Over short periods, the relation between growth in money and growth in nominal income is often hard to see, partly because the relation is less close for short than for long periods, but mostly because it takes time for changes in monetary growth to affect income. And how long a time is itself variable. Today's income growth is not closely related to today's monetary growth; it depends on what has been happening to money in the past. What happens to money today affects what is going to happen to income in the future.
Milton FriedmanRelated topics
affect close future growth happening hard income less money nominal past relation see short time variable todayRelated quotes
I am willing to believe that my unobtainable sixty seconds within a sponge or a flatworm might not reveal any mental acuity that I would care to call consciousness. But I am also confident [...] that vultures and sloths, as close evolutionary relatives with the same basic set of organs, lie on our side of any meaningful (and necessarily fuzzy) border-and that we are therefore not mistaken when we look them in the eye and see a glimmer of emotional and conceptual affinity.
Stephen Jay Gould
With each technological ‘revolution', more energies began to be accessed, stored, and used than had been in the preceding epoch...On the whole, technological change is irreversible: whatever the nature of a technological revolution, it is always from the hoe to the plough, and not the other way around...Improvement generally means greater efficiency in the use of energy, materials, or information. It means greater speed, less investment of time and money, and operation on a larger scale.
Ervin László
The problem, often not discovered until late in life, is that when you look for things like love, meaning, motivation, it implies they are sitting behind a tree or under a rock. The most successful people recognize, that in life they create their own love, they manufacture their own meaning, they generate their own motivation. For me, I am driven by two main philosophies, know more today about the world than I knew yesterday. And along the way, lessen the suffering of others. You'd be surprised how far that gets you.
Neil deGrasse Tyson
Now a writer can make himself a nice career while he is alive by espousing a political cause, working for it, making a profession of believing in it, and if it wins he will be very well placed. All politics is a matter of working hard without reward, or with a living wage for a time, in the hope of booty later. A man can be a Fascist or a Communist and if his outfit gets in he can get to be an ambassador or have a million copies of his books printed by the Government or any of the other rewards the boys dream about.
Ernest Hemingway
How thrilling to discover one had depths, how consoling to find them less polluted than the shallows, how encouraging to identify the enemy not as a fissure in the will but as a dead fetus in the specimen jar of the unconscious. My attention was being paternally led away from the excruciating present to the happy, healthy future that would be enabled by an analysis of the sick past, as though the priest had nothing to do but study old books and make bright forecasts, the present not worthy of notice.
Edmund White
