Quotes & Sayings About The Currency Act

Severe punishment unquestionably has an immediate effect in reducing a tendency to act in a given way. This result is no doubt responsible for its widespread use. We 'instinctively' attack anyone whose behavior displeases us - perhaps not in physical assault, but with criticism, disapproval, blame, or ridicule. Whether or not there is an inherited tendency to do this, the immediate effect of the practice is reinforcing enough to explain its currency. In the long run, however, punishment does not actually eliminate behavior from a repertoire, and its temporary achievement is obtained at tremendous cost in reducing the over-all efficiency and happiness of the group. (p. 190) — B.F. Skinner

Whether government finances its added spending by increasing taxes, by borrowing, or by inflating the currency, the added spending will be offset by reduced private spending. Furthermore, private spending is generally more efficient than the government spending that would replace it because people act more carefully when they spend their own money than when they spend other people's money. — Richard Wagner

I am specifically concerned about the idea that the legislative process is one that gets characterized the way it is as the 'fiscal cliff.' At the end of the day, the United States is the biggest economy in the world, and the dollar is the reserve currency in the world. I think it behooves us to act in a much more responsible way. — Lloyd Blankfein

I happen to believe that the deepest value of fiction is that, in its very fictiveness, it is the one arena where we can, at least temporarily, take apart and refuse to compete within the terms that the rest of existence insists on. Market value may come to drive out all other human values, except, perhaps, in the country of invented currency, the completely barter-driven economy of the imagination. Fiction, when it remembers its innate priority over other human transactions, can deal not in price but in worth. And that seems to me an act filled with political potential, as well as with pleasure. — Richard Powers

The Federal Reserve Act as it stands seems to me to open the way to a vast inflation of the currency. I do not like to think that any law can be passed that will make it possible to submerge the gold standard in a flood of irredeemable paper currency. — Henry Cabot Lodge

The British Parliament, in its famed Longitude Act of 1714, set the highest bounty of all, naming a prize equal to a king's ransom (several million dollars in today's currency) for a "Practicable and Useful" means of determining longitude. — Dava Sobel

Nations are not ruined by one act of violence, but gradually and in an almost imperceptible manner by the depreciation of their circulating currency, through its excessive quantity. — Nicolaus Copernicus

Before things are written down they don't exist in quite the same way. The act of fixing them in words gives them a kind of currency that can be traded. — Erica Jong

No matter how hard I try, there's a cynical corner of my mind where everything is an act. People are game pieces. Information is currency. — Brandon Mull

The crisis prompted the issue of emergency paper money: in Britain, £1 and 10s Treasury notes; in the United States, the emergency currency that banks were authorized to issue under the Aldrich-Vreeland Act of 1908.46 Then, as now, the authorities reacted to a liquidity crisis by printing money. — Niall Ferguson

Like anything else that happens on its own, the act of writing is beyond currency. Money is great stuff to have, but when it comes to the act of creation, the best thing is not to think of money too much. It constipates the whole process. — Stephen King

Try the following experiment. Go to the airport and ask travelers en route to some remote destination how much they would pay for an insurance policy paying, say, a million tugrits (the currency of Mongolia) if they died during the trip (for any reason).Then ask another collection of travelers how much they would pay for insurance that pays the same in the event of death from a terrorist act (and only a terrorist act). Guess which one would command a higher price? Odds are that people would rather pay for the second policy (although the former includes death from terrorism). The psychologists Daniel Kahneman and Amos Tversky figured this out several decades ago. — Nassim Nicholas Taleb

It may seem strange, but Congress has never developed a set of goals for guiding Federal Reserve policy. In founding the System, Congress spoke about the country's need for "an elastic currency." Since then, Congress has passed the Full Employment Act, declaring its general intention to promote "maximum employment, production, and purchasing power." But it has never directly counseled the Federal Reserve. — Wright Patman