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What was needed was a policy that increased the supply of money available for use and then ensured its use. Then the state of trade would have to improve.
--
Chapter XVI, The Coming of J.M. Keynes, p. 217

 

John Kenneth Galbraith

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So, I heard the Fed increased the money supply, but I checked my bank balance and it's the same as before.

 

Scott Adams

 

The King governs by Law. Let us look back to the evils we had, in order to prevent more. There was loan, and ship-money, and extremes begat extremes. The House would then give no money. Let the King rely upon the Parliament; we have settled the Crown and the Government. 'Tis strange that we have sat so many years, and given so much money, and are still called upon for Supply. The Lords may give Supply with their own money, but we give the peoples; we are their proxies. The King takes his measures by the Parliament, and he doubts not but that all the Commons will supply for the Government; but giving at this rate that we have done, we shall be "a branch of the revenue." They will "anticipate" us too. But, let the officers say what they will, we will not make these mismanagements the King's error. 'Tis better it should fall upon us than the King. We give public money, and must see that it goes to public use. Tell your money, fix it to public ends, and take order against occasions of this nature for the future. We cannot live at the expence of Spain, that has the Indies; or France, who has so many millions of revenue. Let us look to our Government, Fleet, and Trade. 'Tis the advice that the oldest Parliament-man among you can give you; and so, God bless you!

 

Edmund Waller

 

Money is different from all other commodities: other things being equal, more shoes, or more discoveries of oil or copper benefit society, since they help alleviate natural scarcity. But once a commodity is established as a money on the market, no more money at all is needed. Since the only use of money is for exchange and reckoning, more dollars or pounds or marks in circulation cannot confer a social benefit: they will simply dilute the exchange value of every existing dollar or pound or mark. So it is a great boon that gold or silver are scarce and are costly to increase in supply.
But if government manages to establish paper tickets or bank credit as money, as equivalent to gold grams or ounces, then the government, as dominant money-supplier, becomes free to create money costlessly and at will. As a result, this 'inflation' of the money supply destroys the value of the dollar or pound, drives up prices, cripples economic calculation, and hobbles and seriously damages the workings of the market economy.

 

Murray Rothbard

 

The political policies that are called conservative these days would appall any genuine conservative, if there were one around to be appalled. For example, the central policy of the Reagan Administration - which was supposed to be conservative - was to build up a powerful state. The state grew in power more under Reagan than in any peacetime period, even if you just measure it by state expenditures. The state intervention in the economy vastly increased. That's what the Pentagon system is, in fact; it's the creation of a state-guaranteed market and subsidy system for high-technology production. There was a commitment under the Reagan Administration to protect this more powerful state from the public, which is regarded as the domestic enemy. Take the resort to clandestine operations in foreign policy: that means the creation of a powerful central state immune from public inspection. Or take the increased efforts at censorship and other forms of control. All of these are called "conservatism," but they're the very opposite of conservatism. Whatever the term means, it involves a concern for Enlightenment values of individual rights and freedoms against powerful external authorities such as the state, a dominant Church, and so on. That kind of conservatism no one even remembers anymore.

 

Noam Chomsky

 

...the power to control the supply of money, which is one of the fundamental aspects of sovereignty, has passed from government into other hands; and therefore new institutions must be set up which will in effect exercise some of the major functions of government. They would set the level of public expenditure, and settle fiscal policy, the exercise of taxing and borrowing powers of the state, since these are indisputedly the mechanism by which the money supply is determined. But they would do more than this. They would be supreme over the economic ends and the social structure of society: for by fixing prices and incomes they would have to replace the entire automatic system of the market and supply and demand—be that good or evil—and put in its place a series of value judgments, economic or social, which they themselves would have to make...There is a specific term for this sort of polity. It is, of course, totalitarian, because it must deliberately and consciously determine the totality of the actions and activities of the members of the community; but it is a particular kind of totalitarian regime, one, namely, in which authority is exercised and the decisions are taken by a hierarchy of unions or corporations—to which, indeed, on this theory the effective power has already passed. For this particular kind of totalitarianism the Twentieth Century has a name. That name is "fascist".

 

Enoch Powell