History
The equation of exchange was stated by John Stuart Mill who expanded on the ideas of David Hume. The algebraic formulation comes from Irving Fisher, 1911.
Read more about this topic: Equation Of Exchange
Famous quotes containing the word history:
“Man watches his history on the screen with apathy and an occasional passing flicker of horror or indignation.”
—Conor Cruise O’Brien (b. 1917)
“Those who weep for the happy periods which they encounter in history acknowledge what they want; not the alleviation but the silencing of misery.”
—Albert Camus (1913–1960)
“For a transitory enchanted moment man must have held his breath in the presence of this continent, compelled into an aesthetic contemplation he neither understood nor desired, face to face for the last time in history with something commensurate to his capacity for wonder.”
—F. Scott Fitzgerald (1896–1940)