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Quote by Mervyn King

“Of all the many ways of organising banking, the worst is the one we have today.”

Author

Mervyn King is a prominent banking executive recognized for his substantial contributions to the financial industry. Born on March 30, 1948, he has held various leadership roles in the banking sector. more

“There is no reason products and services could not be swapped directly by consumers and producers through a system of direct exchange – essentially a massive barter economy. All it requires is some commonly used unit of account and adequate computing power to make sure all transactions could be settled immediately. People would pay each other electronically, without the payment being routed through anything that we would currently recognize as a bank. Central banks in their present form would no longer exist – nor would money.”

People Reason Form Used Pay Economy Products Direct Accounts Producers Consumers No Reason Massive Units Adequate Payment Transactions Computing Central Banks

Author:Mervyn King

“When banks extend loans to their customers, they create money by crediting their customers’ accounts.”

Accounts Customers Loan

Author:Mervyn King

“To set aside one’s prejudices, one’s present needs, and one’s own self interest in making a decision as a director for a company is an intellectual exercise that takes constant practice. In short, intellectual honesty is a journey and not a destination.”

Needs Self Interest Decision Company Practice Journey Honesty Exercise Directors Intellectual Prejudice Constant Destination Self Interest Intellectual Honesty

Author:Mervyn King

“Global market forces will sort out those companies that do not have sound corporate governance.”

Force Sound Company Corporate Governance

Author:Mervyn King

“The underlying intellectual argument for seeking to tax economic rents retains its force.”

Force Economic Taxes Intellectual Argument Seeking

Author:Mervyn King

“I think the first time you have to change code you’ve written previously, to add features or remove a bug, you realize that you could have done it better in the first place, that you could have found an architecture that would make it easier to transform and grow the code. And this is terribly seductive—you’re not just building a solution to a problem, you’re potentially building a beautiful solution, with ‘beautiful’ here being defined here by an aesthetics of present and future functionality. This can be a trap.”

“You collect art: you must know that the miniature artists, at the end of careers spent painting the tiniest, most exacting details that no one would ever look at, would often put their eyes out with needles. Too much beauty, yes, but also too much seeing. They were tired of seeing. The dark was safe and warm and comfortable. Blindness was a gift. I still have seeing to do.”

Knows Looks Art Stills Ends Eye Artist Dark Careers Too Much Seeing Painting Safe Comfortable Tired Details Warm Blindness Needles Miniatures

Author:Ian McDonald

“The geek of the Earth are a tribe and they are mighty.”

Earth Tribes Geek

Author:Ian McDonald

“Writing is such a singular and lonely occupation. And it's interesting; all of the work that you create is so singular.”

Writing Interesting Lonely Occupation

Author:James Avery

“The only safe thing is to take a chance.”

Chance Inspiring Safe Filmmaker Movie Take A Chance Movie Director

Author:Elaine May

Quote by Mervyn King

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