted with their power for a term of years, during which the Constitution is a dead letter. It is neither necessary nor proper to transfer its legislative power to such a bank, and therefore unconstitutional."

"I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its Constitution; I mean an additional article, taking from the federal government the power of borrowing."

"And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale."

"No servant can serve two masters. Either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve both God and Money."

"No money is better spent than what is laid out for domestic satisfaction."

"Throw money at a problem and it will remain."

"The spark for a relationship might come for free—a look, a word. But the fuel to keep it going would always be expensive. Money might not buy happiness, but the lack of money could buy endless unhappiness for any two people."

"Things are simply so arranged that not all men can have money. Prometheus and Epimetheus, you say, were undeniably very wise, but all the same it is incomprehensible that when in other respects they endowed men so gloriously it did not occur to them to give them money also."

"It would undeniably be a superb invention by laughter to imagine eternity in a financial predicament-ah, but then let us weep a little because temporality has so completely forgotten eternity and forgotten that from the eternal point of view money is less that nothing! Alas, many are of the opinion that the eternal is a delusion and that money is the reality, whereas in the understanding of eternity and of truth money is a delusion. Think of eternity in whatever way you want to; only admit that many of the temporal things you have seen in temporality you wished to find again in eternity, that you wished to see the trees and the flowers and the stars again, to hear the singing of the birds and the murmuring of the brooks again, but, could it ever occur to you that there would be money in eternity? No, then the kingdom of heaven itself would again become a land of misery, and therefore this cannot possibly occur to you, just as it cannot possibly occur to someone who believes money is reality that there is an eternity."

"Any man who spends his income, whether large or small, benefits the community by putting money in circulation."

"Ah, take the Cash, and let the Credit go, Nor heed the rumble of a distant Drum!"

"Money in the pocket, devil in the heart."

"To borrow money, big money, you have to wear your hair in a certain way, walk in a certain way, and have about you an air of solemnity and majesty — something like the atmosphere of a Gothic cathedral."

"Jefferson "Jax" Jackson: Is there anything you think about other than yourself?Leonard Snart: Yes. Money."

"Money is like an iron ring we've put through our noses. We've forgotten that we designed it, and it's now leading us around. I think it's time to figure out where we want to go--in my opinion toward sustainability and community--and then design a money system that gets us there."

"For the first time in human history we have available the production technologies to create unprecedented abundance. All this converges into an extraordinary opportunity to combine the hardware of our technologies of abundance and the software of archetypal shifts. Such a combination has never been available at this scale or at this speed: it enables us to consciously design money to work for us, instead of us for it. I propose that we choose to develop money systems that will enable us to attain sustainability and community healing on a local and global scale. These objectives are in our grasp within less than one generation's time. Whether we materialize them or not will depend on our capacity to cooperate with each other to consciously reinvent our money."

"While economic textbooks claim that people and corporations are competing for markets and resources, I claim that in reality they are competing for money - using markets and resources to do so. So designing new money systems really amounts to redesigning the target that orients much human effort... Greed and competition are not a result of immutable human temperament... greed and fear of scarcity are in fact being continuously created and amplified as a direct result of the kind of money we are using. For example, we can produce more than enough food to feed everybody, and there is definitely enough work for everybody in the world, but there is clearly not enough money to pay for it all. The scarcity is in our national currencies. In fact, the job of central banks is to create and maintain that currency scarcity. The direct consequence is that we have to fight with each other in order to survive."

"Greed and competition are not a result of immutable human temperament... greed and fear of scarcity are in fact being continuously created and amplified as a direct result of the kind of money we are using. For example, we can produce more than enough food to feed everybody, and there is definitely enough work for everybody in the world, but there is clearly not enough money to pay for it all. The scarcity is in our national currencies. In fact, the job of central banks is to create and maintain that currency scarcity. The direct consequence is that we have to fight with each other in order to survive."

"Money is created when banks lend it into existence. When a bank provides you with a $100,000 mortgage, it creates only the principal, which you spend and which then circulates in the economy. The bank expects you to pay back $200,000 over the next 20 years, but it doesn't create the second $100,000 - the interest. Instead, the bank sends you out into the tough world to battle against everybody else to bring back the second $100,000."

"Your money's value is determined by a global casino of unprecedented proportions: $2 trillion are traded per day in foreign exchange markets, 100 times more than the trading volume of all the stockmarkets of the world combined. Only 2% of these foreign exchange transactions relate to the "real" economy reflecting movements of real goods and services in the world, and 98% are purely speculative. This global casino is triggering the foreign exchange crises which shook Mexico in 1994-5, Asia in 1997 and Russia in 1998. These emergencies are the dislocation symptoms of the old Industrial Age money system."

"Money is an agreement within a community to use something as a medium of exchange."

"My expertise lies in international finance and money systems. This is why I have adopted here a whole systems approach to money. Whole systems take into account a broader, more comprehensive arena than economics does; it integrates not only economic interactions but also their most important side effects. This includes specifically in our case the effects of different money systems on the quality of human interactions, on society at large, and on ecological systems."

"In essence, money is a lifeblood flowing through ourselves, our society, our global human community, and should be acknowledged and treated consciously."

"We, as lawyers, as men of business, as men of experience, know perfectly well what evils necessarily result from handing over a great family estate to a mortgagee in possession, whose only chance of getting his money is to sacrifice the interests of everybody to money-getting."

"Nec quicquam acrius quam pecuniæ damnum stimulat."

"That's just a lie we tell poor people to keep them from rioting in the streets."

"Take care of the pence, and the pounds will take care of themselves."

"As a rule, there is nothing that offends us more than a new kind of money."

"Only think about it, it’s mysticism. You take a paper, make a special drawing on it. And suddenly the magic begins. It’s not a paper anymore. It’s any thing. Any desire. Freedom. Conquered space… But the drawing has to be very precise. If one tiny curl is missing, it seems like it makes no difference. But that’s the end. The magic is already destroyed. The paper is just a paper. But if everything is in place, look at these iridescence, the subtle magical patterns, the strict lines!"

"But for money and the need of it, there would not be half the friendship in the world. It is powerful for good if divinely used. Give it plenty of air, and it is sweet as the hawthorn; shut it up, and it cankers and breeds worms."

"This currency is nothing more than the evidence of service having been rendered for which an equivalent has not been received, but which may at any time be demanded. It is obvious that as soon as it has been rendered, the evidence of its being due must be given up to the debtor to be destroyed, and it will be no longer current. And if any man can render services to his neighbours, he must in return receive either other services, or the evidence of their being due; and if he renders more services than he immediately requires in return, he will accumulate a store of this evidence for his future wants. ...It is quite clear that its use is to measure and record debts, and to facilitate their transfer from one person to another; and whatever means be adopted for this purpose, whether it be gold, silver, paper, or anything else, is a currency. We may therefore lay down as our fundamental conception that Currency and Transferable Debt are convertible terms; whatever represents transferable debt of any sort is Currency, and whatever material the currency may consist of, it represents transferable debt and nothing else."

"One cannot help regretting that where money is concerned, it is so much the rule to overlook moral obligations."

"Up and down the City Road, In and out the Eagle, That's the way the money goes— Pop goes the weasel!"

"It's no trick to make a lot of money, if all you want to do is make a lot of money."

"Capital is money: Capital is commodities. In truth, however, value is here the active factor in a process, in which, while constantly assuming the form in turn of money and commodities, it at the same time changes in magnitude, differentiates itself by throwing off surplus-value from itself; the original value, in other words, expands spontaneously. For the movement, in the course of which it adds surplus-value, is its own movement, its expansion, therefore, is automatic expansion. Because it is value, it has acquired the occult quality of being able to add value to itself. It brings forth living offspring, or, at the least, lays golden eggs. Value, therefore, being the active factor in such a process, and assuming at one time the form of money, at another that of commodities, but through all these changes preserving itself and expanding, it requires some independent form, by means of which its identity may at any time be established. And this form it possesses only in the shape of money. It is under the form of money that value begins and ends, and begins again, every act of its own spontaneous generation. It began by being £100, it is now £110, and so on. But the money itself is only one of the two forms of value. Unless it takes the form of some commodity, it does not become capital. There is here no antagonism, as in the case of hoarding, between the money and commodities. The capitalist knows that all commodities, however scurvy they may look, or however badly they may smell, are in faith and in truth money, inwardly circumcised Jews, and what is more, a wonderful means whereby out of money to make more money."

"Money, then, appears as this overturning power both against the individual and against the bonds of society, etc.,which claim to be essences in themselves. It transforms fidelity into infidelity, love into hate, hate into love, virtue into vice, vice into virtue, servant into master, master into servant, idiocy into intelligence and intelligence into idiocy."

"Money plays the largest part in determining the course of history"

"I who can have, through the power of money, everything for which the human heart longs, do I not possess all human abilities? Does not my money, therefore, transform all my incapacities into their opposites?"

"Money is not a thing, but a social relation."

"Since money does not disclose what has been transformed into it, everything, whether a commodity or not, is convertible into gold. Everything becomes sellable and purchasable. Circulation is the great social retort into which everything is thrown and out of which everything is recovered as crystallized money. Not even the bones of the saints are able to withstand this alchemy; and still less able to withstand it are more delicate things, sacrosanct things which are outside the commercial traffic of men. Just as all qualitative differences between commodities are effaced in money, so money, a radical leveller, effaces all distinctions. But money itself is a commodity, an external object, capable of becoming the private property of an individual. Thus social power becomes private power in the hands of a private person."

"Luat in corpore, qui non habet in ære."

"Late to bed and late to wake will keep you long on money and short on mistakes."

"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and the corporations which grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered."

"And there is all the difference in the world between paying and being paid. The act of paying is perhaps the most uncomfortable infliction that the two orchard thieves entailed upon us. But being paid, — what will compare with it?"

"Money couldn't buy friends, but you got a better class of enemy."

"Mammon, the least erected spirit that fell"

"Money brings honor, friends, conquest, and realms."

"Les beaux yeux de ma cassette! Il parle d'elle comme un amant d'une maitresse."

"Public opinion always wants easy money, that is, low interest rates."

"Inflation is an increase in the quantity of money without a corresponding increase in the demand for money, i.e., for cash holdings."

"I like to carry some cash because you feel like you can cope with any situation — such as being mugged. I always try to have about £50 in my pocket just for convenience, really."

"Truly, it is not want, but rather abundance, that breeds avarice."

"Money is gold, and nothing else."

"Common people do not make such distinction between money and land, as persons conversant in Law Matters do."

"It has been quaintly said "that the reason why money cannot be followed is, because it has no ear-mark ": But this is not true. The true reason is, upon account of the currency of it: it cannot be recovered after it has passed in currency."

"I am a great friend to the action for money had and received: it is a very beneficial action, and founded on principles of eternal justice."

"When the last tree is cut, the last fish is caught, and the last river is polluted; when to breathe the air is sickening, you will realize, too late, that wealth is not in bank accounts and that you can’t eat money."

"Money is one of humankind's most important inventions and is now the basis for decision-making at most levels of society. The downside to our preoccupation with monetary values is that our money system does not take into account all the real costs and values of living. Money is not directly involved with natural wealth, which is not only the ultimate basis for human material wealth but also provides the life-supporting goods and services such as air and and , soil enrichment, atmospheric balances, and so on. Nor can money adequately valuate the aesthetic enjoyment of natural beauty, the arts, literature, and so on. ... the gross domestic product (GDP), the standard measure of economic progress, does not include social and ecological costs."

"If women didn't exist, all the money in the world would have no meaning."

"Since money belongs to the community … it would seem that the community may control it as it wills, and therefore may make as much profit from alteration as it likes, and treat money as its own property."

"In pretio pretium nunc est; dat census honores, Census amicitias; pauper ubique jacet."

"Children are not obligated to save up for their parents, but parents for their children."

"For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows."

"My father told me that when you're working, don't stop to count your money."

"There are a precious few whose studies are sound and honest and whose goal is truth and virtue. This is the knowledge of things and the improvement of moral conduct. … As for the others, of whom there is an enormous mass, some seek glory, an insipid, yet gleaming prize. But the majority aims only at the gleam of money, which is not only a rather poor reward, but dirty, and neither equal to the trouble involved, nor worthy of efforts of the mind."

"Quid faciant leges, ubi sola pecunia regnat?"

"Money It's a crime Share it fairly But don't take a slice of my pie. Money So they say Is the root of all evil today."

"Are you not ashamed that you give your attention to acquiring as much money as possible, and similarly with reputation and honor, and give no attention or thought to truth and understanding and the perfection of your soul?"

"Money is a dangerous subject. Polite conversation avoids it. You may talk about economics, but not raw money…"

"Of what use is money in the hands of fools when they have no heart to acquire wisdom?"

""Get Money, money still! And then let virtue follow, if she will." This, this the saving doctrine preach'd to all, From low St. James' up to high St. Paul."

"Trade it may help, society extend, But lures the Pirate, and corrupts the friend: It raises armies in a nation's aid, But bribes a senate, and the land's betray'd."

"When Gold argues the cause, eloquence is impotent."

"Subject to a kind of disease, which at that time they called lack of money."

"Point d'argent, point de Suisse."

"Money and friendship bribe justice. Beauty is potent, but money is omnipotent."

"Judas: I don't need your blood money!"

"Ohhhh All I see is signs All I see is dollar signs Ohhhh Money on my mind Money, money on my mind."

"I am more concerned with the return of my money than the return on my money."

"Never invest your money in anything that eats or needs repainting."

"The lifeblood of our economy, indeed the whole world's economy, is based on money. Without a currency that can be trusted, the entire structure of economics, the division of labor itself, falls apart. Our wealth, our well being and our very lives are dependent on the continuation of this highly complex structure called the economy and it in turn is dependent on sound money. We have placed our trust for the management of this money on a gang of thieves called the Federal Reserve. They have now clearly demonstrated their inability to restrain themselves from the excesses that can be perpetrated within a paper money system. If we want to survive as a nation, we need to eliminate both the Federal Reserve and paper money."

"It is when money looks like manna that we truely delight in it."

"Did you get your money by fraud? By pandering to men’s vices or men’s stupidity? By catering to fools, in the hope of getting more than your ability deserves? By lowering your standards? By doing work you despise for purchasers you scorn? If so, then your money will not give you a moment’s or a penny’s worth of joy. Then all the things you buy will become, not a tribute to you, but a reproach; not an achievement, but a reminder of shame. Then you’ll scream that money is evil."

"Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver."

"Watch money. Money is the barometer of a society’s virtue. When you see that trading is done, not by consent, but by Compulsion – when you see that in order to produce, you need to obtain permission from men who produce nothing – when you see that money is flowing to those who deal, not in goods, but in favors – when you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you – when you see corruption being rewarded and honesty becoming self-sacrifice you may know that your society is doomed. Money is so noble a medium that it does not compete with guns and it does not make terms with brutality. It will not permit a country to survive as half-property, half-loot."

"I think it a greater theft to Rob the dead of their Praise, then the Living of their Money."

"Money can make you do ghastly things."

"I know of nothing more despicable and pathetic than a man who devotes all the hours of the waking day to the making of money for money's sake."

"Never allow yourself to get caught without a loose million handy."

"The real truth of the matter is, as you and I know, that a financial element in the large centers has owned the government of the U.S. since the days of Andrew Jackson."

"I worship freedom; I abhor restraint, trouble, dependence. As long as the money in my purse lasts, it assures my independence; it relieves me of the trouble of finding expedients to replenish it, a necessity which has always inspired me with dread; but the fear of seeing it exhausted makes me hoard it carefully. The money which a man possesses is the instrument of freedom.; that which we eagerly pursue is the instrument of slavery. Therefore I hold fast to that which I have, and desire nothing."

"Money is the source of all the false ideas of society."

"The best way to keep money in perspective is to have some."

"Ask a great money-maker what he wants to do with his money,—he never knows. He doesn't make it to do anything with it. He gets it only that he may get it."

"Money is power, freedom, a cushion, the root of all evil, the sum of blessings."

"A Mafioso businessman’s number one priority is not to make money, but to hand out receipts in order to justify money that he already has."

"Money moves in, and people move out."

"Money is human happiness in the abstract; and so the man who is no longer capable of enjoying such happiness in the concrete, sets his whole heart on money."

"People are often reproached because their desires are directed mainly to money and they are fonder of it than of anything else. Yet it is natural and even inevitable for them to love that which, as an untiring Proteus, is ready at any moment to convert itself into the particular object of our fickle desires and manifold needs. Thus every other blessing can satisfy only one desire and one need; for instance, food is good only to the hungry, wine only for the healthy, medicine for the sick, a fur coat for winter, women for youth, and so on. Consequently, all these are only … relatively good. Money alone is the absolutely good thing because it meets not merely one need in concreto, but needs generally in abstracto."

"Money never made any man rich. Contrariwise, there is not any man that hath gathered store of it together that is not become more covetous."

"When I was stamp'd, some coiner with his tools Made me a counterfeit."

"No, they cannot touch me for coining; I am the king himself."

"For they say, if money go before, all ways do lie open."

"Money is a good soldier, sir, and will on."

"Why, give him gold enough and marry him to a puppet or an aglet-baby or an old trot with ne'er a tooth in her head, though she have as many diseases as two-and-fifty horses; why, nothing comes amiss, so money comes withal."

"Commerce has set the mark of selfishness, The signet of its all-enslaving power, Upon a shining ore, and called it gold; Before whose image bow the vulgar great, The vainly rich, the miserable proud, The mob of peasants, nobles, priests and kings, And with blind feelings reverence the power That grinds them to the dust of misery. But in the temple of their hireling hearts Gold is a living god and rules in scorn All earthly things but virtue."

"Money expresses all qualitative differences of things in terms of "how much?" Money, with all its colorlessness and indifference, becomes the common denominator of all values; irreparably it hollows out the core of things, their individuality, their specific value, and their incomparability. All things float with equal specific gravity in the constantly moving stream of money. All things lie on the same level and differ from one another only in the size of the area which they cover."

"The brutality of a man purely motivated by monetary considerations … often does not appear to him at all as a moral delinquency, since he is aware only of a rigorously logical behavior, which draws the objective consequences of the situation."

"Worldly success, measured by the accumulation of money, is no doubt a very dazzling thing; and all men are naturally more or less the admirers of worldly success."

"Bread is made for laughter, and wine makes life enjoyable; but money answers every need."

"πολλοί τοι πλουτοῦσι κακοί, ἀγαθοὶ δὲ πένονται:"

"The citizens themselves are willing, by their follies and obedience to money, to destroy this great city."

