“Unfortunately, once an economy is geared to expansion, the means rapidly turn into an end and "the going becomes the goal." Even more unfortunately, the industries that are favored by such expansion must, to maintain their output, be devoted to goods that are readily consumable either by their nature, or because they are so shoddily fabricated that they must soon be replaced. By fashion and built-in obsolescence the economies of machine production, instead of producing leisure and durable wealth, are duly cancelled out by the mandatory consumption on an even larger scale.” MeanEndsTurnsGoalWealthEconomyFashionIndustryBuiltMachinesProductionsScalesGoodsLeisureDevotedConsumptionReplacedExpansionOutputObsolescence Book:THE CITY IN HISTORY Source: THE CITY IN HISTORY
“To combat depression by a forced credit expansion is to attempt to cure the evil by the very means which brought it about; because we are suffering from a misdirection of production, we want to create further misdirection -- a procedure which can only lead to a much more severe crisis as soon as the credit expansion comes to an end.” WantMeanEndsSufferingEvilEconomicsCrisisProductionsCreditCuresDeceptionCombatExpansionSevereBankingProceduresVery MeanMisdirection Author:Friedrich August von Hayek
“Inflation is really like drugging the baby universe with speed. The supercool union of the hitherto unfriendly gods was blessed by amphetamine, and this made the universe inflate rather than just expand. The early orgy of expansion in the universe comes to an abrupt end as soon as the supercooled particle stuff finally freezes.” MadeEndsUniverseStuffBabyBlessedUnionsSpeedExpansionInflationParticlesFreezeUnfriendlyAmphetamines Book:Faster Than The Speed Of Light: The Story of a Scientific Speculation Source: Faster Than The Speed Of Light: The Story of a Scientific Speculation