Andrew

“American Christianity is a story of perpetual upheavals in churches and individual lives. Starting with the extraordinary conversion experience, our lives are motivated by a constant expectation for the Next Big Thing. We're growing bored with the ordinary means of God's grace, attending church week in and week out. Doctrines and disciplines that have shaped faithful Christian witness in the past are often marginalized or substituted with newer fashions or methods. The new and improved may dazzle us for a moment, but soon they have become "so last year".”
― Michael S. Horton, Ordinary: Sustainable Faith in a Radical, Restless World

“1. The chief root of monetary troubles is the scientific authority the Keynesians gave the superstition that increasing the quantity of money can ensure prosperity and full employment.
2. The superstition was fought successfully by economists for two centuries of stable prices during the age of modern industrialism and the gold standard.
3. Before then inflation largely dominated history.
4. Keynes’s (macro-economic) error was to suppose that labour demand and supply can be equated (and unemployment avoided) by managing total demand. Employment depends on demand in each sector of the economy. Managing total demand by expanding money supply created only temporary and therefore unstable employment.
5. A “lost generation” of economists who have learned nothing else continues to offer the quack “full employment” remedy and to win short-term popularity for it.
6. No government, national or international, that wants to remain in office can be expected to limit the quantity of money better than a gold standard or any other (semi-) automatic system because in practice it succumbs to sectional pressures for additional cheap money and expenditure.
7. The gold standard, balanced budgets, fixed exchanges, enabled governments to resist sectional importunities. The removal of these “shackles” has enabled governments to act more irresponsibly.
8. The only hope for stable money and resistance to inflation is to protect money from politics by removing the power of government to require its citizens to use its money as the only legal tender.
9. Government would then not inflate its supply, because it would be forsaken for other currencies.
10. Inflation can therefore be stopped by introducing competition in currency. The notion that it is a proper function of government to issue the national currency is false. Citizens should be free to use and refuse any currencies they wish: politicians would then have to limit their quantities. Then inflation would be avoided.”
― Friedrich A. Hayek

“The disobedience of the first Adam was the judicial ground of our condemnation; the obedience of the last Adam is the legal ground on which God alone can justify the sinner. The substitution of Christ in the place of His people, the imputation of their sins to Him and of His righteousness to them, is the cardinal fact of the Gospel. But the principle of being saved by what another has done is only possible on the ground that we are lost through what another did. The two stand or fall together. If there had been no covenant of works there could have been no death in Adam, there could have been no life in Christ".”
― Arthur W. Pink, The Divine Covenants

“The boom brought about by the banks’ policy of extending credit must necessarily end sooner or later. Unless they are willing to let their policy completely destroy the monetary and credit system, the banks themselves must cut it short before the catastrophe occurs. The longer the period of credit expansion and the longer the banks delay in changing their policy, the worse will be the consequences of the malinvestments and of the inordinate speculation characterizing the boom; and as a result the longer will be the period of depression and the more uncertain the date of recovery and return to normal economic activity”
― Ludwig von Mises, The Austrian Theory of the Trade Cycle and Other Essays