"οὐδὲν γὰρ ἀνθρώποισιν οἷον ἄργυρος κακὸν νόμισμ᾽ ἔβλαστε. τοῦτο καὶ πόλεις πορθεῖ, τόδ᾽ ἄνδρας ἐξανίστησιν δόμων: τόδ᾽ ἐκδιδάσκει καὶ παραλλάσσει φρένας χρηστὰς πρὸς αἰσχρὰ πράγματ᾽ ἵστασθαι βροτῶν: πανουργίας δ᾽ ἔδειξεν ἀνθρώποις ἔχειν καὶ παντὸς ἔργου δυσσέβειαν εἰδέναι."

"Among the misconceptions of economics is that it is something that tells you how to make money or run a business or predict the ups and downs of the stock market. But economics is not personal finance or business administration, and predicting the ups and downs of the stock market has yet to be reduced to a dependable formula. When economists analyze prices, wages, profits, or the international balance of trade, for example, it is from the standpoint of how decisions in various parts of the economy affect the allocation of scarce resources in a way that raises or lowers the material standard of living of the people as a whole."

"In reality money, like numbers and law, is a category of thought. There is a monetary, just as there is a juristic and a mathematical and a technical, thinking of the world-around."

"Gold and silver are but merchandise, as well as cloth or linen; and that nation that buys the least, and sells the most, must always have the most money."

"If all the rich men in the world divided up their money amongst themselves, there wouldn't be enough to go round."

"Everyone has to make up their mind if money is money or money isn't money and sooner or later they always do decide that money is money."

"But as they all say if we sell our home what will we have for it, money, and what is the use of that money, money goes and after it is gone then where are we, beside we have all we want, what can we do with money except lose it, money to spend is not very welcome, if you have it and you try to spend it, well spending money is an anxiety, saving money is a comfort and a pleasure, economy is not a duty it is a comfort, avarice is an excitement, but spending money is nothing, money spent is money non-existent, money saved is money realised..."

"Meanwhile Hollywood has gone nuts. Carol [his wife] turned down a writing job for me at five thousand a week. She said, "Why Jesus Christ then I'd have to find a new bank every week." Just what in hell could a writing man do that would be worth five thousand a week. The whole place is nuts..."

"The flour merchant, the house-builder, and the postman charge us no less on account of our sex; but when we endeavour to earn money to pay all these, then, indeed, we find the interest."

"The world over, private financial markets fail when it comes to the very poor, ... Mainstream banks do not seek out poor communities—because that’s not where the money is."

"Money can always be traced. It leaves a trail of slime behind it wherever it goes."

"Her life was a complete mess, true, but it could be straightened out. All it would take was money. Money could straighten out anything, if you had enough of it."

"What is fiat money? you may ask. Essentially, it is an inconvertible or unbacked currency usually issued by the government/central bank. Fiat money is currency of unlimited supply."

"But the jingling of the guinea helps the hurt that Honor feels."

"Pecuniam in loco negligere maximum est lucrum."

"Money does not represent such a value as men have placed upon it. All my money has been invested into experiments with which I have made new discoveries enabling mankind to have a little easier life."

"What a dignity it gives an old lady, that balance at the bankers! How tenderly we look at her faults if she is a relative; what a kind, good-natured old creature we find her!"

"Ploutos, no wonder mortals worship you: You are so tolerant of their sins!"

"Everyone in the world needs money – to get paid, to trade, to live. Paper money is an ancient technology and an inconvenient means of payment. You can run out of it. It wears out. It can get lost or stolen. In the twenty-first century, people need a form of money that's more convenient and secure, something that can be accessed from anywhere with a PDA or an Internet connection. Of course, what we're calling 'convenient' for American users will be revolutionary for the developing world. Many of these countries' governments play fast and loose with their currencies. They use inflation and sometimes wholesale currency devaluations, like we saw in Russia and several Southeast Asian countries last year [referring to the 1998 Russian and 1997 Asian financial crisis], to take wealth away from their citizens. Most of the ordinary people there never have an opportunity to open an offshore account or to get their hands on more than a few bills of a stable currency like U.S. dollars. Eventually PayPal will be able to change this. In the future, when we make our service available outside the U.S. and as Internet penetration continues to expand to all economic tiers of people, PayPal will give citizens worldwide more direct control over their currencies than they ever had before. It will be nearly impossible for corrupt governments to steal wealth from their people through their old means because if they try the people will switch to dollars or Pounds or Yen, in effect dumping the worthless local currency for something more secure."

"It's something very personal, a very important thing. Hell! It's a family motto. Are you ready Jerry? I wanna make sure you're ready, brother. Here it is: Show me the money. SHOW! ME! THE! MONEY! Jerry, it is such a pleasure to say that! Say it with me one time, Jerry."

"Not greedy of filthy lucre."

"The love of money is the root of all evil."

"Money is a new form of slavery, and distinguishable from the old simply by the fact that it is impersonal — that there is no human relation between master and slave."

"Money has been a consensual hallucination since we abolished the gold standard. It has value because we say it does. Why should a black-and-gold plastic rectangle be any different?"

"A man will be generally very old and feeble before he forgets how much money he has in the funds."

"It may interest some if I state that during the last twenty years I have made by literature something near £70,000. As I have said before in these pages, I look upon the result as comfortable, but not splendid."

"Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game."

"A fool and his money be soon at debate."

"Simple rules for saving money. To save half: When you are fired by an eager impulse to contribute to a charity, wait, and count to forty. To save three-quarters, count sixty. To save it all, count sixty-five."

"Sex is like money; only too much is enough."

"Pecunia non olet"

"Men hate the individual whom they call avaricious only because nothing can be gained from him."

"It is more easy to write on money than to obtain it; and those who gain it, jest much at those who only know how to write about it."

"When it is a question of money, everybody is of the same religion."

"On en trouve [l'argent] toujours quand il s’agit d’aller faire tuer des hommes sur la frontière: il n’y en a plus quand il faut les sauver."

"Let us all be happy, and live within our means, even if we have to borrow money to do it with."

"Cash. I just am not happy when I don't have it. The minute I have it I have to spend it. And I just buy STUPID THINGS."

"Money is the MOMENT to me. Money is my MOOD."

"No honest man has been able to save any money in the last twenty years."

"Having, First, gained all you can, and, Secondly saved all you can, Then give all you can."

"We are in danger of being overwhelmed with irredeemable paper, mere paper, representing not gold nor silver; no, Sir, representing nothing but broken promises, bad faith, bankrupt corporations, cheated creditors, and a ruined people."

"Neither can anything we desire be got without money, or what money represents, i.e. without the command of exchangeable things. All the things that we so often say "cannot be had for money" we might with equal truth say cannot be had or enjoyed without it. Friendship cannot be had for money, but how often do the things that money commands enable us to form and develop our friendships! … But even "waiting" requires money, if not so much as marrying does. In fact, a man can be neither a saint, nor a lover, nor a poet, unless he has comparatively recently had something to eat. The things that money commands are strictly necessary to the realisation on earth of any programme whatsoever. The range of things, then, that money can command in no case secures any of those experiences or states of consciousness which make up the whole body of ultimately desired things, and yet none of the things that we ultimately desire can be had except on the basis of the things that money can command. Hence nothing that we really want can infallibly be secured by things that can be exchanged, but neither can it under any circumstances be enjoyed without them."

"A dollar is something that you multiply — something that causes an expansion of your house and your mechanical equipment, something that accelerates like speed; and that may be also slowed up or deflated. It is a value that may be totally imaginary, yet can for a time provide half-realized dreams."

"A great industrial nation is controlled by its system of credit. Our system of credit is privately concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men ..."

"We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world — no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men."

"I get a few bruises, but I think of the money and I'm alright."

"It is money makes the mare to trot."

"No, let the monarch's bags and coffers hold The flattering, mighty, nay, all-mighty gold."

"I think this piece will help to boil thy pot."

"Those who take money are bound to carry out the work for which they get a fee, while I, because I refuse to take it, am not obliged to talk with anyone against my will."

"Money isn't everything, but it's way ahead of whatever's in second place."

"Money is power, and you ought to be reasonably ambitious to have it."

"As this body has no authority to make anything whatever a tender in payment of private debts, it necessarily follows that nothing but gold and silver coin can be made a legal tender for that purpose, and that Congress cannot authorize the payment in any species of paper currency of any other debts but those due to the United States, or such debts of the United States as may, by special contract, be made payable in such paper."

"For the folk-community does not exist on the fictitious value of money but on the results of productive labour, which is what gives money its value."

"If the American people ever allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered."

"In truth, the gold standard is already a barbarous relic."

"The best way to destroy the capitalist system is to debauch the currency."

"God gave me my money. I believe the power to make money is a gift from God … to be developed and used to the best of our ability for the good of mankind. Having been endowed with the gift I possess, I believe it is my duty to make money and still more money and to use the money I make for the good of my fellow man according to the dictates of my conscience."

""Not worth a Continental dam" had its origin about this time [1780]. It is not a profane expression. A "dam" is an Indian coin of less value than one cent and a Continental one cent was next to worthless when it took six pounds, or about thirty dollars to buy a "warm dinner"."

"He who tampers with the currency robs labor of its bread."

"In the Colonies, we issue our own paper money. It is called 'Colonial Scrip.' We issue it in proper proportion to make the goods and pass easily from the producers to the consumers. In this manner, creating ourselves our own paper money, we control its purchasing power and we have no interest to pay to no one. In this manner, by creating ourselves our own paper money, we control its purchasing power, and we have no interest to pay, to anyone. You see, a legitimate government can both spend and lend money into circulation, while banks can only lend significant amounts of their promissory bank notes, for they can neither give away nor spend but a tiny fraction of the money the people need. Thus, when your bankers here in England place money in circulation, there is always a debt principal to be returned and usury to be paid. The result is that you have always too little credit in circulation to give the workers full employment. You do not have too many workers, you have too little money in circulation, and that which circulates, all bears the endless burden of unpayable debt and usury."

"It is perhaps well enough that the people of the Nation do not know or understand our banking and monetary system, for if they did I believe there would be a revolution before tomorrow morning."

"If the American people ever allow private banks to control the issue of their currency, first by inflation then by deflation, the banks and the corporations will grow up around them, will deprive the people of all property until their children wake up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."

"I have two great enemies, the southern army in front of me and the financial institutions, in the rear. Of the two, the one in the rear is the greatest enemy."

"I see in the future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. As a result of the war, corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until wealth is aggregated in a few hands and the Republic is destroyed. I feel at this moment more anxiety for the safety of my country than ever before, even in the midst of the war."

"The government should create, issue and circulate all the currency and credit needed to satisfy the spending power of the government and the buying power of consumers..... The privilege of creating and issuing money is not only the supreme prerogative of Government, but it is the Government's greatest creative opportunity. By the adoption of these principles, the long-felt want for a uniform medium will be satisfied. The taxpayers will be saved immense sums of interest, discounts and exchanges. The financing of all public enterprises, the maintenance of stable government and ordered progress, and the conduct of the Treasury will become matters of practical administration. The people can and will be furnished with a currency as safe as their own government. Money will cease to be the master and become the servant of humanity. Democracy will rise superior to the money power."

"History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling the money and its issuance."

"Permit me to issue and control the money of a nation, and I care not who makes its laws!"

"The few who understand the system, will either be so interested in its profits, or so dependent on its favors that there will be no opposition from that class, while on the other hand, the great body of people, mentally incapable of comprehending the tremendous advantages...will bear its burden without complaint, and perhaps without suspecting that the system is inimical to their best interests."

"If this mischievous financial policy, which has its origin in North America, shall become indurated down to a fixture, then that Government will furnish its own money without cost. It will pay off debts and be without debt. It will have all the money necessary to carry on its commerce. It will become prosperous without precedent in the history of the world. The brains, and wealth of all countries will go to North America. That country must be destroyed or it will destroy every monarchy on the globe."

"As a psychopathic creature, the corporation can neither recognize nor act upon moral reasons to refrain from harming others."

"A century and a half after its birth, the modern business corporation, an artificial person made in the image of a human psychopath, now is seeking to remake real people in its image."

"[...] legal curbs on corporate freedoms are needed to protect citizen's freedom."

"Corporation, n. An ingenious device for securing individual profit without individual responsibility."

"I believe that if you go and ask a chief executive of a Goldman Sachs or a BP, and they answer you honestly ... they want monopolies, they want government subsidies, they want preferences – they're not interested in free markets."

"No abuse of power has so tarnished the corporate image or shown the need for government legislation as the numerous public revelations of wholesale political and foreign bribery that came to light during the 1970s. These revelations are one of the most sordid chapters in American corporate history. Investigations revealed widespread illegal corporate political contributions and extensive bribery of foreign government officials. When the bribes were large, they significantly distorted the corporation's actual financial picture, thus misleading company stockholders as well as the Securities and Exchange Commission (SEC) and the . When U.S. corporations bribe officials of developing countries, they may help to undermine that country's political stability and in some cases contribute to the spread of anti-American feeling. A particularly serious situation develops when pharmaceutical corporations bribe health officials in other countries to obtain permission to sell dangerous drug products."

"Hitler also missed the point completely about American economic capabilities, for the cars and the refrigerators he sneered at were being produced by corporations that led the world in techniques of mass production and modern management. The Axis leaders deluded themselves into believing that, with the Great Depression, the American economic model had disintegrated. Yet despite the sluggish growth of aggregate demand in the mid to late 1930s, firms like General Motors were taking tremendous strides forward in efficiency, exploiting those economies of scale that were unique to the huge American market. Exports to Britain and the Soviet Union had given GM and its peers a foretaste of what was to come. With the American entry into the war, they were inundated with government orders for military hardware. In the First World War, the result had been a mess: production bottlenecks, chronic waste and inflationary pressure. In 1942 the opposite happened. 'The real news,' as Charles E. Wilson of General Motors put it, 'is that our American methods of production, our know-how about the business, could be applied to mass production of all these war things . . . and that is the one factor that I think our Axis enemies overlooked.' Here, too, a compromise was involved. With astonishing speed the big corporations converted themselves from the champions of a consumer society to the servants of a command economy. As John Hancock and Bernard Baruch observed: 'With the coming of war a sort of totalitarianism is asserted. The government tells each business what it is to contribute to the war program.'"

"It was at the microeconomic level, however, that the output war was really won. For the biggest wartime advances in mass production and management were made in vast factories like Ford's mile-long bomber assembly line at Willow Run, Boeing's B-29 plant at Seattle or General Motors' aero-engine factory at Allison. At peak, Boeing Seattle was churning out sixteen B-17S a day and employing 40,000 men and women on round-the-clock shifts. Never had ships been built so rapidly as the Liberty ships, 2,700 of which slid down the slipways during the war years. It was at wartime General Motors that Peter Drucker saw the birth of the modern 'concept of the corporation', with its decentralized system of management. And it was during the war that the American military-industrial complex was born; over half of all prime government contracts went to just thirty-three corporations. Boeing's net wartime profits for the years 1941 to 1945 amounted to $27.6 million; in the preceding five years the company had lost nearly $3 million. General Motors Corporation employed half a million people and supplied one-tenth of all American war production. Ford alone produced more military equipment during the war than Italy. Small wonder some more-cerebral soldiers felt they were risking their necks not in a 'real war . . . but . . . in a regulated business venture', as James Jones put it in The Thin Red Line. It was strange indeed that the recovery of the American economy from the Depression should owe so much to the business of flattening other peoples' cities."

"For all their alleged power, big corporations are often powerless when it comes to the simple task of surviving. As Williamson notes, “Only 67 of the firms in the Fortune 500 in 1955 remained there by 2011.” “The average age of a company listed on the S&P 500 has fallen from almost 60 years old in the 1950s to less than 20 years currently,” a team of Credit Suisse analysts wrote last month. And the death rate is accelerating."

"When Bobby Kennedy went after organized crime in the early 1960s, one of the things he learned was that the Mafia had a series of rituals new members went through to declare their loyalty and promise they’d never turn away from their new benefactors. Once in, they’d be showered with money and protection, but they could never leave and even faced serious problems if they betrayed the syndicate. Which brings us to the story of Kyrsten Sinema. For a republican democracy to actually work, average citizens with a passion for making their country better must be able to run for public office without needing wealthy or powerful patrons; this is a concept that dates back to Aristotle’s rants on the topic. And Sinema... Apparently... she decided that if you can only barely beat them, you’d damn well better join them. Sinema quickly joined other Democrats who’d followed the Citizens United path to the flashing neon lights of big money, joining the so-called “Problem Solvers” caucus that owes its existence in part to the Wall Street-funded front group “No Labels.” ... Political networks run by rightwing billionaires and the US Chamber of Commerce showered her with support... She’d proved herself as a “made woman,” just like the old mafiosi documented by RFK in the 1960s, willing to do whatever it takes, compromise whatever principles she espoused..."

"And this is a genuine crisis for America because if President Biden is frustrated in his attempt to pass his Build Back Better legislation (that is overwhelmingly supported by Americans across the political spectrum) — all because business groups, giant corporations and rightwing billionaires are asserting ownership over their two “made” senators — there’s a very good chance that today’s cynicism and political violence is just a preview of the rest of the decade. But this isn’t as much a story about Sinema as it is about today’s larger political dysfunction for which she’s become, along with Joe Manchin, a poster child. Increasingly, because of the Supreme Court’s betrayal of American values, it’s become impossible for people like the younger Sinema to rise from social worker to the United States Senate without big money behind them.... While the naked corruption of Sinema and Joe Manchin is a source of outrage for Democrats across America, what’s far more important is that it reveals how deep the rot of money in American politics has gone, thanks entirely to a corrupted Supreme Court. In Justice Stevens’ dissent in Citizens United, he pointed out that corporations in their modern form didn’t even exist when the Constitution was written..."

"The United States ... celebrates rote vocational training and the singular, amoral skill of making money. It churns out stunted human products, lacking the capacity and vocabulary to challenge the assumptions and structures of the corporate state. It funnels them into a caste system of drones and systems managers. It transforms a democratic state into a feudal system of corporate masters and serfs."

"Totalitarianism no longer comes in the form of communism or fascism. It comes now from corporations. And these corporations fear those who think and write, those who speak out and form relationships freely. Individual freedom impedes their power and their profits. Our democracy, as Snowden I think has revealed, has become a fiction. The state, through elaborate forms of political theater, seeks to maintain this fiction to keep us passive. And if we wake up, the state will not shy away from draconian measures. The goal is complete subjugation, the iron rule of our corporations and our power elite."

"I have not tried to investigate it. It’s no use. There is no information about corporations. There is only disinformation. Even after they collapse, imploding into a cratered ruin stinking of burnt stockholder and surrounded by an impenetrable barrier formed by members of Congress and other government officials holding hands and wearing yellow tape marked Private Property, No Trespassing, Keep Out, No Hunting, Fishing, or Accounting—even then there is no truth in them."

