Quotes about money

Aside from the equation it draws between making money and being good, the modern ideal of a successful life posits a further linkage between making money and being happy. This latter association rests on … assumptions. First, it is presumed that identifying what will make us happy is not an inordinately difficult task. Just as our bodies typically know what they need in order to be healthy… so, too, the theory goes, can our minds to be relied upon to understand what we should aim for so as to flourish as whole human beings. … Second, it is taken for granted that the enormous range of … consumer goods available to modern civilization is not merely a gaudy, enervating show responsible for stoking desires bearing little relevance to our welfare, but is, rather, a helpful array of potentialities and products, capable of satisfying some of our most important needs.

Happiness may be difficult to obtain. The obstacles are not primarily financial.

Mencius went to see King Huei of Liang. The king said, "Venerable sir, since you have not counted it far to come here, a distance of a thousand li, may I presume that you are provided with counsels to profit my kingdom?" Mencius replied, "Why must your Majesty use that word "profit"? What I am provided with, are counsels to benevolence and righteousness, and these are my only topics."

Money is a symbol of what others in your society owe you, or your claim on particular amounts of the society's resources.

How money and other financial claims... are created, sold and bought is... . ...[C]laims ...a lot of economics is (or should be) about those.

Unlike what neo-liberals say, market and democracy clash at a fundamental level. Democracy runs on the principle of 'one man (one person), one vote'. The market runs on the principle of 'one dollar, one vote'. Naturally, the former gives equal weight to each person, regardless of the money she/he has. The latter give greater weight to richer people. Therefore, democratic decisions usually subvert the logic of market.

Democracy and markets are both fundamental building blocks for a decent society. But they clash at a fundamental level. We need to balance them.

There is nothing more nervous than a million dollars - it moves very fast, and it doesn't speak any language.

He now suspected that every human being who knew how high-frequency traders made money was making too much money doing it to stop and explain what was going on.

The relationship of the big Wall Street banks to the high frequency traders, when you think about it, was a bit like the relationship of the entire society to the big Wall Street banks. When things went well, the HFT guys took most of the gains; when things went badly, the HFT guys vanished and the banks took the losses.

The more money to be made gaming the financial markets, the more people would decide they were put on earth to game the financial markets – and create romantic narratives to explain to themselves why a life spent gaming the financial markets is a purposeful life.

The U.S. stock market was now a class system, rooted in speed, of haves and have-nots. The haves paid for nanoseconds; the have-nots had no idea that a nanosecond had value. The haves enjoyed a perfect view of the market; the have-nots never saw the market at all. What had once been the world’s most public, most democratic, financial market had become, in spirit, something like a private viewing of a stolen work of art.

A thought crossed his mind: How do you make poor people feel wealthy when wages are stagnant? You give them cheap loans.