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It has been frequently assumed that V is constant; and this indeed is the cornerstone of the quantity theory of money. But it seems fairly obvious that the velocity of circulation in fact depends on the short-term rate of interest.
--
Chapter 6, The Short Term Rate of Interest, p. 73

 

Michal Kalecki

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The complexity for minimum component costs has increased at a rate of roughly a factor of two per year... Certainly over the short term this rate can be expected to continue, if not to increase. Over the longer term, the rate of increase is a bit more uncertain, although there is no reason to believe it will not remain nearly constant for at least 10 years. That means by 1975, the number of components per integrated circuit for minimum cost will be 65,000. I believe that such a large circuit can be built on a single wafer.

 

Gordon Moore

 

It's very easy to get on this after the fact. The measure of the network and the measure of the man is—CNBC could act as [...] nobody's asking for them to be a regulatory agency. But whose side are they on? It feels like they have to reconcile: is their audience the Wall Street traders that are doing this for constant profit on a day-to-day, short-term—these guys at these companies were on a Sherman's March through their companies, financed by our 401Ks, and all the incentives of their companies were for short-term profit. And they burned the f**king house down with our money and they walked away rich as hell. And you guys knew that that was going on.

 

Jon Stewart

 

If treasury bills are emitted on a tax appropriated for their redemption in fifteen years, and (to insure preference in the first moments of competition) bearing an interest of six per cent, there is no one who would not take them in preference to the bank paper now afloat, on a principle of patriotism as well as interest; and they would be withdrawn from circulation into private hoards to a considerable amount. Their credit once established, others might be emitted, bottomed also on a tax, but not bearing interest; and if ever their credit faltered, open public loans, on which these bills alone should be received as specie. These, operating as a sinking fund, would reduce the quantity in circulation, so as to maintain that in an equilibrium with specie. It is not easy to estimate the obstacles which, in the beginning, we should encounter in ousting the banks from their possession of the circulation; but a steady and judicious alternation of emissions and loans would reduce them in time.

 

Thomas Jefferson

 

Money was intended to be used in exchange, but not to increase at interest. And this term interest, which means the birth of money from money, is applied to the breeding of money because the offspring resembles the parent. Wherefore of all modes of getting wealth this is the most unnatural.

 

Aristotle

 

Necessity, as well as patriotism and confidence, will make us all eager to receive treasury notes, if founded on specific taxes. Congress may borrow of the public, and without interest, all the money they may want, to the amount of a competent circulation, by merely issuing their own promissory notes, of proper denominations for the larger purposes of circulation, but not for the small. Leave that door open for the entrance of metallic money.

 

Thomas Jefferson