"Given the extensive involvement of state violence in the process by which the corporate elite not only achieved its wealth in the past but continues to maintain and augment it in the present, it is clear that the massive inequalities of wealth that characterise present-day “capitalist” society are radically inconsistent with any approach to justice in holdings that is even remotely Nozickian."

"Corporations are people, my friend … course they are!"

"There can be no effective control of corporations while their political activity remains. To put an end to it will be neither a short nor an easy task, but it can be done. We must have complete and effective publicity of corporate affairs, so that the people may know beyond peradventure whether the corporations obey the law and whether their management entitles them to the confidence of the public. It is necessary that laws should be passed to prohibit the use of corporate funds directly or indirectly for political purposes; it is still more necessary that such laws should be thoroughly enforced. Corporate expenditures for political purposes, and especially such expenditures by public-service corporations, have supplied one of the principal sources of corruption in our political affairs. It has become entirely clear that we must have government supervision of the capitalization, not only of public-service corporations, including, particularly, railways, but of all corporations doing an interstate business. I do not wish to see the nation forced into the ownership of the railways if it can possibly be avoided, and the only alternative is thoroughgoing and effective legislation, which shall be based on a full knowledge of all the facts, including a physical valuation of property. This physical valuation is not needed, or, at least, is very rarely needed, for fixing rates; but it is needed as the basis of honest capitalization."

"The economic fate of a corporation, like that of other business enterprises, is ultimately controlled by individual consumers. But most consumers may be no more interested in taking on management responsibility than stockholders are. Nor is it enough that those consumers who don’t want to be bothered don’t have to be. The very existence of enhanced powers for non-management individuals to have a say in the running of a corporation would force other consumers and stockholders to either take time to represent their own views and interests in this process or risk having people with other agendas over-ride their interests and interfere with the management of the enterprise, without these outsiders having to pay any price for being wrong."

"All general business corporation statues appear to date from well after 1800.. The Framers thus took it as a given that corporations could be comprehensively regulated in the service of the public welfare. Unlike our colleagues, they had little trouble distinguishing corporations from human beings, and when they constitutionalized the right to free speech in the First Amendment, it was the free speech of individual Americans they had in mind. The fact that corporations are different from human beings might seem to need no elaboration, except that the majority opinion almost completely elides it…. Unlike natural persons, corporations have ‘limited liability’ for their owners and managers, ‘perpetual life,’ separation of ownership and control, ‘and favorable treatment of the accumulation of assets….’ Unlike voters in U.S. elections, corporations may be foreign controlled. ...It might be added that corporations have no consciences, no beliefs, no feelings, no thoughts, no desires. Corporations help structure and facilitate the activities of human beings, to be sure, and their ‘personhood’ often serves as a useful legal fiction. But they are not themselves members of ‘We the People’ by whom and for whom our Constitution was established."

"(TH: In Justice Stevens’ dissent in Citizens United, he pointed out that corporations in their modern form didn’t even exist when the Constitution was written in 1787 and got its first ten amendments in 1791, including the First which protects free speech)"

"In addition to this immediate drowning out of noncorporate voices, there may be deleterious effects that follow soon thereafter. Corporate ‘domination’ of electioneering can generate the impression that corporations dominate our democracy. When citizens turn on their televisions and radios before an election and hear only corporate electioneering, they may lose faith in their capacity, as citizens, to influence public policy. A Government captured by corporate interests, they may come to believe, will be neither responsive to their needs nor willing to give their views a fair hearing. The predictable result is cynicism and disenchantment: an increased perception that large spenders ‘call the tune’ and a reduced ‘willingness of voters to take part in democratic governance.’ To the extent that corporations are allowed to exert undue influence in electoral races, the speech of the eventual winners of those races may also be chilled. Politicians who fear that a certain corporation can make or break their reelection chances may be cowed into silence about that corporation. On a variety of levels, unregulated corporate electioneering might diminish the ability of citizens to ‘hold officials accountable to the people,’ and disserve the goal of a public debate that is ‘uninhibited, robust, and wide-open.’"

"Everyone has the right to own property alone as well as in association with others. No one shall be arbitrarily deprived of his property."

"13 million children are hungry in America. Yet most politicians do not even talk about it... The political establishment has simply normalized the despair of millions of American children who are chronically traumatized by poverty, hunger, and all manner of violence. This is what happens when government becomes more an instrument of corporate profits then of conscience... This country shouldn’t be run like a business, it should be run like a family."

"We ought not to encourage vexatious prosecutions, which tend to throw corporations into confusion."

"The Court are bound to consider all the circumstances of the case, before they disturb the peace and quiet of any corporation."

"That corporations are the creatures of the Crown must be universally admitted."

"The situation the Lord Mayor holds is the first officer of the first city in the world in point of commerce and riches, and everything that can constitute the magnificence of a city. He is a judicial officer, and a municipal officer too, and from these combined characters there are duties incumbent upon him, which by all the ties that can bind a man to the discharge of duty, he is bound to discharge. It stands at the head of his duties, next after protecting the religion which binds us to God, to govern that civil policy which binds government together, and prevents us from being a state of anarchy and confusion."

"We ought, as far as we can by law, to support the government of all societies and corporations, especially this of the city of London; and if the mayor and aldermen should not have power to punish offenders in a summary way, then farewell the government of the city."

"Corporations cannot commit treason, nor be outlawed, nor excommunicate, for they have no souls."

"Cities are immortal."

"A corporation can have no legal existence out of the boundaries of the sovereignty by which it is created."

"It is a fiction, a shade, a nonentity, but a reality for legal purposes. A corporation aggregate is only in abstracto—it is invisible, immortal, and rests only in intendment and consideration of the law."

"States and public-sector unions may no longer extract agency fees from nonconsenting employees."

"It was recognized, and recognized fairly, that when you get large bodies of workmen together they cannot, nor is it fair to expect them to, negotiate individually against the more powerful management that controls large bodies of men; and so it was that, to secure effective freedom of contract, power was given for man to join himself to man for that very purpose of bettering his position. The trade union as we know it came into being to meet the new conditions of industry. It was essential then, and for that purpose it will continue to be essential. This country is the birthplace of that kind of combination."

"Trade unionism, like friendly societies, is a peculiarly English growth. This country is the native soil in which such democratic institutions are indigenous. They are an integral part of the country's life, and they are a great stabilizing influence. ... Watch carefully the continuous efforts that are made by the Communist Party in this country to get control of and to destroy trade unionism. They do not want to destroy it for nothing. A free trade unionism is a bulwark of popular liberty. If trade unionism were destroyed you would be a long way on the road to Communism, and via Communism to Fascism."

"Illinois owes well over $200 billion, with more than $150 billion owed to pensions and benefits of retired state workers. Tax increases, like the newly enacted and veto-overridden 32 percent increase of state income tax, or Chicago’s recent 10 percent increase of property tax, will stave off immediate pension shortfalls, but will not stop the long-term debt from growing. The second critical problem is deficit. The massive debt was created because Illinois spends more money than it collects, primarily to pay its workers. For years, political leaders in Illinois and Chicago bestowed labor benefit that they could not afford. Why? Largely because they were elected into office with the support of state workers’ unions—the same parties with whom they ended up “negotiating” salaries and pensions. As a result, Illinois is paying its state employees 26 percent more than what similar private-sector workers receive—among the biggest gaps in the country. Current leaders—Republican Governor Rauner and Chicago’s Democratic Mayor Emmanuel—are trying to put an end to this fiscal sinkhole, but with little support from other lawmakers."

"The massive labor shortage that’s rocked the U.S. since the pandemic and disrupted long-established employment relationships hasn’t had much impact on UPS, which pays its unionized drivers the highest wages in the industry. That’s helped it maintain a stable workforce and rising profits throughout the current disruptions. Meanwhile, lower-paying, nonunionized FedEx racked up $450 million in extra costs because of labor shortages. And while UPS easily beat earnings expectations and predicted a rising profit margin in the U.S. for the fourth quarter, FedEx signaled that its profit margin will fall further. The lack of workers is taking a toll on its reliability, too. FedEx’s recent on-time performance for express and ground packages has sunk to 85%, while UPS has met deadlines on 95% of those packages, according to data collected by ShipMatrix Inc. With strong package demand and delivery prices jumping more than 10%, FedEx’s struggles have left investors puzzled, says Amit Mehrotra, an analyst at Deutsche Bank. The company’s travails have laid bare some structural inefficiencies in its business model, too. Unlike UPS, FedEx operates two distinct delivery networks: one for its overnight air delivery business, which is handled by FedEx employees, and another for its ground parcel service, which uses independent contractors to make final-mile deliveries employing their own nonunion drivers."

"FedEx Ground keeps contractors small by design to avoid becoming too dependent on one company in a service area. That lowers the risk when contractors fail, which isn’t uncommon. FedEx Ground can call on other contractors to plug the hole in service, paying them extra per package to entice them to send teams to the area. Contractors spend a lot of their time recruiting drivers—turnover ranges from 30% to 60% of the workforce each year. In some cases, they poach drivers from other FedEx contractors. UPS’s richer pay package makes it easier for the company to hire part-time workers at the sorting hubs, where it also offers the incentive of moving into a delivery driver job that can eventually pay, as in Helminski’s case, almost $100,000 a year, with overtime. This creates a stable workforce at the hub and a steady pool of driver candidates whose work habits are already known to the company. FedEx’s sorting hub in Portland, Ore., is operating with only 65% of the staff needed. That forces the company to reroute packages to other facilities, incurring costs for the extra transportation and reducing the efficiency of the network, officials said on a September conference call with analysts. In total, FedEx says the ground unit is rerouting 600,000 packages a day because of labor issues. UPS does have to worry about strikes during labor contract negotiations every five years. The current contract expires in 2023. For now, UPS and its workers are doing well, says Helminski. “We’re making a good living,” he says. “We’re the gold standard.”"

"Unions do not reduce wage inequality among women."

"I consider that every workman is well advised to join a trade union. I cannot conceive how any man standing undefended against the powers that be in this world could be so foolish, if he can possibly spare the money from the maintenance of his family, not to associate himself with an organisation to protect the rights and interests of labour."

"Some economists suspect that President Franklin Roosevelt’s “New Deal” cartelization policies, which limited competition in product markets and increased labor bargaining power, kept the economy depressed after 1933. These policies included the National Industrial Recovery Act (NIRA), which suspended antitrust law and permitted collusion in some sectors provided that industry raised wages above market clearing levels and accepted collective bargaining with independent labor unions. ... The recovery from the Great Depression was weak, and was accompanied by significant increases in real wages and prices in several sectors of the economy. A successful theory of the recovery from the Depression should account for persistent low levels of consumption, investment, and employment, the high real wage, and reduced competition in the labor market. We developed a model with New Deal labor and industrial policies that can account for sectoral high wages, a distorted labor market, and depressed employment, consumption, and investment, despite rapid productivity growth.[...] New Deal labor and industrial policies did not lift the economy out of the Depression as Roosevelt had hoped. Instead, the joint policies of increasing labor’s bargaining power and linking collusion with paying high wages prevented a normal recovery by creating rents and an inefficient insider-outsider friction that raised wages significantly and restricted employment. The adoption of these industrial and trade policies not only coincided with the persistence of depression through the late 1930s, but the subsequent abandonment of these policies coincided with the strong economic recovery of the 1940s."

"In this paper, we have provided theory and evidence concerning union rent seeking and its effects on firm market value and intangible capital investment. Consistent with our hypothesis that union rent seeking can take the form of a distortionary tax on the returns to long-lived investments, we find that intangible R&D investments add relatively less to the market value of firms in more unionized industries. Firms in highly unionized industries respond by investing less intensively in R & D."

"Despite continuing certain Weimar-era social welfare programs, the Nazis proceeded to restrict their availability to "racially worthy" (non-Jewish) beneficiaries. In terms of labor, worker strikes were outlawed. Trade unions were replaced by the party-controlled German Labor Front, primarily tasked with increasing productivity, not protecting workers. In lieu of the socialist ideal of an egalitarian, worker-run state, the National Socialists erected a party-run police state whose governing structure was anti-democratic, rigidly hierarchical, and militaristic in nature. As to the redistribution of wealth, the socialist ideal "From each according to his ability, to each according to his need" was rejected in favor of a credo more on the order of "Take everything that belongs to non-Aryans and keep it for the master race." Above all, the Nazis were German white nationalists. What they stood for was the ascendancy of the "Aryan" race and the German nation, by any means necessary. Despite co-opting the name, some of the rhetoric, and even some of the precepts of socialism, Hitler and party did so with utter cynicism, and with vastly different goals. The claim that the Nazis actually were leftists or socialists in any generally accepted sense of those terms flies in the face of historical reality."

"A growing body of work--both theoretical and empirical--has emphasized that unionization may be better understood as a tax on capital rather than a tax on labor. Under this "new" view, unionization unambiguously lowers investment. Using data on union certification elections, we estimate the impact of unionization on firms' investment behavior. Employing both a standard q-model and an "investment surprises" technique, we find that union certification significantly reduces investment. We find that a winning certification election has, on average, about the same effect on investment as would a 30 percentage point increase in the corporate tax."

"The heads of the unions have degenerated so fast and so far that now in many cases they are little better than Fascist agents, whose function it is to dragoon the working masses into still deeper and more helpless slavery to the employers."

"Half a Billion Dollars. That’s how much the California Teachers Association and the powerful Service Employees International Union have spent on California politics since 2000. The unions’ return on that “investment”? A legislature totally beholden to them for political support and campaign contributions. Here’s another mind-boggling number: Half a Trillion Dollars. That’s an estimate of the unfunded public pension liabilities racked up by California’s state and municipal governments due to overly generous pay and defined benefit pension plans lavished on unionized government employees."

"When unions get higher wages for their members by restricting entry into an occupation, those higher wages are at the expense of other workers who find their opportunities reduced. When government pays its employees higher wages, those higher wages are at the expense of the taxpayer. But when workers get higher wages and better working conditions through the free market, when they get raises by firm competing with one another for the best workers, by workers competing with one another for the best jobs, those higher wages are at nobody's expense. They can only come from higher productivity, greater capital investment, more widely diffused skills. The whole pie is bigger - there's more for the worker, but there's also more for the employer, the investor, the consumer, and even the tax collector."

"There may be here and there a worker who for certain reasons unexplainable to us does not join a union of labor. That is his right. It is his legal right, no matter how morally wrong he may be. It is his legal right, and no one can or dare question his exercise of that legal right."

"We will stand by our friends and administer a stinging rebuke to men or parties who are either indifferent, negligent, or hostile, and, wherever opportunity affords, to secure the election of intelligent, honest, earnest trade unionists, with clear, unblemished, paid-up union cards in their possession."

"What is at issue is not union membership but compulsory union membership and not the right to strike but the right to compel others to strike. There is no need for any other explanation of why the British economy is decaying and the German highly prosperous. The trade unions, being politically sacrosanct, have been allowed to destroy the British economy, and since even somebody as sympathetic to labour as Lady Wootton has told us that “it is in fact the business of a union to be anti-social”, it is high time that somebody had the courage to eradicate that cancer of the British economy."

"Don't waste any time mourning — organize!"

"This paper utilizes unique survey data on labor union coverage at the firm level to examine union effects on the profitability of 705 U.S. companies during the 1970s. Market value and earnings are estimated to be about 10-15 percent lower in an average unionized company than in a nonunion company, following extensive control for firm and industry characteristics. Deleterious union effects on firm profitability are sizable throughout the 1972-80 period, but vary considerably across industries. The relatively poor profit performance of unionized companies may help explain the recent decline in U.S. union membership."

"Before everything else, the trades unions are necessary as building stones for the future economic parliament, which will be made up of chambers representing the various professions and occupations."

"I am convinced that we cannot possibly dispense with the trades unions. On the contrary, they are among the most important institutions in the economic life of the nation. Not only are they important in the sphere of social policy but also, and even more so, in the national political sphere. For when the great masses of a nation see their vital needs satisfied through a just trade unionist movement the stamina of the whole nation in its struggle for existence will be enormously reinforced thereby."

"It is probably true that business corrupts everything it touches. It corrupts politics, sports, literature, art, labor unions and so on. But business also corrupts and undermines monolithic totalitarianism."

"The Green New Deal’s focus on invest­ing in high-speed rail could mean sig­nif­i­cant poten­tial work for elec­tri­cians and rail work­ers.. . The leg­is­la­tion also calls for ​“repair­ing and upgrad­ing the infra­struc­ture in the Unit­ed States,” which means fix­ing bridges and roads, retro­fitting build­ings, and updat­ing sewage and water sys­tems. And the AFT’s green school build­ings cam­paign will need the sup­port of build­ing trades unions, like elec­tri­cians, plumbers, roofers, and boil­er­mak­ers. All of this infra­struc­ture work means more union jobs — but only if the labor move­ment acknowl­edges the true mag­ni­tude of cli­mate change and decides to play a lead­er­ship role in fight­ing it."

"Under the Supreme Court’s 1973 Enmons decision, vandalism, assault, even murder by union officials are exempt from federal anti-extortion law. As long as the violence is aimed at obtaining property for which the union can assert a “lawful claim”—for example, wage or benefit increases— the violence is deemed to be in furtherance of “legitimate” union objectives. By the Court’s peculiar logic, such violence does not count as extortion."

"In our glorious fight for civil rights, we must guard against being fooled by false slogans, such as "right to work." It is a law to rob us of our civil rights and job rights. It is supported by Southern segregationists who are trying to keep us from achieving our civil rights and our right of equal job opportunity. Its purpose is to destroy labor unions and the freedom of collective bargaining by which unions have improved wages and working conditions of everyone...Wherever these laws have been passed, wages are lower, job opportunities are fewer and there are no civil rights. We do not intend to let them do this to us. We demand this fraud be stopped. Our weapon is our vote."

"The labor movement was the principal force that transformed misery and despair into hope and progress. Out of its bold struggles, economic and social reform gave birth to unemployment insurance, old-age pensions, government relief for the destitute and, above all, new wage levels that meant not mere survival but a tolerable life. The captains of industry did not lead this transformation; they resisted it until they were overcome. When in the thirties the wave of union organization crested over the nation, it carried to secure shores not only itself but the whole society."

"Negroes in the United States read the history of labor and find it mirrors their own experience. We are confronted by powerful forces telling us to rely on the goodwill and understanding of those who profit by exploiting us. They deplore our discontent, they resent our will to organize, so that we may guarantee that humanity will prevail and equality will be exacted. They are shocked that action organizations, sit-ins, civil disobedience and protests are becoming our everyday tools, just as strikes, demonstrations and union organization became yours to insure that bargaining power genuinely existed on both sides of the table."

