Goods can serve many other purposes besides purchasing money, but money can serve no other purpose besides purchasing goods.
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Chapter I, p. 471Adam Smith
We have introduced the monetary factor not by necessity but by choice. Its advantages are obvious. Self-financed commodity units are not only interest free, but free also from dependence upon credit conditions. They are a step-desirable, it seems to us-in the direction of a goods economy as distinct from a money economy; but this step is taken without violence by merely identifying basic goods with money. It guarantees unfailing purchasing power where it is most needed-among the countless producers of raw commodities.
Benjamin Graham
It would be too ridiculous to go about seriously to prove that wealth does not consist in money, or in gold and silver; but in what money purchases, and is valuable only for purchasing. Money no doubt, makes always a part of the national capital; but it has already been shown that it generally makes but a small part, and always the most unprofitable part of it.
Adam Smith
What is scarce is money. The lack of money to spend on goods is what keeps the unemployed resources from producing more goods. Work, moreover, instead of being a curse, is desired more than anything else because the alternative is not enjoyment of leisure but the suffering of unemployment and deprivation. Of course, if people could get income without they would not object too much (although their self-respect in feeling they are useful members in society who are earning their income is too easily underestimated). But it is only by finding work they can obtain the necessary income they need.
Abba Lerner
Time is money — says the vulgarest saw known to any age or people. Turn it round about, and you get a precious truth —money is time. I think of it on these dark, mist-blinded mornings, as I come down to find a glorious fire crackling and leaping in my study. Suppose I were so poor that I could not afford that heartsome blaze, how different the whole day would be! Have I not lost many and many a day of my life for lack of the material comfort which was necessary to put my mind in tune? Money is time. With money I buy for cheerful use the hours which otherwise would not in any sense be mine; nay, which would make me their miserable bondsman. Money is time, and, heaven be thanked, there needs so little of it for this sort of purchase. He who has overmuch is wont to be as badly off in regard to the true use of money, as he who has not enough. What are we doing all our lives but purchasing, or trying to purchase, time? And most of us, having grasped it with one hand, throw it away with the other.
George Gissing
In the Colonies we issue our own money. It is called Colonial Scrip. We issue it in proper proportion to the demands of trade and industry to make the products pass easily from the producers to the consumers. In this manner, creating for ourselves our own paper money, we control its purchasing power, and we have no interest to pay no one.
Benjamin Franklin
Smith, Adam
Smith, Alexander
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