Pérolas de Rothbard

* THE MULTIPLIER

Using the exact same logic as the Keynesians, one could “prove” that the way to boost GDP by $100,000 is to give the reader an extra dollar bill."

* Balances of Payments

An individual’s “balance of payments” must always be in balance, so long as cash balances and credit transactions are included. In general an individual will always have huge “trade deficits” with the owners of retail shops and huge “trade surpluses” with his employer. The balance of payments for an entire nation is simply the aggregation of all the individual citizens’ balances of payments.

* DEMAND FOR MONEY UNLIMITED?

Some reject the notion of a demand for money, because “people always want more money.” Yet this is true for all producer and consumer goods! It is simply not true that people always want more money (cash); indeed, anyone who owns any nonmonetary asset demonstrates that he or she does not want “more money.”

* INTEREST AND INVESTMENT

The interest rate has no causal relation to investment; both are determined by time preferences.

* MEASUREMENT

Money is not a measure of value. When someone buys a TV for $50, we cannot conclude that he “values it” at $50; on the contrary we know that he values the TV more than he valued the $50. All price indices are arbitrary.