"Less than a century ago the laborer had no rights, little or no respect, and led a life which was socially submerged and barren....American industry organized misery into sweatshops and proclaimed the right of capital to act without restraints and without conscience. The inspiring answer to this intolerable and dehumanizing existence was economic organization through trade unions. The worker became determined not to wait for charitable impulses to grow in his employer. He constructed the means by which fairer sharing of the fruits of his toil had to be given to him or the wheels of industry, which he alone turned, would halt and wealth for no one would be available..."

"With the settlement of many of these early strikes, there was little or nothing added to the pay envelope, little or nothing for job security and a mountain of debts to pay and harsh memories to forget. Yet there was one thing that was won, one thing that was fought for as indispensable, one thing for which all the pain and sacrifice was justified--union recognition. It seemed so miniscule a victory that people outside the labor movement scorned it as in fact just a defeat. But to those who understood, union recognition meant the employer's acknowledgement of that strength, and the two meant the opportunity to fight again for further gains with united and multiplied power. As contract followed contract, the pay envelope fattened and fringe benefits and job rights grew to the mature work standards of today. All of these started with winning first union recognition."

"We examine state-level job growth following two recent recessions, those with troughs in November 1982 and March 1991. In the five years following the troughs, we assess whether variations across states in union membership and right-to-work laws affect the rate of job growth. We find evidence that links union influence to slower job growth during an economic recovery, a finding consistent with previous studies reporting that unions negatively affect average employment and employment growth."

"It ill behooves one who has supped at labor's table and who has been sheltered in labor's house to curse with equal fervor and fine impartiality both labor and its adversaries when they become locked in deadly embrace."

"The United Mine Workers and the CIO have paid cash on the barrel for every piece of legislation that we have gotten. We have the Wagner Act. The Wagner Act cost us many dollars in contributions which the United Mine Workers have made to the Roosevelt administration with the explicit understanding of a quid pro quo for labor. These contributions far exceed the notions held by the general public or the press."

"Trade unions up to a certain point have been recognised now as organs for good. They are the only means by which workmen can protect themselves from the tyranny of those who employ them. But the moment that trade unions become tyrants in their turn, they are engines for evil: they have no right to prevent people from working on any terms that they choose."

"Controlling for industry sector, firm size, and firm age, the author finds that within the manufacturing sector, union firms grew 3.7% more slowly per year than nonunion firms, and within the nonmanufacturing sector, union firms grew 3.9% more slowly than nonunion firms."

"Union officials and other CalPERS board members pursued their own political agendas, demanding, for instance, that the fund not invest in firms and countries that lacked worker-friendly labor policies. By 2011, according to a Mercer Consulting report, CalPERS had adopted 111 different policy statements on the environment, social conditions, and corporate governance, all dictating or restricting how its funds could be invested. CalPERS leaped into “social investing” at exactly the wrong time. That trend had gained currency in the 1990s with an emphasis on buying into environmentally “clean” companies. Tech firms were high on the list, so the 1990s Internet start-up boom made social investing seem like a sound financial strategy. But when CalPERS debuted its Double Bottom Line initiative in 2000—so called because it would supposedly produce both good returns and good social policy—the tech bubble had already popped. Many socially conscious investors then turned their attention to another industry that didn’t pollute: finance. One social-investing research firm named Fannie Mae the leading corporate citizen in America from 2000 through 2004. Other finance firms that attracted big cash from social investors included AIG, Citigroup, and Bank of America, according to an analysis by American Enterprise Institute adjunct fellow Jon Entine. When the market for shares of these firms imploded in 2008, so did the performance of social investors."

"The Texas chapter of one of the nation's most powerful unions filed for bankruptcy after losing a multi-million dollar lawsuit for its smear campaign against a Houston janitorial company. A jury ordered Service Employees International Union Texas, also known as SEIU District Five, to pay Professional Janitorial Service of Houston $7.8 million in September for making false claims about the company during a campaign to rally support from workers and local activists."

"Union pressure is exerted on the whole tenure profile of wages. The explicit linking of wage levels to seniority reduces incentives for worker investment in general (transferable) training."

"It’s illegal for you to use violence or the threat of violence for economic gain. It’s unlawful for you to steal someone’s identity. If you try to freeze out competition to obtain a monopoly, regulators may come down on you. If someone in your organization exposes you for wrongdoing, that whistle­blower is protected from retaliation. On the other hand, if you’re a union boss, sometimes those rules simply don’t apply. You’re exempt from many laws that apply to regular people."

"That exemption stems from the Supreme Court’s interpretation of the Anti-Racketeer­ing Act of 1943, known as the Hobbs Act. That law forbids the obstruction of interstate commerce by robbery or extortion. It’s the main federal law against extortion (economic gain through violence). Unions’ exemp­tion is rooted in the 1973 Enmons case, in which the Supreme Court ruled that unions are exempt because the law simply doesn’t apply when unions are seeking “legitimate” union objectives. The case involved three members of the International Brotherhood of Electrical Workers (IBEW) who were indicted for firing high-powered rifles at three utility company transformers. The oil that drained from one of the transformers blew up a substation. The U.S. District Court in Baton Rouge, Louisiana, dismissed the charges against the IBEW, arguing that the actions were not illegal since they were done to obtain legitimate union objectives. Writing for the 5-4 majority, Justice Potter Stewart put the onus back on Congress for creating a loophole in the Hobbs Act.[...] Thousands of violent acts have gone unpun­ished as a result of Enmons. For example, the National Institute for Labor Relations Research identified 8,799 incidents of union-related violence between 1975 and 1998. Less than 3% of these incidents resulted in convictions, according to the Institute."

"Democratic presidential hopeful Joe Biden unveiled a $2 trillion energy plan Tuesday with a heavy focus on the Green New Deal agenda... Speaking in Wilmington, Del., Biden promised a “clean energy revolution,” which he said would deliver millions of jobs... Biden detailed what he called a pro-union platform that would replace the US government’s car fleet with American-made electric vehicles... The former veep on Tuesday promised to “create millions of high-paying union jobs by building a modern infrastructure and a clean energy future” and described his vision of a US covered in 500,000 electric car charging stations and thriving factories producing green products."

"Like most organizations, labor unions have aims they cannot at­tain, make claims for deeds they never achieved, and get blamed for sins they never committed. For example, labor unions try to claim credit for raising wages. But, regardless of their claims, unions have had no more to do with the general level of wages than with the general level of the seven seas. They have, it is true, succeeded in obtaining increases for their members at the expense of nonmembers; they have de­stroyed property and done other damage to their employers; and they have thrown many of their own members into unemployment."

"Labor unions are politically in­fluential. In large measure they get increased federal activity on projects they sponsor. Their coerced and uneconomic wage hikes cause unemployment. Then they use their pressure for gov­ernment guaranteed full employ­ment which adds billions to the costs of government. It is pre­cisely this successful pressure on government that is the effective subcause of inflation. This is how labor unions cause inflation!"

"By outlawing Solidarity, a free trade organization to which an overwhelming majority of Polish workers and farmers belong, they have made it clear that they never had any intention of restoring one of the most elemental human rights—the right to belong to a free trade union."

"In 2018, unionized service workers earned a median wage of 802 dollars a week. Non-unionized service workers made on average, $261 less... almost a third less. In 2018, women who were in unions earned 21 percent more than non-unionized women. And African-Americans who were unionized earned nearly 20 percent more than African-Americans who were non-unionized."

"Wealthy corporations and their enablers have spread 5 big lies about unions in order to stop workers from organizing... Know the truth and spread the truth. Lie #1: Labor unions are bad for workers. Wrong. Unions are good for all workers – even those who are not unionized... Lie #2: Unions hurt the economy. Wrong again. When workers are unionized they can negotiate better wages, which in turn spreads the economic gains more evenly and strengthens the middle class... Lie #3: Labor unions are as powerful as big business. No way. Labor union membership in 2018 accounted for 10.5 percent of the American workforce, while large corporations account for almost three-quarters of the entire American economy... most economic gains have been going to executives and shareholders rather than workers... Lie #4: Most unionized workers are in industries like steel and auto manufacturing. Untrue... the largest part of the unionized workforce is workers in the professional and service sectors – retail, restaurant, hotel, hospital, teachers–which comprise 59% of all workers represented by a union... Lie #5: Most unionized workers are white, male, and middle-aged. Some unionized workers are, of course, but most newly-unionized workers are not... Today’s unions are growing, expanding, and boosting the wages and economic prospects of those who need them most."

"At best, a union can achieve a higher, restrictionist wage rate for its members only at the expense of lowering the wage rates of all other workers in the economy. Production efforts in the economy are also distorted. But, in addition, the wider the scope of union activity and restrictionism in the economy, the more difficult it will be for workers to shift their locations and occupations to find nonunionized havens in which to work. And more and more the tendency will be for the displaced workers to remain permanently or quasi-permanently unemployed, eager to work but unable to find nonrestricted opportunities for employment. The greater the scope of unionism, the more a permanent mass of unemployment will tend to develop. Unions try as hard as they can to plug all the "loopholes" of nonunionism, to close all the escape hatches where the dispossessed workmen can find jobs. This is termed "ending the unfair competition of nonunion, low-wage labor." A universal union control and restrictionism would mean permanent mass unemployment, growing ever greater in proportion to the degree that the union exacted its restrictions."

"“There was no real taxpayer representation in that room,” Seeling, now retired and living in a Dallas suburb, said in a recent interview. “It was all union people. The greed was overwhelming.”"

"Unions function as labor cartels. A labor cartel restricts the number of workers in a company or industry to drive up the remaining workers' wages, just as the Organization of Petroleum Exporting Countries (OPEC) attempts to cut the supply of oil to raise its price. Companies pass on those higher wages to consumers through higher prices, and often they also earn lower profits. Economic research finds that unions benefit their members but hurt consumers generally, and especially workers who are denied job opportunities."

"The average union member earns more than the average non-union worker. However, that does not mean that expanding union membership will raise wages: Few workers who join a union today get a pay raise. What explains these apparently contradictory findings? The economy has become more competitive over the past generation. Companies have less power to pass price increases on to consumers without going out of business. Consequently, unions do not negotiate higher wages for many newly organized workers. These days, unions win higher wages for employees only at companies with competitive advantages that allow them to pay higher wages, such as successful research and development (R&D) projects or capital investments. Unions effectively tax these investments by negotiating higher wages for their members, thus lowering profits. Unionized companies respond to this union tax by reducing investment. Less investment makes unionized companies less competitive."

"We are asked to permit a hundred men to go round to the house of a man who wishes to exercise the common law right in this country to sell his labour where and when he chooses, and to 'advise' him or 'peacefully persuade' him not to work. If peaceful persuasion is the real object, why are a hundred men required to do it? … Every honest man knows why trade unions insist on the right to a strong numerical picket. It is because they rely for their objects neither on peacefulness nor persuasion. Those whom they picket cannot be peacefully persuaded. They understand with great precision their own objects, and their own interests, and they are not in the least likely to be persuaded by the representatives of trade unions, with different objects and different interests. But, though arguments may never persuade them, numbers may easily intimidate them. And it is just because argument has failed, and intimidation has succeeded, that the Labour Party insists upon its right to picket unlimited in respect of numbers."

"The Conservative Party is the parent of trade unionism, just as it is the author of the Factory Acts. At every stage in the history of the nineteenth century it is to Toryism that trade unionism has looked for help and support against the oppressions of the Manchester School of liberalism, which cared nothing for the interests of the state, and regarded men as brute beasts whose labour could be bought and sold at the cheapest price, irrespective of all other considerations."

"The biggest myth about labor unions is that unions are for the workers. Unions are for unions, just as corporations are for corporations and politicians are for politicians."

"In the '20s and particularly when the Depression got underway, black construction companies in the south using black non-union labor would come up to the north and underbid on government contracts, taking them away [from white unionized workers]. And so this was very common, to the point where they passed the Davis-Bacon Act which said that on government contracts you must pay the prevailing wage. Which was translated almost invariably into the union wage."

"Many people think of labor unions as organizations to benefit workers, and think of employers who are opposed to unions as just people who don’t want to pay their employees more money. But some employers have made it a point to pay their employees more than the union wages, just to keep them from joining a union. Why would they do that, if it is just a question of not wanting to pay union wages? The Twinkies bankruptcy is a classic example of costs created by labor unions that are not confined to paychecks. The work rules imposed in union contracts required the company that makes Twinkies, which also makes Wonder Bread, to deliver these two products to stores in separate trucks. Moreover, truck drivers were not allowed to load either of these products into their trucks. And the people who did load Twinkies into trucks were not allowed to load Wonder Bread, and vice versa. All of this was obviously intended to create more jobs for the unions’ members. But the needless additional costs that these make-work rules created ended up driving the company into bankruptcy, which can cost 18,500 jobs. The union is killing the goose that laid the golden egg."

"There also is a reason labor unions are flourishing among people who work for government. No matter how much these public sector unions drive up costs, government agencies do not go out of business. They simply go back to the taxpayers for more money. Consumers in the private sector have the option of buying products and services from competing, nonunion companies — from Toyota instead of General Motors, for example, even though most Toyotas sold in America are made in America. Consumers of other products can buy things made in nonunion factories overseas. But government agencies are monopolies. You cannot get your Social Security checks from anywhere except the Social Security Administration or your driver’s license from anywhere but the DMV. Is it surprising that government employees have seen their pay go up, even during the downturn, and their pensions rise to levels undreamed of in the private sector?"

"By the way, I hope you all know about the worldwide boycott of Coca Cola company for things like murdering union organizers in Colombia. See the site killercoke.org."

"To remember the loneliness, the fear and the insecurity of men who once had to walk alone in huge factories, beside huge machines—to realize that labor unions have meant new dignity and pride to millions of our countrymen—human companionship on the job, and music in the home—to be able to see what larger pay checks mean, not to a man as an employee, but as a husband and as a father—to know these things is to understand what American labor means."

"Another cause of long-term unemployment is unionization. High union wages that exceed the competitive market rate are likely to cause job losses in the unionized sector of the economy. Also, those who lose high-wage union jobs are often reluctant to accept alternative low-wage employment. Between 1970 and 1985, for example, a state with a 20 percent unionization rate, approximately the average for the fifty states and the District of Columbia, experienced an unemployment rate that was 1.2 percentage points higher than that of a hypothetical state that had no unions. To put this in perspective, 1.2 percentage points is about 60 percent of the increase in normal unemployment between 1970 and 1985."

"When the factory came into existence... work became an indignity rather than a matter for pride. ... Organized labor has always consented to this entirely uncreative subjection."

"Two of Chicago’s four city pension funds will be bankrupt within a few years, according to Chicago Mayor Rahm Emanuel. You’d think that’s a scenario unions – the supposed champions for public-employee retirements – would want to avoid. But not in Chicago. Unions are fighting to block any kind of pension reform, effectively locking in bankruptcy for city-employee pension systems."

"While some persons may favor right-to-work laws largely on philosophical grounds (people should have the freedom to decide whether they want to belong to a union or not), the major reason I support such laws is that they seem to promote prosperity — specifically, higher incomes. Real personal income in the right-to-work states rose nearly twice as much as in other states from 1970 and 2013. To be sure, most of that reflected higher population growth in right-to-work states — there was massive in-migration to these states from the states denying workers the right to not join a union. Yet even after correcting for population growth, income per person on average rose somewhat more in the right to work jurisdictions. Capital moves to right-to-work states with a more stable labor environment, and that increases labor demand and, ultimately, income and wages."

"Naturally, we assume all bankruptcies are a bad thing. They're humiliating, they impact business, they’re difficult to recover from. The situation is far from ideal. But it’s actually not without its benefits. Take for example San Bernardino. It was running a $45 million deficit (on a $130 million budget.) But its creditors – workers and retirees – were unwilling to help out. The best the unions were able to do was to offer what they thought was a major concession: allowing newly-hired public safety workers to retire with 90 percent of their salary at the age of 55 – instead of 50, which had been the earlier deal!"

"Good companies will meet needs; great companies will create markets."

"Even people within systems don't often recognize what whole-system goal they are serving. "To make profits", most corporations would say, but that's just a rule, a necessary condition to stay in the game. What is the point of the game? To grow, to increase market share, to bring the world (customers, suppliers, regulators) more and more under the control of the corporation, so that its operations becomes ever more shielded from uncertainty."

"Over the long term, the companies of America behave more like biology than anything else. In biology, all the individuals die, and so do all the species — it's just a question of time. And that's pretty well what happens in the economy, too."

"I don't think that corporations are these big bogeymen that a lot of people paint them to be. … A corporation is a group of people, and if you want to come together for profit or nonprofit, that's your business—whatever you want to do."

"It appears to me that the atmosphere of the temple of Justice is polluted by the presence of such things as these companies."

"A company is perfectly responsible in every sense."

"It is a very lamentable state of things, but I see no help for it. The money in such cases is gone—gone by mismanagement always, often by fraud and jobbery, and by the time that such questions come before the Courts it is a mere suggestion upon whom the loss shall fall. It is rarely borne by the persons whose ignorance, mismanagement, or dishonesty has caused the loss, as they are almost always without means, and have generally speculated as badly for themselves as for those who have put them in office. I see no help for it but in that which appears to be a plant of slow growth, caution on the part of persons liable to be affected by the ruin of these societies."

"In matters where a company is not restrained by Parliament they have a right to make reasonable regulations; but it will always be a question whether their regulations are reasonable or not."

"The office of director … a man ought not to fill without qualification."

"The director is really a watch-dog, and the watch-dog has no right without the knowledge of his master to take a sop from a possible wolf."

"In their desire to check dishonest and reckless trading Courts must be careful not to put tighter fetters on companies than the Legislature has authorised."

"I do not wish in any way to depart from the principle that a wrongdoing director, whether he be morally or legally wrong, should be made liable for the highest amount which could have been obtained from the property wrongly taken by him while it was in his hands."

"Having created the conditions that make markets possible, democracy must do all the things that markets undo or cannot do."

"In and of itself, the market is not, and must not become, the place where the strong subdue the weak."

"The market does not exist in the pure state. It is shaped by the cultural configurations which define it and give it direction."

"Markets are social organizations, structured and regulated by more or less well-defined social rule systems."

"Vulgar libertarian apologists for capitalism use the term "free market" in an equivocal sense: they seem to have trouble remembering, from one moment to the next, whether they’re defending actually existing capitalism or free market principles. So we get the standard boilerplate article arguing that the rich can’t get rich at the expense of the poor, because "that’s not how the free market works"—implicitly assuming that this is a free market. When prodded, they’ll grudgingly admit that the present system is not a free market, and that it includes a lot of state intervention on behalf of the rich. But as soon as they think they can get away with it, they go right back to defending the wealth of existing corporations."

