Home / Quotes / Quote by Carl Menger

Quote by Carl Menger

“Money is not an invention of the state. It is not the product of a legislative act. Even the sanction of political authority is not necessary for its existence. Certain commodities came to be money quite naturally, as the result of economic relationships that were independent of the power of the state.”

Author

Carl Menger

Carl Menger (February 23, 1840 - February 26, 1921) was an Austrian economist and one of the founders of the Austrian School of economics. He made significant contributions to economic methodology and price theory, particularly with his theory of marginal utility. more

“To the economically illiterate, if some company makes a million dollars in profit, this means that their products cost a million dollars more than they would have without profits. It never occurs to such people that these products might cost several million dollars more without the incentives to be efficient created by the prospect of profits.”

People Ifs Mean Might Company Millions Products Cost Dollars Profit Efficient Incentives Million Dollars Illiterate

Author:Thomas Sowell

“If we all could be a true friend to someone, praying and encouraging one person somehow, that's a first step in being part of making the world a better place.”

Ifs World Firsts Persons Steps Praying First Steps Better Place True Friend

Author:Nick Vujicic

“Everybody should do in their lifetime, sometime, two things. One is to consider death...to observe skulls and skeletons and to wonder what it will be like to go to sleep and never wake up-never. That is a most gloomy thing for contemplation; it's like manure. Just as manure fertilizes the plants and so on, so the contemplation of death and the acceptance of death is very highly generative of creating life. You'll get wonderful things out of that.”