--- title: "Meaning & Key Takeaway of: We must not forget that … monetary policy…" description: "\"We must not forget that … monetary policy all over the world has followed the advice of the stabilizers. It is high time that their influence, which ha..." image: "https://sms4smile.com/quotes/i/ccb/friedrich-august-von-hayek-141_advice_we-must-not-forget-that-monetary-policy_2278052.jpg" --- # We must not forget that … monetary policy all over the… ![“We must not forget that … monetary policy all over the world has followed the advice of the stabilizers. It is high time that their influence, which has already done harm enough, should be overthrown.” quote by Friedrich August von Hayek](https://sms4smile.com/quotes/i/ccb/friedrich-august-von-hayek-141_advice_we-must-not-forget-that-monetary-policy_2278052.jpg) [Download](https://sms4smile.com/quotes/i/ccb/friedrich-august-von-hayek-141_advice_we-must-not-forget-that-monetary-policy_2278052.jpg) [Open image](https://sms4smile.com/quotes/i/ccb/friedrich-august-von-hayek-141_advice_we-must-not-forget-that-monetary-policy_2278052.jpg) > “We must not forget that … monetary policy all over the world has followed the advice of the stabilizers. It is high time that their influence, which has already done harm enough, should be overthrown.” [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Monetary policy has been overly influenced by stabilizers, causing harm; their dominance should end. **In simple terms:** Stabilizers' control of money policy is harmful. Key Takeaway Advocate for independent monetary policy. Themes economics policy stability freedom Mood critical cautious Type analytical philosophical When to use this quote - government budgeting - financial regulation - investment strategy Key Concepts central banking inflation control market dynamics Questions to Reflect On - What alternatives exist? - Who benefits from current policies? A Different Perspective Changing entrenched systems is politically difficult. ★ ★ ★ ★ ★ No ratings yet [Advice](https://sms4smile.com/quotes/about/advice/) [Customer](https://sms4smile.com/quotes/about/customer/) [Done](https://sms4smile.com/quotes/about/done/) [Enough](https://sms4smile.com/quotes/about/enough/) [Forget](https://sms4smile.com/quotes/about/forget/) [Forget Monetary](https://sms4smile.com/quotes/about/forget-monetary-5305281/) [Harm](https://sms4smile.com/quotes/about/harm/) [Harm Overthrown](https://sms4smile.com/quotes/about/harm-overthrown-5305280/) [Influence](https://sms4smile.com/quotes/about/influence/) [Monetary](https://sms4smile.com/quotes/about/monetary/) [Monetary policy](https://sms4smile.com/quotes/about/monetary-policy/) [Overthrown](https://sms4smile.com/quotes/about/overthrown-360963/) [Policy](https://sms4smile.com/quotes/about/policy/) [Should](https://sms4smile.com/quotes/about/should/) [Time](https://sms4smile.com/quotes/about/time/) [World](https://sms4smile.com/quotes/about/world/) ## Related quotes > [Inflation is probably the most important single factor in that vicious circle wherein one kind of government action makes more and more government control…](https://sms4smile.com/quotes/friedrich-august-von-hayek/inflation-is-probably-the-most-important-single-factor-in-that/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [Europe unified its monetary policy through the euro before it unified politically, therefore sustaining member countries' abilities to pursue the kind of independent fiscal…](https://sms4smile.com/quotes/amity-shlaes/europe-unified-its-monetary-policy-through-the-euro-before-it-unified/) [Amity Shlaes](https://sms4smile.com/quotes/author/amity-shlaes/) > [The monetary policy of the United States has a major impact on global liquidity and capital flows and therefore, the liquidity of the U.S.…](https://sms4smile.com/quotes/hu-jintao/the-monetary-policy-of-the-united-states-has-a-major-impact-on-global/) [Hu Jintao](https://sms4smile.com/quotes/author/hu-jintao/) > [I don't want Congress setting monetary policy.](https://sms4smile.com/quotes/richard-shelby/i-don-t-want-congress-setting-monetary-policy/) [Richard Shelby](https://sms4smile.com/quotes/author/richard-shelby/) > [If you continue to use monetary policy to attempt to promote full employment the result would be that you would have higher inflation, and…](https://sms4smile.com/quotes/milton-friedman/if-you-continue-to-use-monetary-policy-to-attempt-to-promote-full/) [Milton Friedman](https://sms4smile.com/quotes/author/milton-friedman/) > [The risk exists that, with aggregate demand exhibiting considerable momentum, output could overshoot its sustainable path, leading ultimately in the absence of countervailing monetary…](https://sms4smile.com/quotes/ben-bernanke/the-risk-exists-that-with-aggregate-demand-exhibiting-considerable/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) > [Ever since its founding in 1913, the Fed has described itself as an "independent" agency operated by selfless public servants striving to "fine-tune" the…](https://sms4smile.com/quotes/thomas-dilorenzo/ever-since-its-founding-in-1913-the-fed-has-described-itself-as-an/) [Thomas