"As the most powerful state, the U.S. makes its own laws, using force and conducting economic warfare at will. It also threatens sanctions against countries that do not abide by its conveniently flexible notions of "free trade." In one important case, Washington has employed such threats with great effectiveness (and GATT approval) to force open Asian markets for U.S. tobacco exports and advertising, aimed primarily at the growing markets of women and children. The U.S. Agriculture Department has provided grants to tobacco firms to promote smoking overseas. Asian countries have attempted to conduct educational anti-smoking campaigns, but they are overwhelmed by the miracles of the market, reinforced by U.S. state power through the sanctions threat. Philip Morris, with an advertising and promotion budget of close to $9 billion in 1992, became China's largest advertiser. The effect of Reaganite sanction threats was to increase advertising and promotion of cigarette smoking (particularly U.S. brands) quite sharply in Japan, Taiwan, and South Korea, along with the use of these lethal substances. In South Korea, for example, the rate of growth in smoking more than tripled when markets for U.S. lethal drugs were opened in 1988. The Bush Administration extended the threats to Thailand, at exactly the same time that the "war on drugs" was declared; the media were kind enough to overlook the coincidence, even suppressing the outraged denunciations by the very conservative Surgeon-General. Oxford University epidemiologist Richard Peto estimates that among Chinese children under 20 today, 50 million will die of cigarette-related diseases, an achievement that ranks high even by 20th century standards."

"Big industry has brought all the people of the Earth into contact with each other, has merged all local markets into one world market, has spread civilization and progress everywhere and has thus ensured that whatever happens in civilized countries will have repercussions in all other countries. It follows that if the workers in England or France now liberate themselves, this must set off revolution in all other countries – revolutions which, sooner or later, must accomplish the liberation of their respective working class."

"By creating the world market, big industry has already brought all the peoples of the Earth, and especially the civilized peoples, into such close relation with one another that none is independent of what happens to the others. Further, it has co-ordinated the social development of the civilized countries to such an extent that, in all of them, bourgeoisie and proletariat have become the decisive classes, and the struggle between them the great struggle of the day. It follows that the communist revolution will not merely be a national phenomenon but must take place simultaneously in all civilized countries. ... It is a universal revolution and will, accordingly, have a universal range."

"Markets are interested in profits and profits only; service, quality, and general affluence are different functions altogether. The universal, democratic prosperity that Americans now look back to with such nostalgia was achieved only by a colossal reining in of markets, by the gargantuan effort of mass, popular organizations like labor unions and of the people themselves, working through a series of democratically elected governments not daunted by the myths of the market."

"If an exchange between two parties is voluntary, it will not take place unless both believe they will benefit from it. Most economic fallacies derive from the neglect of this simple insight, from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another."

"The hidden hand of the market will never work without a hidden fist. McDonald's cannot flourish without McDonnell Douglas, the designer of the F-15. And the hidden fist that keeps the world safe for Silicon Valley's technologies to flourish is called the US Army, Air Force, Navy and Marine Corps."

"RS: The question is – what is the market? Hayek's answer was: it is a real or virtual place where individuals voluntarily exchange... JG: ...That is right, in principle. And do not get me wrong – I think markets are a good thing, they have created peace, freedom and prosperity. Yet, there is no such thing as "the" market. There are, in fact, always different markets in different countries and cultures. They change in the course of history, through wars, through revolutions and, today, through geopolitical competition."

"Faith in natural order and market efficiency forecloses a full normative assessment of market outcomes. ... It effectively depoliticizes the market itself and its outcomes. It is only when the illusion of natural order is lifted that a real problem arises: that of the justice of the organizational rules and their distributional consequences."

"If by free market one means a market that is autonomous and spontaneous, free from political controls, then there is no such thing as a free market at all. It is simply a myth."

"I'm often sympathetic to people who talk about the theology of the market, the theology of monetary policy, because once you've mastered the basic notions of competition and all the intricate mechanisms, and interconnectedness of market operations around the world with [the] Internet and everything else, once you've mastered that you see there is no other way to keep order and dynamism among scattered individuals and tribes except through an open market system, law of contracts, strong laws and enforcement of competition and of contracts and monetary stability. Once you've got that, it's a dominant religion, almost. I have said -- and it's offended some of my other Christian friends, they have said this is awful, sacrilege -- I have said that the market is almost god-ordained. The laws of competition, the ordinary laws of supply and demand are the nearest you have in the social sciences to the laws of motion and the laws of gravity in the natural sciences. [Because] there's competition and markets you can tell that [if] you act in a certain way, you will blow up the currency. We knew that inflation was going to happen not [by] listening to what politicians said, but watching their hands, when their hands moved towards the till, and [we] could see that 18 months or two years before monetary expansion led to inflation. Friedman lay all this down in very clear and emphatic terms."

"The market is neutral and relativistic; it does not inquire as to the origin or validity of the desires it responds to. ... We do not think we require discussions about our use of resources but are willing simply to sum up dollar-backed private desires. There is a rather good correspondence between these characteristics of the market and the relativistic, subjectivistic ways of thinking about ethical issues."

"And today? Does the competitive market mechanism still operate? This is not a question to which it is possible to give a simple answer. The nature of the market has changed vastly since the eighteenth century. We no longer live in a world of atomistic competition in which no man can afford to swim against the current. Today’s market mechanism is characterized by the huge size of its participants: giant corporations and strong labor unions obviously do not behave as if they were individual proprietors and workers. Their very bulk enables them to stand out against the pressures of competition, to disregard price signals, and to consider what their self-interest shall be in the long run rather than in the immediate press of each day’s buying and selling. That these factors have weakened the guiding function of the market mechanism is apparent. But for all the attributes of modern-day economic society, the great forces of self-interest and competition, however watered down or hedged about, still provide basic rules of behavior that no participant in a market system can afford to disregard entirely. Although the world in which we live is not that of Adam Smith, the laws of the market can still be discerned if we study its operations."

"Modernized poverty appears when the intensity of market dependence reaches a certain threshold. Subjectively, it is the experience of frustrating affluence which occurs in persons mutilated by their overwhelming reliance on the riches of industrial productivity. Simply, it deprives those affected by it of their freedom and power to act autonomously, to live creatively; it confines them to survival through being plugged into market relations. And precisely because this new impotence is so deeply experienced, it is with difficulty expressed. We are the witnesses of a barely perceptible transformation in ordinary language by which verbs that formerly designated satisfying actions are replaced by nouns that denote packages designed for passive consumption only."

"The peculiarly modern inability to use personal endowments, communal life, and environmental resources in an autonomous way infects every aspect of life where a professionally engineered commodity has succeeded in replacing a culturally shaped use-value. The opportunity to experience personal and social satisfaction outside the market is thus destroyed."

"The market, over time, is its own worst enemy. Indeed, the valiant and ultimately successful efforts of New Dealers to set American capitalism back on its feet were most vigorously opposed by many of their eventual beneficiaries. But although market failure may be catastrophic, market success is just as politically dangerous. The task of the state is not just to pick up the pieces when an under-regulated economy bursts. It is also to contain the effects of immoderate gains. After all, many Western industrial countries were doing extraordinarily well in the era of Edwardian social reform: in the aggregate, they were growing fast and wealth was multiplying. But the proceeds were ill-distributed and it was this more than anything which led to calls for reform and regulation."

"It is well known that there have been many market failures and corrupt behavior under the market system unless there is strong political oversight and leadership. The effects of such excesses are fairly evident in many respects, but the most serious is in the resulting skewness of the income and wealth distributions both within and among national economies."

"Good companies will meet needs; great companies will create markets."

"I believe that one ought to have only as much market efficiency as one needs, because everything that we value in human life is within the realm of inefficiency — love, family, attachment, community, culture, old habits, comfortable old shoes."

"A market is a group of buyers and sellers of a particular good or service. The buyers as a group determine the demand for the product, and the sellers as a group determine the supply of the product. Markets take many forms. Some markets are highly organized, such as the markets for many agricultural commodities. In these markets, buyers and sellers meet at a specific time and place, where an auctioneer helps set prices and arrange sales. More often, markets are less organized. For example, consider the market for ice cream in a particular town. […] Nonetheless, these consumers and producers of ice cream are closely connected."

"If the individual were no longer compelled to prove himself on the market, as a free economic subject, the disappearance of this kind of freedom would be one of the greatest achievements of civilization. The technological processes of mechanization and standardization might release individual energy into a yet uncharted realm of freedom beyond necessity. The very structure of human existence would be altered; the individual would be liberated from the work world's imposing upon him alien needs and alien possibilities. The individual would be free to exert autonomy over a life that would be his own."

"The bourgeoisie, wherever it has got the upper hand, has put an end to all feudal, patriarchal, idyllic relations. It has pitilessly torn asunder the motley feudal ties that bound man to his “natural superiors,” and has left no other bond between man and man than naked self-interest, than callous “cash payment.” It has drowned the most heavenly ecstasies of religious fervor, of chivalrous enthusiasm, of philistine sentimentalism, in the icy water of egotistical calculation. It has resolved personal worth into exchange value, and in place of the numberless indefeasible chartered freedoms, has set up that single, unconscionable freedom—Free Trade."

"... Many markets get down to two or three big competitors — or five or six. And in some of those markets, nobody makes any money to speak of. But in others, everybody does very well. Over the years, we've tried to figure out why the competition in some markets gets sort of rational from the investor's point of view so that the shareholders do well, and in other markets, there's destructive competition that destroys shareholder wealth."

"The code-speak phrase "limit the influence of market forces" really means to arrange things OTHERWISE by leaving everything to free-market equilibration. A simple illustration is where a state wishes simply to defend its existence. This may call for various concepts of national self-sufficiency so that, for example, Japan may choose not to become entirely an importer of rice!"

"What also goes missing, as a result of adopting states and markets rather than social relations of class and class power as the basic units of analysis, is any pattern of determination regarding state action. The Marxist theory of the state was not only challenging pluralist and social democratic claims that the modern state had freed itself from the dynamics of capitalist accumulation, but was precisely trying to enrich the tools of class analysis so as to understand the (varying) patterns of determination of capitalist state structure and action."

"If a Martian were asked to pick the most efficient and humane economic systems on earth, it would certainly not choose the countries which rely most on markets. The United States is a stagnant economy in which real wages have been constant for more than a decade and the real income of the bottom 40 percent of the population declined. It is an inhumane society in which 11.5 percent of the population, some 32 million people, including 20 percent of all children, live in absolute poverty. It is the oldest democracy on earth but also one with the lowest voting rates among democracies and the highest per capita prison population in the world. The fastest developing countries in the world today are among those where the state pursues active industrial and trade policies; the few countries in the world in which almost no one is poor today are those in which the state has been engaged in massive social welfare and labor market policies."

"Are people like market who live as humans when they’re alone but live as great complexity when they’re in groups?"

"Government doesn’t "intrude" on the "free market." It creates the market. ... Those who argue for "less government" area really arguing for a different government—often one that favors them or their patrons."

"This new era of liberal governance saw a fourth pillar of political authority join the old tripartite structure of democratic rule as the institutions of the market took their place alongside parliaments, the executive branch, and the judiciary. As the postwar institutions of democracy were challenged, new ones were found to replace them, and new—often more conservative—norms came to transform the way they actually worked. Actually existing democracy was overhauled; and long before the decade was out the reinvention of the West was underway. Critically, the fall of communism between 1989 and 1991 represented a denouement to this process, rather than the beginning it is usually taken for; the now liberated countries of the East being swept up into the ongoing history of liberal reinvention in the West. Fatefully, it also provided Western political liberalism within opportunity not only to overlook the difficulties already apparent in the liberal democratic consensus, but in many ways to intensify their effect."

"The time to buy is when there's blood in the streets, even if the blood is your own."

"Everyone notices how much the government does to control economic activity—tariff legislation, pure-food laws, utility and railroad regulations, minimum-wage regulations, fair-labor-practice acts, social security, price ceilings and floors, public works; national defense, national and local taxation, police protection and judicial redress, zoning ordinances, municipal water or gas works, etc. What goes unnoted is how much of economic life goes on without direct government intervention. Hundreds of thousands of commodities are produced by millions of people more or less at their own volition without central direction or master plan. […] This alone is convincing proof that a competitive system of markets and prices—whatever else it may be, however imperfectly it may function—is not a system of chaos and anarchy. There is in it a certain order and orderliness. It works. It functions. Without intelligence it solves one of the most complex problems imaginable, involving thousands of unknown variables and relations. Nobody designed it. Like Topsy, it just growed; and like human nature, it is changing; but at least it meets the first test of any social organization—it is able to survive."

"A market economy is an elaborate mechanism for coordinating people, activities, and businesses through a system of prices and markets. It is a communication device for pooling the knowledge and actions of billions of diverse individuals. Without central intelligence or computation, it solves problems of production and distribution involving billions of unknown variables and relations, problems that are far beyond the reach of even today’s fastest supercomputer. Nobody designed the market, yet it functions remarkably well. In a market economy, no single individual or organization is responsible for production, consumption, distribution, or pricing."

"Like a farmer using a carrot and a stick to coax a donkey forward, the market system deals out profits and losses to induce firms to produce desired goods efficiently."

"Extreme concentration of economic and political power."

"None, because "markets" are about recognizing that information is dispersed in all social systems, and that the problem of society is to find, devise and discover institutions that incentivize and enable people to make the right decisions without anyone having to tell them what to do. The idea that market forces should be limited stems from a fundamental error in beliefs about markets. This is the wrong question."

"In the advanced economies, I would say: To avoid mass unemployment, poverty and widening inequality."

"The collapse of the global marketplace would be a traumatic event with unimaginable consequences. Yet I find it easier to imagine than the continuation of the present regime."

"Economists' usual list begins with distribution of income. There is no reason to believe that the distribution of income that emerges out of market processes is desirable or acceptable. Unbridled market forces without any role of government might lead to a large number of people living under subsistence. This is an area for government to do something. We know that unbridled economic forces can lead to big booms and big recessions. We need to do something about that. We know that a market can lead to pollution -- and there's an important role for government there. We know that there will be under-investment in public goods. As we think about the innovation economy, we should remember that most of the innovation in the private sector is based on research financed by the government, such as its role in developing the Internet."

"It is above all the impersonal and economically rationalized (but for this very reason ethically irrational) character of purely commercial relationships that evokes the suspicion, never clearly expressed but all the more strongly felt, of ethical religions. For every purely personal relationship of man to man, of whatever sort and even including complete enslavement, may be subjected to ethical requirements and ethically regulated. This is true because the structures of these relationships depend upon the individual wills of the participants, leaving room in such relations for manifestations of the virtue of charity. But this is not the situation in the realm of economically rationalised relationships, where personal control is exercised in inverse ratio to the degree of rational differentiation of the economic structure."

"[ Services are] activities, benefits and satisfactions which are offered for sale or are provided in connection with the sale of goods."

"Service(s) mean,"

"# Service products. such as a bank loan or home security, that are intangible, or at least substantially so. If totally intangible, they are exchanged directly from producer to user, cannot be transported or stored, and are almost instantly perishable. Service products are often difficult to identify, because they come into existence at the same time they are bought and consumed. They comprise intangible elements that are inseparable; they usually involve customer participation in some important way; they cannot be sold in the sense of ownership transfer; and they have no title. Today, however, most products are partly tangible and partly intangible, and the dominant form is used to classify them as either goods or services (all are products). These common, hybrid forms, whatever they are called, may or may not have the attributes just given for totally intangible services."

"# Services, as a term, is also used to describe activities performed by sellers and others that accompany the sale of a product and aid in its exchange or its utilization (e.g., shoe fitting, financing, an 800 number). Such services are either presale or post-sale and supplement the product, not comprise it. If performed during sale, they are considered to be intangible parts of the product. The American Marketing Association defines services as - “Activities, benefits and satisfactions which are offered for sale or are provided in connection with the sale of goods."

"Services marketing is nothing but application of traditional marketing philosophies to the service sector with changes wherever required."

"Services are going to move in this decade to being the front edge of the industry."

"Today, the field of services marketing is thriving both in terms of academic research and in the number of services marketing courses taught throughout the world. Services marketing, which was once thought subordinate to goods marketing now considered by prominent scholars to be “THE” dominant force in marketing."

"Greed and fear of scarcity are in fact being continuously created and amplified as a direct result of the kind of money we are using. For example, we can produce more than enough food to feed everybody, and there is definitely enough work for everybody in the world, but there is clearly not enough money to pay for it all. The scarcity is in our national currencies. In fact, the job of central banks is to create and maintain that currency scarcity. The direct consequence is that we have to fight with each other in order to survive."

"Local currency creates work, and I make a distinction between work and jobs. A job is what you do for a living; work is what you do because you like to do it. I expect jobs to increasingly become obsolete, but there is still an almost infinite amount of fascinating work to be done... What's nice about local currency is that when people create their own money, they don't need to build in a scarcity factor. And they don't need to get currency from elsewhere in order to have a means of making an exchange with a neighbor. Edgar Cahn's Time Dollars are a classical example... As soon as you have an agreement between two people about a transaction using Time Dollars, they literally create the necessary "money" in the process; there's no scarcity of money. That does not mean there's an infinite amount of this currency, either; you cannot give me 500,000 hours - nobody has 500,000 hours to give. So there's a ceiling on it, yes, but there's no artificial scarcity. Instead of pitting people against each other, the system actually helps them cooperate."

"All this converges into an extraordinary opportunity to combine the hardware of our technologies of abundance and the software of archetypal shifts. Such a combination has never been available at this scale or at this speed: it enables us to consciously design money to work for us, instead of us for it...These objectives are in our grasp within less than one generation's time. Whether we materialize them or not will depend on our capacity to cooperate with each other to consciously reinvent our money."

"So let me put this plainly, in terms any American taxpayer can understand: Would you rather switch to dollar coins, or would you rather have your taxes increased by $183.3 million to pay the price of nostalgia?"

"In modern society, currency notes usually display religious images, revered ancestors and corporate totems."

"Bitcoin is meant to be this wonderful freeing thing. It’s a load of old nonsense; think of the power it takes to drive, to replicate, all those transactions globally. I just think it’s crazy, on energy usage alone."

"Bitcoin may be the TCP/IP of money. This is a statement that highlights the transformative potential of Bitcoin Price in the financial world. Just as TCP/IP laid the foundation for the internet's widespread adoption, Bitcoin's underlying blockchain technology has the potential to revolutionize the global financial system. With its decentralized, secure, and transparent nature, Bitcoin has opened doors to a new era of digital finance, challenging traditional banking systems and offering greater financial inclusion for individuals worldwide. As more industries recognize its value, Bitcoin's impact on the world of money is akin to what TCP/IP achieved for the world of communication and information exchange."

"I knew there would be a question on Bitcoin or cryptos ... I've watched these politicians dodge questions all the time ... and I've always found it kind of disgusting ... But, the truth is — I'm going to dodge that question — because we've probably got hundreds of thousands people watching this that own Bitcoin — and we've probably got two people that are short. So we've got a choice of making four hundred thousand people mad at us and unhappy ... or making two people happy. And, that's just a dumb equation. ... We have a governor one time in Nebraska .. long time ago .. he would get a tough question about property taxes .. or what should we do about schools ... and he'd look right at the person and say, "I'm all right on that one!" And he'd just walk off. Well, I'm all right on that one and we'll see how Charlie is."

