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Quote by Sallust

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Sallust
Sallust

Sallust, born in 86 BC and died in 35 BC, was a prominent Roman politician and historian. Known for his concise and forceful writing style, as well as his profound political insights, he was an important figure during the Roman Republic. more

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“All those who, since Adam Smith, have turned their attention to Political Economy, agree that in reality we do not buy articles of consumption with money, the circulating medium with which we pay for them. We must in the first instance have bought this money itself by the sale of our produce.”

FirstsWisdomRealityPoliticalPoliticsPayAttentionEconomyProduceAgreeMediumsInstanceLiberalismArticlesAdamConsumptionPolitical Economy
Book:Letters to Thomas Robert Malthus on Political Economy and Stagnation of Commerce
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“To a proprietor of a mine, the silver money is a produce with which he buys what he has occasion for. To all those through whose hands this silver afterwards passes, it is only the price of the produce which they themselves have raised by means of their property in land, their capitals, or their industry. In selling them they in the first place exchange them for money, and afterwards they exchange the money for articles of consumption.”

FirstsMeanHandsPoliticsEconomyLandProduceMinesIndustryPropertyRaisedSellingOccasionsLiberalismSilverArticlesConsumption
Book:Letters to Thomas Robert Malthus on Political Economy and Stagnation of Commerce
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“The very foundation of private property and free contracting wears away in a nation in which its most vital, most concrete, most meaningful types of private property and free contracting disappear from the moral horizon of the people.”

PeoplePoliticsNationsMoralEconomyTypeFoundationPropertyDisappearMeaningfulLiberalismHorizonConcretePrivate PropertyMost MeaningfulContracting
Book:Capitalism, Socialism and Democracy
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“There is another method of obtaining money... It does not presuppose the existence of accumulated results of previous development, and hence may be considered as the only one which is available in strict logic. This method of obtaining money is the creation of purchasing power by banks. The form it takes is immaterial.”

MayDoeFormPoliticsResultsExistenceEconomyCreationDevelopmentLogicMethodAvailableLiberalismStrictObtainingPurchasingPurchasing Power
Author:Joseph A. Schumpeter
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“Access to the national dividend is usually to be had only on condition of some productive service previously rendered or of some product previously sold. This condition is, in this case, not yet fulfilled. It will be fulfilled only after the successful completion of the new combinations. Hence this credit will in the meantime affect the price level.”

PoliticsLevelsCasesEconomySuccessfulConditionsProductsCreditAccessCombinationLiberalismProductiveFulfilledCompletionDividends
Book:The Theory of Economic Development: An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle
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“The banker, therefore, is not so much primarily a middleman in the commodity "purchasing power" as a producer of this commodity. However, since all reserve funds and savings today usually flow to him, and the total demand for free purchasing power, whether existing or to be created, concentrates on him, he has either replaced private capitalists or become their agent; he has himself become the capitalist par excellence.”

TodayPoliticsEconomyDemandFlowExcellenceProducersSavingAgentsLiberalismFundCapitalistReservesReplacedCommoditySavingsBankersPurchasingPurchasing PowerMiddlemen
Book:The Theory of Economic Development: An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle
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