Exchange Mechanism Quotes

I have made no distinction between the circulation of goods and of money, because there really is none.

Value manifests itself as exchange value, as a quantitatively determined relationship, in virtue of the fact that one commodity can be exchanged for another.

Money is the medium of exchange, and it's how you make things happen. To say you hate it is some farfetched, idealistic crap.

The institution of a bank has also a natural relation to the regulation of trade between the States, in so far as it is conducive to the creation of a convenient medium of exchange between them, and to the keeping up a full circulation, by preventing the frequent displacement of the metals in reciprocal remittances Money is the very hinge on which commerce turns. And this does not merely mean gold and silver; many other things have served the purpose, with different degrees of utility. Paper has been extensively employed.

We should never lose sight of the underlying essence of a market-a place where buyers and sellers come together. Every other feature-whether crafted by tradition or technology-exists only to serve that primary purpose.

Money is indispensable to a long-circuit heavy load energy system. It must be used when a sufficient surplus is being produced to allow a margin for exchange, and cost of transport, over a considerable distance. Money represents a storage battery when idle, and a generalized mode of the conversion of energy when it is in motion, with a function of equating time and space.

There are several problems with the ACA's reliance on means-based inclusion criteria and mandatory participation in exchanges - the complexity of the exchange mechanism, and the potential for income-based subsidies to become a disincentive to earn if insurance rates escalate for those beyond the income threshold.

I don't have a shred of regret about entering the exchange-rate mechanism.