"[bitcoin is] probably rat poison squared."

"it doesn't produce anything, [If] you offer me 1% of all the apartment houses in the country and you want [...] $25 billion, I'll write you a check, it's very simple. Now if you told me you own all of the bitcoin in the world and you offered it to me for $25 I wouldn't take it because what would I do with it? I'd have to sell it back to you one way or another. It isn't going to do anything. The apartments are going to produce rent and the farms are going to produce food."

"I've always been deeply opposed to crypto, bitcoin, etc. You pointed out the only true use case for it is criminals, drug traffickers, money laundering, tax avoidance. .... If I was the government, I’d close it down."

"Bitcoin is getting there. But it’s not there yet. When it gets there, expect governments to panic and society to be reshaped into something where governments cannot rely on taxing income nor wealth for running their operations."

"Bitcoin represents a significant threat to the currency domination of the USA, which is the only thing propping up the nation’s status as a worldwide superpower."

"I think it's [Bitcoin] a technical tour de force, but that's an area where governments are gonna maintain a dominant role."

"I'm a big fan of Bitcoin."

"It will be everywhere and the world will have to readjust. World governments will have to readjust."

"In my life, I try and avoid things that are stupid and evil and make me look bad in comparison to somebody else – and bitcoin does all three"

"I understand the political ramifications of [bitcoin] and I think that government should stay out of them and they should be perfectly legal."

"Having alternative currencies is great, right, because, historically, government's had a monopoly on currency. … At the end of the day, why should only politicians—either directly or indirectly—control the currency? We can reduce transaction cost, provide an alternative, and—look, I don't know whether it'll be Bitcoin or not—but I think the concept of digital currencies is here to stay, and the fact that a politician would write to try to ban them in their infancy is just the wrong way to go about it. Let the market determine whether there's any value there or not. … If people are saying, "Look, we gotta ban Bitcoin because it's somewhat anonymous and anonymous transactions can occur," or "because it's possible for criminals to use it," all of those arguments can be used to say, "Just ban dollars." … The government doesn't need to "treat" it [Bitcoin] at all. … The government policy should be completely agnostic about what unit of exchange is used."

"Ethereum has vast potential, whereas Bitcoin won't ever do anything well beyond implementing a currency."

"Bitcoin is the beginning of something great: a currency without a government, something necessary and imperative."

"I think there is a 20% chance that Bitcoin will become a huge, worldwide success."

"We have elected to put our money and faith in a mathematical framework that is free of politics and human error"

"planet-incinerating Ponzi grifters"

"Accounting for the most part, remains a legalistic and traditional practice, almost immune to self-criticism by scientific methods."

"It’s simply to say that managers and investors alike must understand that accounting numbers are the beginning, not the end, of business valuation."

"Over the years, Charlie [Munger, Berkshire Hathaway Vice Chairman] and I have observed many accounting-based frauds of staggering size. Few of the perpetrators have been punished; many have not even been censured. It has been far safer to steal large sums with pen than small sums with a gun."

"The swift victory of the railway over the waterway resulted from organizational as well as technological innovation. Technology made possible fast, all-weather transportation; but safe, regular, reliable movement of goods and passengers, as well as the continuing maintenance and repair of locomotives, rolling stock, and track, roadbed, stations, roundhouses and other equipment, required the creation of a sizable administrative organization. It meant the employment of an administrative command of middle and top executives to monitor, evaluate, and coordinate the work of managers responsible for the day-to-day operations. It meant, too, the formulation of brand new types of internal administrative procedures and accounting and statistical controls. Hence, the operational requirements of the railroads demanded the creation of the first administrative hierarchies in American business."

"… without idealism, politics becomes a form of accounting, a management of purely material interests."

"The accounts of money, supplies and provisions should then be considered. The overseer should report what wine and oil has been sold, what price he got, what is on hand, and what remains for sale. Security should be taken for such accounts as ought to be secured. All other unsettled matters should be agreed upon. If any thing is needed for the coming year, it should be bought; every thing which is not needed should be sold. Whatever there is for lease should be leased."

"Accounting reveals the state of the business. It is a kind of thermometer of its condition and its health. One must consult it continually. Every employee in the enterprise, from the lowest up to the Director, must know the results for that part of the service for which he is responsible."

"Si inaequalibus aequalia addas, omnia erunt inequalia."

"The problem is not that this optimistic view is wrong. By economic accounting, the optimistic view is mostly right."

"There are only two things as complicated as insurance accounting and I have no idea what they are."

"These experiences are not 'religious' in the ordinary sense. They are natural, and can be studied naturally. They are not 'ineffable' in the sense the sense of incommunicable by language. Maslow also came to believe that they are far commoner than one might expect, that many people tend to suppress them, to ignore them, and certain people seem actually afraid of them, as if they were somehow feminine, illogical, dangerous. 'One sees such attitudes more often in engineers, in mathematicians, in analytic philosophers, in book keepers and accountants, and generally in obsessional people'. The tends to be a kind of bubbling-over of delight, a moment of pure happiness. 'For instance, a young mother scurrying around her kitchen and getting breakfast for her husband and young children. The sun was streaming in, the children clean and nicely dressed, were chattering as they ate. The husband was casually playing with the children: but as she looked at them she was suddenly so overwhelmed with their beauty and her great love for them, and her feeling of good fortune, that she went into a peak experience . . ."

"The original form of trade was barter trade, defined as the direct exchange of goods and services for other goods and services."

"Almost all of our relationships begin and most of them continue as forms of mutual exploitation, a mental or physical barter, to be terminated when one or both parties run out of goods."

"Organisms sip energy, because they have to work or barter for every single bit that they get."

"I utter in words my thanks to the Ruler of all, the King of Glory, the everlasting Lord, for the treasures which I here gaze upon, in that I have been allowed to win such things for my people before my day of death! Now that I have given my old life in barter for the hoard of treasure, do ye henceforth supply the people's needs, — I may stay here no longer. Bid the war-veterans raise a splendid barrow after the funeral fire, on a projection by the sea, which shall tower high on Hronesness as a memorial for my people, so that seafarers who urge their tall ships from afar over the spray of ocean shall thereafter call it Beowulf's barrow."

"All exchange stimulates productive activity, whether exchange by gift, gambling, barter, or money transaction."

"All government, indeed every human benefit and enjoyment, every virtue, and every prudent act, is founded on compromise and barter."

"And the foregoing of possessions for which others barter the last possibility of freedom will become easy."

"I can smile with pity at the infidel whose vanity makes him dream that I should barter such a blessing for the few subtleties from the school of the cold-blooded sophists."

"It is my right to be uncommon. For I do not choose to be a common man, If I can, I seek opportunity. I do not wish to be a kept citizen, humbled and dulled by having the government look after me. I choose to take the calculated risk, to dream, to build, to fail or succeed. I choose not to barter incentive for a dole, I prefer the challenges of life to a guaranteed existence, the thrill of fulfillment to the state calm of Utopia. I will not trade my freedom for beneficence nor my dignity for a handout."

"It is a clear truth that those who every day barter away other men's liberty will soon care little for their own."

"I confidently predict the collapse of capitalism and the beginning of history. Something will go wrong in the machinery that converts money into money, the banking system will collapse totally, and we will be left having to barter to stay alive. Those who can dig in their garden will have a better chance than the rest. I'll be all right I've got a few veg."

"The bias against Israel has been institutionalized for 50 years, so to expect a miracle in 18 months is having unrealistic expectations. We should welcome the progress but realize that there is a long way to go, and Israel still has to bargain and barter to be recognized the way any other nation is."

"They knew too well that he who accepts a truth because of the bribe, will soon barter it away to a higher bidder."

"With all his learning and all his lore; And the Judge would have bartered Maud's fair face For more refinement and social..."

"Chavez instituted a system of barter trade with Cuba which sent doctors to Venezuela in return for oil."

"This I know - if all men should take their troubles to the market to barter with their neighbors, not one, when he had seen the troubles of other men, but would be glad to carry his own home again."

"It recognizes charity and communal enterprises as voluntary versions of this same ethic. Such a system would be straight barter, except for the widely felt need for a division of labor in which men, voluntarily, accept value tokens such as cash."

"With the breakdown of money economy the practice of international barter is becoming prevalent."

"That for this We'll make a trade called "barter" I'll give you this for that That for this We'll have it made with without money there..."

"They stoop to pick up golden apples dropped from the tree of industry, and to barter truth, love, and honour for traffic in wool, beetroot-sugar, and potato spirits."

"The dynamics of the economic exchange in capitalism are unique. In a barter system of economic activity a producer may grow a pound of potatoes and barter them for an equivalent amount ..."

"You may swell every expense, accumulate every assistance you can buy or borrow, traffic and barter with every little pitiful German prince that sells and sends his subjects to the shambles of a foreign prince ; your efforts are forever vain and impotent."

"William Pitt, 1st Earl of Chatham]], in George Bancroft History of the United States of America: From the Discovery of the ..., Volume 9, Little, Brown, 1875, p. 477"

"Say to My servants who believe that they should keep up prayer and spend out of what We have given them secretly and openly before the coming of the day in which there shall be no bartering nor mutual befriending. (Abraham 14.31)"

"O you who believe when you deal with each other in contracting a debt for a fixed time, then write it down and let a scribe write it down between you with fairness and the scribe should not refuse to write as Allah has taught him, so he should write and let him who owes the debt dictate, and he should be careful of (his duty to) Allah, his Lord, and not diminish anything from it but if he who owes the debt is unsound in understanding, or weak, or (if) he is not able to dictate himself, let his guardian dictate with fairness and call in to witness from among your men two witnesses but if there are not two men, then one man and two women from among those whom you choose to be witnesses, so that if one of the two errs, the second of the two may remind the other and the witnesses should not refuse when they are summoned and be not averse to writing it (whether it is) small or large, with the time of its falling due this is more equitable in the sight of Allah and assures greater accuracy in testimony, and the nearest (way) that you may not entertain doubts (afterwards), except when it is ready merchandise which you give and take among yourselves from hand to hand, then there is no blame on you in not writing it down and have witnesses when you barter with one another, and let no harm be done to the scribe or to the witness and if you do (it) then surely it will be a transgression in you, and be careful of (your duty) to Allah, Allah teaches you, and Allah knows all things."

"We are not going to toy with our religion or any other. Nor are we going to barter. We are here to extend our hands to build peace and harmony."

"Our individuality is all, all, that we have. There are those who barter it for security, those who repress it for what they believe is the betterment of the whole society, but blessed in the twinkle of the morning star is the one who nurtures it and rides it in, in grace and love and wit, from peculiar station to peculiar station along life's bittersweet route."

"It is my right to be uncommon. I do not wish to be a kept citizen, humbled and dulled by having the state look after me. I want to take the calculated risk to dream and to build, to fail and to succeed. I refuse to barter incentive for a dole. I prefer the challenges of life to the guaranteed existence the thrill of fulfillment to the stole calm of utopia. I will not trade freedom for beneficence nor my dignity for a handout. It is my heritage to stand erect, proud, and unafraid to think and act for myself enjoy the benefits of my creations and to face the world boldly and say: With god’s help, this I have done."

"She does not care the least what men may say, by way of trade and barter, that she is worth. Her worth in her own scales."

"Such happiness one wouldn't barter; Yet, oh, do you never regret The Springtide, the roses, Montmartre, Youth, poverty, love and -- Babette?"

"The propensity to truck, barter and exchange one thing for another … is common to all men, and to be found in no other Race race of animals."

"BARTER Life has loveliness to sell— All beautiful and splendid things, Blue waves whitened on a cliff, Climbing fire that sways and sings, And children's faces looking up Holding wonder like a cup. Life has loveliness to sell - Music has a curve of gold, Scent of pine trees in the rain, Eyes that love you, arms that hold, And for your spirit’s still delight, Holy thoughts that star the night. Spend all you have for loveliness, Buy it and never count the cost. For one while singing hour of peace Count many a year of strife well lost, And for a breath of ecstasy Give all you have been or could be."

"The most simple of all trade, is that which is carried on by bartering the necessary articles of subsistence...draw from it his food, and the surplus will be the object of barter: he will give this in exchange to any one who will supply his other wants... and the more free hands are required, the more surplus food must be produced by additional labour, to supply their demand."

"If my love is without sacrifice, it is selfish. Such a love is barter, for there is exchange of love and devotion in return for something. It is conditional love."

"I want to take the calculated risk; to dream and to build, to fail and to succeed. I refuse to barter incentive for a dole. I prefer the challenges of life to the guaranteed existence; the thrill of fulfillment to the stale calm of utopia"

"In a basic agricultural society, it's easy enough to swap five chickens for a new dress or to pay a schoolteacher with a goat and three sacks of rice. Barter works less well in a more advanced economy. The logistical challenges of using chickens to buy books on Amazon.com would be formidable."

"when we see a woman bartering her beauty for gold, we look upon such a one as no other than a common prostitute; but she who rewards the passion of some worthy youth with it, gains at the same time our approbation and esteem."

"An intellectual hatred is the worst, So let her think opinions are accursed. Have I not seen the loveliest woman born Out of the mouth of Plenty's horn, Because of her opinionated mind Barter that horn and every good By quiet natures understood For an old bellows full of angry wind?"

"Have I not seen the loveliest woman born Out of mouth of Plenty's horn, Because of her opinionated mind Barter that horn and every good By quiet natures understood For an old bellows full of angry wind?"

"Should have to pay, For the sins of the father so I barter my tomorrows against my yesterday’s In hopes that she will be OK."

"It seems almost incredible, whatever their origin, that remedies of so offensive a character as many of those above given can still retain a place even in the rudest traditional pharmacopoeia, but there seems to be in the uneducated human mind a sort of reverence for or faith in that which is in itself disagreeable or repulsive. This idea apparently rules in- stead of rational judgment in the selection of many popular household remedies in the shape of oils of most loathsome deriva- tion, such as " skunk-oil," " angle-worm oil " (made by slowly rendering earth-worms in the sun), " snake-oil " of various kinds, etc. George Borrow, in that rare idyl of vagabondage, " Lavengro," tells of various encounters with an old herbalist who always car- ried on his back a stout leathern bag, into which he gathered not simples but vipers, whose oil he extracted for medicinal purposes. The faith of this wandering English mediciner and his numerous customers of half a century ago in the viper-oil is quite equaled to-day by that of American frontiersmen in the peculiar virtues of rattlesnake-oil. It is just possible that subtle remedial powers do exist in some of these oils, but it is not easy to ascertain why lard or olive-oil might not take the place of these disgusting un-guents."

"Numerous supplement products have emerged in the market in the last ten years. They range from vitamins and minerals to herbals and hormones. This boom has created an uncertain situation as to the quality and safety of dietary supplements. According to Bruce Silverglade from the Center for Science in the Public Interest, 'the challenge for most consumers is to determine which supplements are beneficial and which are nothing more than 21st-century snake oil--or even dangerous.' That is why this legislation includes authorization of funds for physician and consumer education programs regarding adverse reactions."

"[Jack White] is the showman—the brassy frontman and the snake-oil trader."

"The powers of the placebo are so strong that it may be morally wrong to call homeopathy a lie because the moment you say it then a placebo falls to pieces and loses its power. I am a great believer in double-blind random testing, which is the basis of all drug testing. People still insist on things like holistic healing and things that have no real basis in evidence because they want it to be true—it’s as simple as that. If you’re dying of cancer or very, very ill, then you’ll cling to a straw. I feel pretty dark thoughts about the kind of people who throw straws at drowning, dying men and women, and I’m sure most of us would agree it’s a pretty lousy thing to do. Some of these people perhaps believe in the snake oil they sell or allow themselves to believe in it. That’s why James Randi is so good, because he knows what magicians know: if you do a card trick on someone, they will report that it was unbelievable, they describe the effect the magician wanted, and they miss out all the steps in between that seemed irrelevant because the magician made them irrelevant, so they didn’t notice them. People will swear that a clairvoyant mentioned the name of their aunt from nowhere, and they will be astonished if you then play a recording that shows that thirty-two names were said before the aunt’s name, none of which had any effect on them. That’s because they wanted to hear their aunt’s name; they wanted the trick to work, so they forgot all the failures in the same way as people forget all their dreams that have no relevance to their lives, but they mark when they dream of someone they haven’t met for ages that they see the next day. I would be astounded if everyone had coincidences like that—yet people say that is somehow closed-minded of me!"

"The shamans are forever yacking about their snake-oil "miracles." I prefer the Real McCoy — a pregnant woman."

"Richard Kunin visited San Francisco’s Chinatown to buy such snake oil and analyze it. According to his 1989 analysis published in the Western Journal of Medicine, Chinese water-snake oil contains 20 percent eicosapentaenoic acid (EPA), one of the two types of omega-3 fatty acids most readily used by our bodies. Salmon, one of the most popular food sources of omega-3s, contains a maximum of 18 percent EPA, lower than that of snake oil."

"Mr. Speaker, there is an old trick to hawking snake oil. First raise the fear. Then sell to it. That is exactly what the big- union, Washington-based labor bosses are trying to do with their latest advertising campaign of fear and blatant disinformation."

"This poet is now, most of the time, an elder statesman like Baruch or Smuts, full of complacent wisdom and cast-iron whimsy. But of course there was always a good deal of this in the official rôle that Frost created for himself; one imagines Yeats saying about Frost, as Sarah Bernhardt said about Nijinsky: “I fear, I greatly fear, that I have just seen the greatest actor in the world.” Sometimes it is this public figure, this official rôle — the Only Genuine Robert Frost in Captivity — that writes the poems, and not the poet himself; and then one gets a self-made man’s political editorials, full of cracker-box philosophizing, almanac joke-cracking — of a snake-oil salesman’s mysticism; one gets the public figure’s relishing consciousness of himself, an astonishing constriction of imagination and sympathy; one gets sentimentality and whimsicality; an arch complacency, a complacent archness; and one gets Homely Wisdom till the cows come home."

"Snake oil analyzed shows that it is a bit more about enhydris chinensis, the Chinese water snake. Apparently, it is a rich source of Eicosapentaenoic acid (EPA), an omega-3 fatty acid, which the human body converts into natural pain killers, such as series 3 Prostaglandins."

