The use of quantity of money as a target has not been a success. I'm not sure that I would as of today push it as hard as I once did.
--
Financial Times [UK] (7 June 2003)Milton Friedman
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To walk in money through the night crowd, protected by money, lulled by money, dulled by money, the crowd itself a money, the breath money, no least single object anywhere that is not money, money, money everywhere and still not enough, and then no money or a little money or less money or more money, but money, always money, and if you have money or you don't have money it is the money that counts and money makes money, but what makes money make money?
Henry Miller
Numbers are the product of counting. Quantities are the product of measurement. This means that numbers can conceivably be accurate because there is a discontinuity between each integer and the next. Between two and three there is a jump. In the case of quantity there is no such jump, and because jump is missing in the world of quantity it is impossible for any quantity to be exact. You can have exactly three tomatoes. You can never have exactly three gallons of water. Always quantity is approximate.
Gregory Bateson
Inflation is an increase in the quantity of money without a corresponding increase in the demand for money, i.e., for cash holdings.
Ludwig von Mises
A thought is an arrow shot at the truth; it can hit a point, but not cover the whole target. But the archer is too well satisfied with his success to ask anything farther.
Sri Aurobindo
The demand for money is regulated entirely by its value, and its value by its quantity.
David Ricardo
Friedman, Milton
Friedman, Nat
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