Milton Friedman book Capitalism and Freedom
Source: Capitalism and Freedom (1962), Ch. 2, The Role of Government in a Free Society, p. 28
“Exchange is all about equivalence.”
Source: Debt: The First 5,000 Years (2011), Chapter Five, "A Brief Treatise on the Moral Grounds of Moral Relations", p. 103
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David Graeber55
American anthropologist and anarchist 1961Related quotes
Jacques Ellul (1912–1994) French sociologist, technology critic, and Christian anarchist
The Betrayal by Technology (1993 film)
“All human activities are equivalent … and … all are on principle doomed to failure.”
Jean Paul Sartre book Being and Nothingness
Conclusion, II
Being and Nothingness (1943)
Aaron C. Brown (1956) American financial analyst
Source: The Poker Face of Wall Street (2006), Chapter 5, Pokernomics, p. 127
“One man is equivalent to all Creation. One man is a World in miniature.”
Albert Pike (1809–1891) Confederate States Army general and Freemason
Avot of Rabbi Natan (c. 700 – 900)
Misattributed
“By virtue of exchange, one man's prosperity is beneficial to all others.”
Frédéric Bastiat (1801–1850) French classical liberal theorist, political economist, and member of the French assembly
Economic harmonies, par. 4.110.
“Labour, therefore, is the real measure of the exchangeable value of all commodities”
Adam Smith (1723–1790) Scottish moral philosopher and political economist
Source: The Wealth of Nations (1776), Book I, Chapter V.
Context: Every man is rich or poor according to the degree in which he can afford to enjoy the necessaries, conveniences, and amusements of human life. But after the division of labour has once thoroughly taken place, it is but a very small part of these with which a man's own labour can supply him. The far greater part of them he must derive from the labour of other people, and he must be rich or poor according to the quantity of that labour which he can command, or which he can afford to purchase. The value of any commodity, therefore, to the person who possesses it, and who means not to use or consume it himself, but to exchange it for other commodities, is equal to the quantity of labour which it enables him to purchase or command. Labour, therefore, is the real measure of the exchangeable value of all commodities.
“Discussion is an exchange of knowledge; argument an exchange of ignorance.”
Robert Quillen (1887–1948) American journalist
As quoted in The School Day Begins : A Guide to Opening Exercises, Grades Kindergarten - 12 (1967) by Agnes Krarup