"In 1917, the U.S. government actually tested one of the bogus potions sold by Clark Stanley, the “Rattlesnake King,” and called Stanley's Snake Oil. it contained no EPA at all and consisted mostly of mineral oil and red pepper (with a tiny bit of beef fat, camphor, and turpentine thrown in), apparently similar to ingredients found in modern day capcaicin cream that is alleged to provide temporary arthritis relief. Interestingly, genuine snake oil is still sold in traditional Chinese pharmacy stores. A sample brought in San Francisco's Chinatown in 1989 was found to contain 75% of carrier material, such as camphor, and 25% of oil from Chinese water snakes, and 20% of that oil, in turn, was EPA."

"In the Middle Ages people took potions for their ailments. In the 19th century they took snake oil. Citizens of today’s shiny, technological age are too modern for that. They take antioxidants and extract of cactus instead."

"That kind of politics has to stop. That kind of quackery has to stop. We don't need anymore faith healers and snake oil salesmen. We need some doctors to take the bullets out."

"My dad's father was of Scots-Irish descent and a man of many hats. He was adopted by a neighboring family at the age of six after his single father decided to move on without him. As a young teenager, he ran away from the only real family he knew and set out to start a life for himself. I loved hearing his stories, some sounded like tall tales. Grandpa, a snake-oil salesman of sorts, rode the rails all over the country, selling anything and everything to earn a buck."

"Well, he is on the recovery board, right? I guess two things. Caterpillar has also opposed the "buy American" provisions in the stimulus package. Recently a spokesman for Caterpillar said that they were like snake oil. And I know that the final package is still being finalized. But I'm wondering, that, and the fact that Caterpillar -- probably one of the companies that most supports the Colombia free trade agreement, and says that the stalling of that on Capitol Hill -- and I believe the President also has expressed concerns about that free trade agreement -- that that stalling is basically sending a message to businesses in Colombia, please buy Canadian products, not American. Does Caterpillar's support for the Colombian free trade agreement and opposition to the "Buy American" provisions, under the same idea of what's good for their workers and good business, would that have any effect on the President's thinking?"

"Clark Stanley reached into a sack, plucked out a snake, slit it open and plunged it into boiling water. When the fat rose to the top, he skimmed it off and used it on the spot to create 'Stanley's Snake Oil,' a liniment that was immediately snapped up by the throng that had gathered to watch the spectacle. Little wonder. After all, Stanley had proclaimed that the liniment would cure rheumatism, neuralgia, sciatica, lumbago, sore throat, frostbite and even toothache."

"Look, we're both snake oil salesman to a certain extent, but we do label the show as snake oil here. Isn't there a problem selling snake oil as vitamin tonic?"

"Some of the loudest, most proudly ignorant guessing in the world is going on in Washington today. Our leaders are sick of all the solid information that has been dumped on humanity by research and scholarship and investigative reporting. They think that the whole country is sick of it, and they could be right. It isn't the gold standard that they want to put us back on. They want something even more basic. They want to put us back on the snake-oil standard."

"Somewhere in the past. organizations were quite simple, and 'doing business' consisted of buying raw material from suppliers, converting into products, and selling it to customers... For the most part owner-entrepreneurs founded such simple business and worked along with members of their families. The family-dominated business still accounts for a large portion of the business start today."

"You can't just ask customers what they want and then try to give that to them. By the time you get it built, they'll want something new."

"Our DNA is as a consumer company - for that individual customer who's voting thumbs up or thumbs down. That's who we think about. And we think that our job is to take responsibility for the complete user experience. And if it's not up to par, it's our fault, plain and simply."

"Delighted customers are the only advertisement everyone believes."

"Your product is a starting point. A loyal customer is the goal."

"If customers leave without a purchase, you have not failed. But if customers leave without a smile, you have."

"The right measure is not how many customers you've got, but how closely you hold them."

"Customers can be asked about a product's evolution, but not its revolution."

"A satisfied customer is the best business strategy of all."

"When you stop talking, you've lost your customer. When you turn your back, you've lost her."

"Industrial design keeps the customer happy, his client in the black and the designer busy."

"The golden rule for every business man is this: 'Put yourself in your customer's place.'"

"Think about it: if you were running a multi-million dollar company, and your database of customer information was stolen, would you want to tell your clients? No. Most [US] companies did not until the laws required them to. It's in the best interest of organisations - when they're attacked and information is stolen - to tell nobody."

"There is one thing we are quite passionate about — and that is serving the customers who have trusted us."

"Courteous treatment will make a customer a walking advertisement."

"As far as the customer is concerned, the interface is the product."

"Organizations are defined from the inside out: they are described by who reports to whom, by departments and processes and matrices and perks. A business, on the other hand, is defined from the outside in by markets, suppliers, customers, and competitors."

"Pan Am takes good care of you. Marks & Spencer loves you. Securicor cares. I.B.M. says the customer is king. At Amstrad, we only want your money!"

"The toughest thing about the power of trust is that it's very difficult to build and very easy to destroy. The essence of trust building is to emphasize the similarities between you and the customer."

"Users can work with analysts and object designers to formulate and tune system requirements. People from business, analytical and object design disciplines can come together, learn from each other and generate meaningful descriptions of systems that are to be built. Each participant and each project has slightly different concerns and needs. Practical application of use cases can go a long way to improve our ability to deliver just what the customer ordered."

"There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else."

"Statistics suggest that when customers complain, business owners and managers ought to get excited about it. The complaining customer represents a huge opportunity for more business."

"I'm constantly amazed that owners and managers of all businesses don't train their people to call the person who pays by credit card by name. It definitely makes the customer feel good and will be a factor in bringing them back to your place of business."

"After . . . drawing on independent research on donor expectations, . . . assistance from a variety of philanthropic experts, and numerous comments from donors and charities, the BBB Wise Giving Alliance issued the [following] BBB Standards for Charity Accountability. . . . These standards apply to publicly-soliciting organizations that are tax exempt under section 501(c)(3) of the Internal Revenue Code and to other organizations conducting charitable solicitations. . . . The overarching principle of the BBB Standards for Charity Accountability is full disclosure to donors and potential donors at the time of solicitation and thereafter. . . . GOVERNANCE AND OVERSIGHT [Standards 1 - 5] The governing board has the ultimate oversight authority for any charitable organization. This section of the standard seeks to ensure that the volunteer board is active, independent and free of self-dealing. . . . MEASURING EFFECTIVENESS [Standards 6 - 7] The effectiveness of a charity in achieving its mission is of the utmost importance. . . . This is why a section of our standards require that charities set defined, measurable goals and objectives . . . and report on the organization’s progress. . . . FINANCES [Standards 8 - 14] While we believe that a charity’s finances only tell part of the story of how they are performing, they can identify organizations that may be demonstrating poor financial management and/or questionable accounting practices. . . . [T]hese standards . . . seek to ensure that the charity is financially transparent and spends its funds in accordance with its mission and donor expectations. . . . SOLICITATIONS AND INFORMATIONAL MATERIALS [Standards 15 - 20] A fundraising appeal is often the only contact a donor has with a charity and may be the sole impetus for giving. This section of the standards seeks to ensure that a charity’s representations to the public are accurate, complete and respectful."

"The 50 worst charities in America devote less than 4 percent of donations raised to direct cash aid. . . . Even as they plead for financial support, operators at many of the 50 worst charities have lied to donors about where their money goes, taken multiple salaries, secretly paid themselves consulting fees or arranged fundraising contracts with friends. . . . Some nonprofits are little more than fronts for fundraising companies . . . . To disguise the meager amount of money that reaches those in need, charities use accounting tricks and inflate the value of donated dollar-store cast-offs . . . ."

"I don't think that corporations are these big bogeymen that a lot of people paint them to be. … A corporation is a group of people, and if you want to come together for profit or nonprofit, that's your business—whatever you want to do."

"By reducing any quality to quantity, myth economizes intelligence: it understands reality more cheaply."

"PRICE, n. Value, plus a reasonable sum for the wear and tear of conscience in demanding it."

"The logic is simple: If you are going to be a net buyer of stocks in the future, either directly with your own money or indirectly (through your ownership of a company that is repurchasing shares), you are hurt when stocks rise. You benefit when stocks swoon. Emotions, however, too often complicate the matter: Most people, including those who will be net buyers in the future, take comfort in seeing stock prices advance. These shareholders resemble a commuter who rejoices after the price of gas increases, simply because his tank contains a day’s supply. Charlie and I don’t expect to win many of you over to our way of thinking – we’ve observed enough human behavior to know the futility of that – but we do want you to be aware of our personal calculus. And here a confession is in order: In my early days I, too, rejoiced when the market rose. Then I read Chapter Eight of Ben Graham’s The Intelligent Investor, the chapter dealing with how investors should view fluctuations in stock prices. Immediately the scales fell from my eyes, and low prices became my friend. Picking up that book was one of the luckiest moments in my life."

"This is precisely what the price system does under competition, and which no other system even promises to accomplish. It enables entrepreneurs, by watching the movement of comparatively few prices, as an engineer watches the hands of a few dials, to adjust their activities to those of their fellows. The important point here is that the price system will fulfill this function only if competition prevails, that is, if the individual producer has to adapt himself to price changes and cannot control them. The more complicated the whole, the more dependent we become on that division of knowledge between individuals whose separate efforts are coordinated by the impersonal mechanism for transmitting the relevant information known by us as the price system."

"There are many anticipators of marginal analysis. Three major names were Augustin Cournot (1801-1877), J. H. von Thünen (1783-1850), and H. H. Gossen (1810-1858). Cournot's originality and ingenuity can hardly be exaggerated. In 200 small pages, he described and defined the downward-sloping , completely analyzed the maximization of profit under conditions of monopoly, advanced an ingenious explanation of pricing, proved that equilibrium price occurred when equaled , and exactly defined the market from which we call perfect competition and he called "unlimited competition." And the book went unread."

"Economies are enormous groups of people engaged in a multitude of interdependent activities. What prevents decentralized decision making from degenerating into chaos? What coordinates the actions of the millions of people with their varying abilities and desires? What ensures that what needs to be done is in fact done? The answer, in a word, is prices. If an invisible hand guides market economies, as Adam Smith famously suggested, then the price system is the baton that the invisible hand uses to conduct the economic orchestra."

"[I]n all cases, for all commodities that serve to provide for the tangible or intangible needs of the consumer, it is in the consumer's best interest that labor and trade remain free, because the freedom of labor and of trade have as their necessary and permanent result the maximum reduction of price."

"We need to recognise that the entire information sector—from music to newspapers to telecoms to internet to semiconductors and anything in-between—has become subject to a gigantic market failure in slow motion. A market failure exists when market prices cannot reach a self-sustaining equilibrium. The market failure of the entire information sector is one of the fundamental trends of our time, with far-reaching long-term effects, and it is happening right in front of our eyes."

"Prices coordinate the decisions of producers and consumers in a market. Higher prices tend to reduce consumer purchases and encourage production. Lower prices encourage consumption and discourage production. Prices are the balance wheel of the market mechanism."

"Prices play a crucial role in determining how much of each resource gets used where and how the resulting products get transferred to millions of people. Yet this role is seldom understood by the public and it is often disregarded entirely by politicians."

"Nothing makes us understand the many roles of electricity in our lives like a power failure. Similarly, nothing shows more vividly the role and importance of price fluctuations in a market economy than the absence of such price fluctuations when the market is controlled."

"Because economic resources are not only scarce but have alternative uses, the efficient use of these resources requires both consumers and producers to make trade-offs and substitutions. Prices provide the incentives for doing so. When the price of oranges goes up, some consumers switch to tangerines. But not everyone stops eating oranges when they become more pricey. Some people continue to eat the same number of oranges they always ate, some cut back a little, some cut back a lot, and others forget about oranges completely and go on to some other fruit. Note that what is happening here is not just substitution— it is incremental substitution."

"In the extreme case where the security is held by the same family for generations, a practice by no means uncommon, the selling price in the end is a minor matter."

"There is a price which is too great to pay for peace, and that price can be put in one word. One cannot pay the price of self-respect."

"The young man or woman who has a thorough knowledge of penmanship and bookkeeping can always find a job, but with stenography and typewriting added to these, there is scarcely any limit to the salary he or she is able to command."

"Bookkeeping is never an exciting pastime, except for those quaint people who are born bookkeepers, and who find columns of figures a stimulating sight"

"While strict bookkeeping has always been required of banks, terrorist activities and corporate scandals have tightened the information used to track any."

"Bookkeeping is never neglected by anyone in business."

"There was an inn...which kept no register of...a number of seamstresses and tailors who lacked time and place and perhaps inclination to weave the cloths they cut and sewed, depending instead on the activities of those who preferred not to vex the original owners with the tiresome bookkeeping inseparable from purchase."

"Money is brought into being and transmuted from one imaginary form to another by mere entries on a ledger, and creative bookkeeping can always make the bottom line appear to balance."

"Stone was by no means the first economist to produce national income accounts. Simon Kuznets, for example, had already done so for the United States. Stone’s distinctive contribution was to integrate national income into a double-entry bookkeeping format. Every income item on one side of the balance sheet had to be matched by an expenditure item on the other side, thus ensuring consistency. Stone’s double-entry method has become the universally accepted way to measure national income."

"Since bookkeeping is still the backbone of the commercial curriculum, affording the pupil the best possible opportunity to secure an all-round knowledge of business, the report recommends that an elementary course in bookkeeping and business practice be offered in the ninth year."

"Single entry system of bookkeeping is the oldest and commonly used even today by many small businesses."

"The “Fool-Proof” Trial Balance.—Double-entry bookkeeping is never satisfied with anything short of absolute proof of the mathematical accuracy of the work."

"A proper school should teach nothing but bookkeeping, agriculture, geometry, dead languages made deader by leaving out all the amusing literature, and the Hebrew Bible as interpreted by men superbly trained to ignore contradictions, men technically called "Fundamentalists"."

"Bookkeeping has always been the crux of the orthodox commercial course."

"Chinese bookkeeping is never strong on accruals or amortization, but this is particularly evident in the case of pensions."

"Creative bookkeeping is the magic wand of “restructuring.”"

"Capitalism designates an economic system significantly characterized by the predominance of "capital." Capitalism and double entry bookkeeping are absolutely indissociable; their relationship to each other is that of form to content."

"Hollywood bookkeeping has always been a crafty blend of voodoo economics and fairy-tale accounting."

"Bookkeeping has always been a popular subject and it will continue to be a popular subject if it is taught properly and effectively."

"Bookkeeping is the oldest of all commercial subjects. Bookkeeping was fairly widely taught before the invention and wide adoption of the typewriter."

"Bookkeeping has always been taboo with farmers. Unfortunately, at the mention of farm management, most farmers think of ink and paper. Just keeping a set of books is not the guarantee of a good farming manager."

"Until language had developed to some extent there could have been little thinking beyond the range of actual experience, for language is the instrument of thought as bookkeeping is the instrument of business. It records and fixes and enables thought to get on to more and more complex ideas. It is the hand of the mind to hold and keep."

"The partial absorption of art by domestic industry and by domestic female crafts, that is to say, the fusion of artistic activity with other activities, is a retrogression from the standpoint of the division of labour and professional differentiation."

"The backbone of the domestic industry is the independent producer. These are the people who maintain the marginal wells. If the domestic industry is going to be able to adequately respond to the energy needs of this nation, changes must occur."

"As every individual, therefore, endeavours as much as he can both to employ his capital in the support of domestic industry, and so to direct that industry that its produce may be of the greatest value; every individual necessarily labours to render the annual revenue of the society as great as he can. He generally, indeed, neither intends to promote the public interest, nor knows how much he is promoting it. By preferring the support of domestic to that of foreign industry, he intends only his own security; and by directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. Nor is it always the worse for the society that it was no part of it. By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it. I have never known much good done by those who affected to trade for the public good. It is an affectation, indeed, not very common among merchants, and very few words need be employed in dissuading them from it."

"To give the monopoly of the home-market to the produce of domestic industry, in any particular art or manufacture, is in some measure to direct private people in what manner they ought to employ their capitals, and must, in almost all cases, be either a useless or a hurtful regulation."

"For 60 years Gross Domestic Product, or GDP for short, has been the yardstick by which the world has measured and understood economic and social progress. However, it has failed to capture some of the factors that make a difference in people’s lives and contribute to their happiness, such as security, leisure,income distribution and a clean environment–including the kinds of factors which growth itself needs to be sustainable."

"But it is not only of the space in the Church which we ought to be jealous, but also of the interiors of the house of God in us, so that it might not become a house of merchandise, or a den of robbers."

"I was not, thank heaven, in a condition which compelled me to make merchandise of Science for the bettering of my fortune."

"I couldn’t face making a merchandise of my mind."

"We become alternately merchants and merchandise, and we ask, not what a thing truly is, but what it costs."

"Happy is the man that findeth wisdom, and the man that getteth understanding. For the merchandise of it is better than the merchandise of silver, and the gain thereof than fine gold. She is more precious than rubies: and all the things thou canst desire are not to be compared unto her."

"Elizabeth is smart, ruthless, and emotionally damaged; that is, she is a sales representative."

"On level 14, Elizabeth is falling in love. This is what makes her such a good sales rep, and an emotional basket case: she falls in love with her customers. It is hard to convey just how wretchedly, boot-lickingly draining it is to be a salesperson. Sales is a business of relationships, and you must cultivate customers with tenderness and love, like cabbages in winter, even if the customer is an egomaniacal asshole you want to hit with a shovel. There is something wrong with the kind of person who becomes a sales rep, or if not, there is something wrong after six months."

"The ascetic Gotama … avoids watching dancing, singing, music and shows. He abstains from using garlands, perfumes, cosmetics, ornaments and adornments. … He refrains from running errands, from buying and selling."

"We find it meaningful when an owner cares about whom he sells to. We like to do business with someone who loves his company, not just the money that a sale will bring him (though we certainly understand why he likes that as well). When this emotional attachment exists, it signals that important qualities will likely be found within the business: honest accounting, pride of product, respect for customers, and a loyal group of associates having a strong sense of direction. The reverse is apt to be true, also. When an owner auctions off his business, exhibiting a total lack of interest in what follows, you will frequently find that it has been dressed up for sale, particularly when the seller is a “financial owner.” And if owners behave with little regard for their business and its people, their conduct will often contaminate attitudes and practices throughout the company."

"We like to buy things where no one makes a dime selling them to us."

"Love and admiration are drowned in these astronomical figures."

"In so far as words are not used obviously to calculate technically relevant probabilities or for other practical purposes, … they are in danger of being suspect as sales talk of some kind."

"The sales department isn't the whole company, but the whole company had better be the sales department."

"The music of the soul is also the music of salesmanship. Exchange value, not truth value counts. On it centers the rationality of the status quo, and all alien rationality is bent to It."

