The true nature of the international system under which we were living was not realized until it failed. Hardly anyone understood the political function of the international monetary system; the awful suddenness of the transformation thus took the world completely by surprise. And yet the gold standard was the only remaining pillar of the traditional world economy; when it broke, the effect was bound to be instantaneous. To liberal economists the gold standard was a purely economic institution; they refused even to consider it as a part of a social mechanism.
Karl PolanyiRelated topics
anyone bound broke economy effect function gold institution international liberal living mechanism nature pillar political remaining social standard surprise system take thus traditional transformation under world yet suddennessRelated quotes
Males do not represent two discrete populations, heterosexual and homosexual. The world is not to be divided into sheep and goats. Not all things are black nor all things white. It is a fundamental of taxonomy that nature rarely deals with discrete categories. Only the human mind invents categories and tries to force facts into separated pigeon-holes. The living world is a continuum in each and every one of its aspects. The sooner we learn this concerning human sexual behavior, the sooner we shall reach a sound understanding of the realities of sex.
Alfred Kinsey
Peter, in showing that the Church is one and that only those who are in the Church can be saved, said: "In the Ark of Noah certain persons, numbering only eight, were saved by water, which Baptism effects in like manner for you" (1 Peter 3:20). He proves and demonstrates that the solitary Ark of Noah was the figure of the One Church. If, at the time of this Baptism of the world anyone could have been saved without having been in the Ark of Noah, then he who is outside the Church could now be brought to life by Baptism.
Cyprian
It is no coincidence that the ABM Treaty was signed midway between the delinking of the U. S. dollar from the gold standard in 1971 and the first oil crisis in 1973. These were the years not only of monetary and economic crises but also of both the beginning of the destruction of the welfare state and the shift of the hegemony of economic production from the factory to more social and immaterial sectors. One might think of these various transformations as different faces of one common phenomenon, one grand social transformation.
Antonio Negri
Until the last great war, a general expectation of material improvement was an idea peculiar to Western man. Now war and its aftermath have made economic and social progress a political imperative in every quarter of the globe. If we ignore this, there will be no peace. There has been a widening of horizons to which in the West we have been perhaps too insensitive. Yet it is as important as the extension of our vision into outer space.
Today continuing poverty and distress are a deeper and more important cause of international tensions, of the conditions that can produce war, than previously.
Lester B. Pearson
As a result of uncertainties caused by the French referendum, massive speculative flows have continued to disrupt the functioning of the exchange rate mechanism. As Chairman of Ecofin I have tonight called an urgent meeting of the EC's monetary committee to consider how stability might be restored to the markets over the next few days.
In the meantime the Government has decided that Britain's best interests would be best secured by suspending our membership of the ERM with immediate effect. As a result, the second of the two interest rate rises announced today will not take effect.
Norman Lamont
