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.
--
p. 32Isabel Paterson
» Isabel Paterson - all quotes »
More and more of the flow was diverted from production into the political mechanism. Whatever elements in motion compose a stream of energy, enough must go through to complete the circuit and renew production. Water running in an aqueduct to turn a millwheel is a stream of energy; or electricity going through insulated wires; or goods in process from raw materials to finished product and conveyed by a system of transport. If the water channel is pierced with many small openings en route; or electricity taken off by more and more outlets; or the goods expropiated piecemeal at each stage of the process, finally not enough will go through for maintenance of the system. In the energy system comprised in an exchange of goods, the producers and processors have to get back enough to enable them to keep on producing and working up the raw materials and to provide transport...
Isabel Paterson
These are not sentimental considerations; they constitute the mechanism of production and therefore of power. Personal liberty is the pre-condition of the release of energy. Private property is the inductor which initiates the flow. Real money is the transmission line; and the payment of debts comprises half the circuit. An empire is merely a long circuit energy-system. The possibility of a short circuit, ensuing leakage and breakdown or explosion, occurs in the hook-up of political organization to the productive processes. This is not a figure os speech or analogy, but a specific physical description of what happens.
Isabel Paterson
No man can be a good citizen unless he has a wage more than sufficient to cover the bare cost of living, and hours of labor short enough so after his day’s work is done he will have time and energy to bear his share in the management of the community, to help in carrying the general load.
Theodore Roosevelt
Q. [McCallum] … are there other economists who have had a really major influence on your thinking? A. [Melzer] Well I mentioned Hayek. There are two ways. One is because of my interest in political economy. The other way is that Hayek was a pioneer in the use of information in economics. One of the papers that Karl and I wrote together that I continue to like was a paper called "The Uses of Money". In that paper we tried to incorporate information and the cost of information to explain why people use money. One of Hayek's most basic ideas is that institutions are a way of reducing uncertainty. Man struggles to find institutional arrangements which on average make life a bit more predictable. Our "Uses of Money" is not so much about money as we conventionally think about it, it's about the idea of a medium of exchange, the function of an institution called the medium of exchange and how the medium of exchange as an institution resolves a part of peoples uncertainty about the future.
Friedrich Hayek
The more you get into material and matter, all you realize is in matter, there is energy. There is a blur between energy and consciousness. All material is conscious to some extent or another. All material can respond to some extent or another to vibrations of energy that is different to energy you learn about in physics. There are all sorts of reliable information now on people and animal being able to be able to effect the operations of machines—even of computers—and I think that has great implications for what goes on between a musician and his instrument. There is a level of reality where there is no time, and there is no space, there is just energy. And we have contact with that through the intermediate layers, so, if the right channels—if the right connections are established, I don’t see why a piece of matter, a piece of broken glass or and old record can’t make contact through this very high level of reality that has access to everything past and future. I suppose my instruments do retain some sort of memory of me. I know that when I’m working on them I feel (not explicitly, I don’t hear voices in my head or anything) that I’m making a connection with it. The circuit diagram, that is then converted into a circuit board, which then becomes a part of an instrument is something that is a record that I made. So I guess in that sense it is something that is certainly a memory.
Robert Moog
Paterson, Isabel
Paterson, Samuel
A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
Q
R
S
T
U
V
W
X
Y
Z