"It is impossible to understand the American public without taking into account the tremendous psychological effect of bringing up a generation of people in a daily environment of advertising. It is impossible to escape the advertising man; his sales talk assaults us in the morning newspaper, in the street car, with billboards along the highways, and in his shameless use of the radio. This means that from morning till night, in the midst of our work as in our recreation, we live constantly in an atmosphere of intellectual shoddiness. Every popular prejudice and vulgar conceit is played upon and pandered to in the interests of salesmanship. Everywhere material interests and herd opinion are strengthened to the loss of personal independence. The tendency is to think and speak for effect rather than out of one's inner life. There is a marked decline the ability to play with ideas, or to live the spiritual life for its own sake. Hence a decline in civilization of interest, humor and urbanity. Advertising tends to make mechanized barbarians of us all."

"There is no evil that is not fostered and encouraged for the sake of making money."

"For the words of the profits were written on the studio wall"

"Towards this fine honor of a trade converged all the finest, all the most noble sentiments—dignity, pride. Never ask anything of anyone, they used to say. … In those days a workman did not know what it was to solicit. It is the bourgeoisie who, turning the workmen into bourgeois, have taught them to solicit."

"Shopping, true feminine felicity!"

"Ah, human felicity! to have at once so many wants suggested and supplied! Wretched Grecian daughters! miserable Roman matrons! to whom shopping was an unknown pleasure, what did, what could employ them?"

"True heroism is remarkably sober, very undramatic. It is not the urge to surpass all others at whatever cost, but the urge to serve others at whatever cost."

"There are in the Exhibition some beautiful examples of such amongst the productions of other countries as well as of our own. They are made by the united labour of many women. The cost of a piece of lace will consist of:"

"Markets are institutions that exist to facilitate exchange, that is, they exist in order to reduce the cost of carrying out exchange transactions. In an economic theory which assumes that transaction costs are nonexistent. markets have no function to perform, and it seems perfectly reasonable to develop the theory of exchange by an elaborate analysis of individuals exchanging nuts for apples on the edge of the forest or some similar fanciful example. This analysis certainly shows why there is a gain from trade, but it fails to deal with the factors which determine how much trade there is or what goods are traded."

"Quality means meeting customers' (agreed) requirements, formal and informal, at lowest cost, first time every time."

"Low cost relative to competitors becomes the theme running through the entire strategy, though quality, service and other areas cannot be ignored."

"Microeconomics, including the study of individual choice and of group choice in market and nonmarket processes, has generally been considered a field science as distinct from an experimental science. Hence microeconomics has sometimes been classified as "non-experimental" and closer methodologically to meteorology and astronomy than to physics and experimental psychology... But the question of using experimental or nonexperimental techniques is largely a matter of cost, and generally the cost of conducting the most ambitious and informative experiments in astronomy, meteorology, and economics varies from prohibitive down to considerable. The cost of experimenting with different solar system planetary arrangements, different atmospheric conditions, and different national unemployment rates, each under suitable controls, must be regarded as prohibitive."

"The superior gratification derived from the use and contemplation of costly and supposedly beautiful products is, commonly, in great measure a gratification of our sense of costliness masquerading under the name of beauty."

"It is always sound business to take any obtainable net gain, at any cost and at any risk to the rest of the community."

"It costs so much to be a full human being that there are very few who have the enlightenment, or the courage, to pay the price...One has to accept pain as a condition of existence. One has to court doubt and darkness as the cost of knowing."

"Following the lead given by new institutional economics, we shall take the transaction as our unit of analysis. For our purposes, a transaction can be thought of as any act of social exchange that depends on information flows for its accomplishment. Transactions can be as simple and brief as the purchase of a packet of cigarettes, or as complex as and extended as those which bind a Zen master to his disciples. Like institutional economists, we are interested in the relationship that can be established between different transactional characteristics and the phenomenon of institutionalization. Our use of the term transaction, however, will extend beyond that of institutional economics where the focus has tended to be primarily on transaction costs and efficiency considerations. These, to be sure, are relevant. But, as we shall see, they are not the whole story."

"Markets are institutions that exist to facilitate exchange, that is, they exist in order to reduce the cost of carrying out exchange transactions. In an economic theory which assumes that transaction costs are nonexistent. markets have no function to perform, and it seems perfectly reasonable to develop the theory of exchange by an elaborate analysis of individuals exchanging nuts for apples on the edge of the forest or some similar fanciful example. This analysis certainly shows why there is a gain from trade, but it fails to deal with the factors which determine how much trade there is or what goods are traded."

"These individual actions are really trans-actions instead of either individual behavior or the "exchange" of commodities. It is this shift from commodities and individuals to transactions and working rules of collective action that marks the transition from the classical and hedonic schools to the institutional schools of economic thinking. The shift is a change in the ultimate unit of economic investigation. The classic and hedonic economists, with their communistic and anarchistic offshoots, founded their theories on the relation of man to nature, but institutionalism is a relation of man to man. The smallest unit of the classic economists was a commodity produced by labor. The smallest unit of the hedonic economists was the same or similar commodity enjoyed by ultimate consumers. One was the objective side, the other the subjective side, of the same relation between the individual and the forces of nature. The outcome, in either case, was the materialistic metaphor of an automatic equilibrium, analogous to the waves of the ocean, but personified as "seeking their level." But the smallest unit of the institutional economists is a unit of activity -- a transaction, with its participants. Transactions intervene between the labor of the classic economists and the pleasures of the hedonic economists,simply because it is society that controls access to the forces of nature, and transactions are, not the "exchange of commodities," but the alienation and acquisition, between individuals, of the rights of property and liberty created by society, which must therefore be negotiated between the parties concerned before labor can produce, or consumers can consume, or commodities be physically exchanged."

"A large part of what we think of as economic activity is designed to accomplish what high transaction costs would otherwise prevent or to reduce transaction costs so that individuals can negotiate freely and we can take advantage of that diffused knowledge of which Friedrich Hayek has told us."

"In general terms, transactions costs are the costs that arise when individuals exchange ownership rights to economic assets and enforce their exclusive rights. A clear definition of transactions costs does not exist, but neither are the costs of production in the neoclassical model well defined."

"The German and English and French serf, the Italian and Russian serf, were, on emancipation, given definite rights in the land. Only the American Negro slave was emancipated without such rights and in the end this spelled for him the continuation of slavery."

"I'm all lost in the supermarket I can no longer shop happily I came in here for that special offer A guaranteed personality"

"“Supermarkets are very efficient at providing a lot of food for a lot of people but they have their vulnerabilities,” says Moya Kneafsey, professor in food and local development at Coventry University. In Britain, for example, only 17% of fruit and half of vegetables are grown locally – the rest comes from cheap international trade, as supermarkets promote year-round availability. “Covid-19 begs the question – will the imports we rely on be dependable in the future? Even if supply is OK at the moment, will it be affected by the long-term impact of the virus in producer countries and in the transport sector?”"

"The average storage capacity of a supermarket is only one day’s worth of fresh products, says Jan Willem van der Schans, senior researcher of new business models at Wageningen University and Research. This supply chain needs a buffer – extra provision for when international trade or logistics are disrupted. “Every country has its comparative advantage – we grow bananas in tropical zones and we grow kale in temperate zones, but locally-produced food could be that buffer in the future.”"

"There are other downsides of overly relying on supermarket chains, which have more than a 95% grocery market share in the UK and France. Their products use a narrow range of ingredients based on crops and varieties that grow the fastest or are the most efficient to produce in large quantities. Industrial agriculture causes environmental degradation and relies on monocultures which are susceptible to disease. And the whole system tends to support low wages and temporary jobs. Almost a third of agriculture and fishing workers and 38% of food retail and wholesale workers in the UK are paid below the living wage. In the developing world, half of agricultural workers live in poverty – on less than $3.10 (£2.55) per day. In contrast, local systems with fewer steps between the grower and the consumer often support organic and sustainable farms, which are committed to paying fair wages and are more community-driven and diverse, says Kneafsey. They also offer transparency – something that extended supply chains are not usually able to provide. Yet, only 2% of fresh food in the EU is sold directly between farmers and consumers. In the US, food sold directly to consumers by farmers accounted for $3bn (£2.36) in 2015 while grocery store sales, including supermarkets, accounted for $613bn (£483) in the same year."

"The insurance underwriting cycle has become a touchstone in the debate over medical malpractice reform. On the one hand, trial lawyers and others who seek to preserve existing medical malpractice liability rules commonly report that the high-priced, "hard market" phase of the liability insurance underwriting cycle, and not real developments in malpractice litigation, fueled the medical malpractice insurance crises of the mid-1970s, mid-1980s, and early 2000s. ... On the other hand, medical associations and others who seek further restrictive tort reforms claim that those crises represented the long overdue consequence of escalating tort costs that the competiitve, "soft market" phase of the insurance underwriting cycle had allowed people to wish away."

"I don't see any reason why there should be some huge influx of people, immediately subsequent to the offering, that didn't hear about it in the offering period. ... I think most of the demand will be retail, not so much institutional. Most new offerings are done in a manner, where the idea is to have far more demand than supply and therefore cause people to maybe order stock they didn't even want — just on the idea that this restricted supply will cause a big jump the first day ... if you've seen Yahoo or a number of other offerings. Personally, I don't like that sort of distribution arrangement, because you'll find that 30 to 40 percent of the issue will perhaps trade the first day ... and perhaps at a lot higher price. I think there's something a little wrong with that kind of an offering. ... favored customers get the chance to flip the stock and really are getting paid an exorbitant underwriting fee themselves — even though they are called purchasers — because they sell it the first day."

"It seems to have been about the middle of the last century when some enterprising individuals, whose names have not been handed down to posterity, realizing the disadvantages of personal suretyship, conceived the idea of forming a corporation for the purpose of going into the business of becoming surety on bonds and charging a fee for the service; for in the year 1865 the Legislature of the State of New York, by Chapter 328 of the Acts of that year, authorized the formation of corporations to guarantee the fidelity of persons holding places of public or private trust. No doubt some people were at that time desirous of forming a corporation for that purpose; and it may be that such a company was actually formed. But the first American company that ever actually transacted the business of suretyship in this country was the Fidelity and Casualty Company of New York, which was incorporated in 1876 and began business in 1879."

"... consider a firm wishing to issue securities. When firms issue securities, they hire a bank as an underwriter. The bank underwrites securities by guaranteeing a fixed amount of proceeds that the issuing firm receives when bonds are sold to investors. In addition to assuming the market risk (and potentially the risk of reputation loss as well), the underwriter also assists the issuer with documentation of the prospectus and with marketing and selling of the bond. The issuer pays a fee to the underwriter for its service which is fully paid at the time the issuance."

"Clearly the attitude of disrespect that many executives have today for accurate reporting is a business disgrace. And auditors, as we have already suggested, have done little on the positive side. Though auditors should regard the investing public as their client, they tend to kowtow instead to the managers who choose them and dole out their pay. (“Whose bread I eat, his song I sing.”)"

"One of the biggest problems facing regulatory compliance is individuals running testing applications without understanding all the other simultaneous objectives still required. Running software will never make a person a competent auditor."

"It is the duty of the auditor to see that the authority to charge is not made a pretext for extravagance or favouritism."

"There is nothing more sacred in the auditor-client literature than the notion of auditor independence, dating from the emergence of a professionalized service in the 19th century. According to the self-congratulatory atmosphere among the regulators of the world's securities markets, the problem of dubious accounting would be fully solved by strictly limiting the kinds of services that auditors can provide to clients. Yet with each of the surviving Big Four burdened by the weight of a litigation list of cases large enough to be fatal, this unexamined burden has become yet another millstone. To be both blunt and unconventional — it is time to stop making nice, and to discard this 165-year-old piece of conventional wisdom. The concept of auditor independence does not serve the interests of investors."

"Meanwhile, China has been slowly rolling out a digital version of its yuan, also inspired by bitcoin and crypto, in an attempt to both control the domestic flow of money among its citizens and compete with the U.S. dollar for global trade."

"[Cryptocurrency is] an asset, a commodity, and a store of value."

"In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending."

"Because imagine the combination of social media, the algorithms that drive social media, the amassing of even larger sums of money through the control of certain cryptocurrency chains -- we're looking at not only states such as China or Russia or others manipulating technology of all kinds to their advantage. We're looking at non-state actors, either in concert with states or on their own, destabilizing countries, destabilizing the dollar as the reserve currency."

"I've always been deeply opposed to crypto, bitcoin, etc. You pointed out the only true use case for it is criminals, drug traffickers, money laundering, tax avoidance. .... If I was the government, I’d close it down."

"The worst thing you can do is lay the wet blanket of government over this emerging area that frankly a lot of people are going to with or without government. Maybe that's the warning sign. This is going to happen. People are going to continue to move in this direction because cryptocurrency and everything that comes with it is a response to too much government."

"From the day I started digging into the crypto world, I had seen nothing but red flags. Why were all these companies based in infamous offshore regulatory havens? What was up with all these random virtual coins that were supposedly worth tens of billions of dollars? Was that, just maybe, a precarious foundation for the future of finance? Were they all scams? But by the time I visited Bankman-Fried’s island hideaway, the logic of the financial world had broken down. Hardly anyone knew what cryptocurrencies were for. Even supposed experts couldn’t explain them. It was unclear why many of the coins would be worth anything at all. But from 2020 to early 2022, the prices of Bitcoin and hundreds of other lesser coins—with ridiculous names like Dogecoin, Solana, Polkadot, and Smooth Love Potion—were going up and up. While I was in the Bahamas, people traded more than $500 billion worth of them, and the market value of all coins combined topped $2 trillion."

"Crypto boosters claimed they were in the vanguard of a revolution that would democratize finance and lead to generational wealth for those who believed. The roar of the rising prices drowned out the skeptics. Incomprehensible jargon became inescapable. Blockchain. DeFi. Web3. The metaverse. What these terms meant was beside the point. Newspapers, TV, and social media bombarded potential investors with stories of regular people who invested in them and got rich quick. None of this led to any sort of mass movement to actually use crypto in the real world. Nobody tossed their credit cards, closed their bank accounts, and abandoned the dollar or the euro in favor of, say, Cardano coins. But the hucksters, zealots, opportunists, and outright scammers who created the boom got unbelievably, unimaginably, impossibly rich."

"Bankman-Fried told me that as many as five of his colleagues at FTX were billionaires. And that was just a single crypto company. Many unprofitable start-ups with questionably legal business plans were valued in the billions. Changpeng Zhao, who founded another crypto exchange called Binance, made a fortune estimated at $96 billion. The numbers got so large that even the most delusional crypto fantasies started to sound reasonable. It seemed like nothing could stop crypto’s manic rise. Until, of course, the house of cards collapsed. Starting in the summer of 2022, many companies in crypto were revealed to be frauds. The bubble popped. About $2 trillion of market value was erased. Billionaires went bankrupt. Millions of ordinary people lost their savings. The financial authorities who’d allowed scammers to run rampant finally decided it was time to lay down the law. Bankman-Fried and many of his associates were arrested. Crypto didn’t disappear entirely, but the fever had broken."

"This is the story of the greatest financial mania the world has ever seen. It started as an investigation of a coin called Tether that served as a kind of bank for the industry. But it morphed into a two-year journey that would stretch from Manhattan to Miami, to Switzerland, Italy, the Bahamas, El Salvador, and the Philippines. It is based on hundreds of interviews with people at every level of crypto, from gamblers to coders to promoters to billionaires. I visited their yachts and parties at the pinnacle of the frenzy and their hideouts as the authorities were closing in. From the beginning, I thought that crypto was pretty dumb. And it turned out to be even dumber than I imagined. Never before has so much wealth been generated with such flimsy schemes. But what shocked me was not the vapidity of the crypto bros. It was how their heedlessness had devastating consequences for people across the world. By the end, I’d find myself in Cambodia, investigating how crypto fueled a vast human-trafficking scheme run by Chinese gangsters."

"Having alternative currencies is great, right, because, historically, government's had a monopoly on currency. … At the end of the day, why should only politicians—either directly or indirectly—control the currency? We can reduce transaction cost, provide an alternative, and—look, I don't know whether it'll be Bitcoin or not—but I think the concept of digital currencies is here to stay, and the fact that a politician would write to try to ban them in their infancy is just the wrong way to go about it. Let the market determine whether there's any value there or not. … If people are saying, "Look, we gotta ban Bitcoin because it's somewhat anonymous and anonymous transactions can occur," or "because it's possible for criminals to use it," all of those arguments can be used to say, "Just ban dollars." … The government doesn't need to "treat" it at all… The government policy should be completely agnostic about what unit of exchange is used."

"Cryptocurrencies have given rise to an entire new criminal industry, comprising unregulated offshore exchanges, paid propagandists, and an army of scammers looking to fleece retail investors. Yet, despite the overwhelming evidence of rampant fraud and abuse, financial regulators and law-enforcement agencies remain asleep at the wheel."

"The crypto bros are spending tens of millions in Washington to make sure this industry is regulated as lightly as possible, ... There are no lobbyists or PACs dedicated to preventing tax evasion, sanctions evasion, and the other forms of illicit finance that cryptocurrency enables,"

"planet-incinerating Ponzi grifters"

"As existing markets expand and REIT-like structures are introduced in more countries, we expect to see the overall market grow by some ten percent per annum over the next five years, taking the market to $1 trillion by 2010."

"This transaction is truly a win-win. It helps maintain affordability in the assets, and, at the same time, the proceeds generated from the transaction strengthen the REIT's position to further increase housing supply across the country as we invest in our existing portfolio and new purpose-built rental developments."

"In a way the establishment in 1760 of what, as , was to become the world's most famous toyshop, symbolised the new world that opened up for British toy makers from the middle of the eighteenth century. It was only one of a new toy outlets established in London in the years after 1750. By 1822 the capital possessed no fewer than seventy-one retail toy shops and thirteen wholesalers. ... Such was the proliferation by 1800 that some degree of specialisation emerged, with at least two concentrating solely on ."

"Children of my day, even in s, had very little in the way of toys. Toy shops were almost unknown; modern mechanical playthings, which furnish their own activity, had hardly come into existence. One might, of course, buy oneself a hobby-horse, but generally speaking an individually selected knotty stick from the woods, upon which imagination might work freely, was dearer to the heart. We were not observers, as children today seem to be from birth, of their own accord; and not utilizers, as they are brought up to be; we were creators. Our knotty stick, for all working purposes, in appearance and as far as actual horsepower went, came nearer to and eight-hoofed , or to himself, than any magnificently decorated horse from a smart store."

"I don't remember ever going to a toy store as a child. Although specialty toy stores existed in major cities like New York and Chicago as early as the 1860s, in the towns and suburbs where I lived no store had the primary purpose of selling toys to kids. ... I remember s that sold electric train sets and model-building kits, s where you could buy bikes and baseballs, and s and s that had toy departments, but these stores sold merchandise primarily to adults, not to children. Something radical happened in the intervening thirty-pls years in the marketing and selling of toys. Giant toy stores now dot the landscape, offering huge selections and low prices on toys made all over the world."