DiLorenzo](https://sms4smile.com/quotes/author/thomas-dilorenzo/) > [Quantitative easing is just the latest chapter in the Federal Reserve’s hundred-year history of failure. (...) The American people have suffered long enough under…](https://sms4smile.com/quotes/ron-paul/quantitative-easing-is-just-the-latest-chapter-in-the-federal-reserve/) [Ron Paul](https://sms4smile.com/quotes/author/ron-paul/) > [I'm not trying to be diplomatic. I'm trying to be more nuanced and realistic. I think there has to be a serious examination of…](https://sms4smile.com/quotes/stephen-harper/i-m-not-trying-to-be-diplomatic-i-m-trying-to-be-more-nuanced-and/) [Stephen Harper](https://sms4smile.com/quotes/author/stephen-harper/) > [The excellence of metallic money in free circulation consists in the fact that it renders impossible the abuse of the power of the government…](https://sms4smile.com/quotes/faustino-ballve/the-excellence-of-metallic-money-in-free-circulation-consists-in-the/) [Faustino Ballve](https://sms4smile.com/quotes/author/faustino-ballve/) > [The supply-side effect of a restrictive monetary policy is likely to be perverse, in that high interest rates enter into costs and thus exert…](https://sms4smile.com/quotes/william-vickrey/the-supply-side-effect-of-a-restrictive-monetary-policy-is-likely-to/) [William Vickrey](https://sms4smile.com/quotes/author/william-vickrey/) > [I've always believed in expansionary monetary policy and if necessary fiscal policy when the economy is depressed.](https://sms4smile.com/quotes/paul-krugman/i-ve-always-believed-in-expansionary-monetary-policy-and-if-necessary/) [Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/) > [That means following a very restrictive fiscal and monetary policy which will squeeze the monopolies and cut their subsidies. On the micro level we…](https://sms4smile.com/quotes/vaclav-klaus/that-means-following-a-very-restrictive-fiscal-and-monetary-policy/) [Vaclav Klaus](https://sms4smile.com/quotes/author/vaclav-klaus/) > [Monetary policy transmission encompasses the whole continuum of interest rates; of course, the central bank only determines the overnight policy rate.](https://sms4smile.com/quotes/urjit-patel/monetary-policy-transmission-encompasses-the-whole-continuum-of/) [Urjit Patel](https://sms4smile.com/quotes/author/urjit-patel/) > [It's true that monetary policy was too lax for too long, and the government encouraged lending to people who were unlikely to repay their…](https://sms4smile.com/quotes/paul-singer/it-s-true-that-monetary-policy-was-too-lax-for-too-long-and-the/) [Paul Singer](https://sms4smile.com/quotes/author/paul-singer/) ## More by Friedrich August von Hayek > [The system of private property is the most important guaranty of freedom, not only for those who own property, but scarcely less for those…](https://sms4smile.com/quotes/friedrich-august-von-hayek/the-system-of-private-property-is-the-most-important-guaranty-of/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [By the time any view becomes a majority view, it is no longer the best view: somebody will already have advanced beyond the point…](https://sms4smile.com/quotes/friedrich-august-von-hayek/by-the-time-any-view-becomes-a-majority-view-it-is-no-longer-the-best/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [Freedom can be preserved only if it is treated as a supreme principle which must not be sacrificed for particular advantages.](https://sms4smile.com/quotes/friedrich-august-von-hayek/freedom-can-be-preserved-only-if-it-is-treated-as-a-supreme-principle/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [Should our moral beliefs really prove to be dependent on factual assumptions shown to be incorrect, it would be hardly moral to defend them…](https://sms4smile.com/quotes/friedrich-august-von-hayek/should-our-moral-beliefs-really-prove-to-be-dependent-on-factual/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [It is true that the virtues which are less esteemed and practiced now--independence, self-reliance, and the willingness to bear risks, the readiness to back…](https://sms4smile.com/quotes/friedrich-august-von-hayek/it-is-true-that-the-virtues-which-are-less-esteemed-and-practiced-now/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [Unlike the rationalism of the French Revolution, true liberalism has no quarrel with religion, and I can only deplore the militant and essentially illiberal…](https://sms4smile.com/quotes/friedrich-august-von-hayek/unlike-the-rationalism-of-the-french-revolution-true-liberalism-has/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [We must make the building of a free society once more an intellectual adventure, a deed of courage… Unless we can make the philosophic…](https://sms4smile.com/quotes/friedrich-august-von-hayek/we-must-make-the-building-of-a-free-society-once-more-an-intellectual/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [The central problem of management is how spontaneous interaction of people within a firm, each possessing only bits of knowledge, can bring about the…](https://sms4smile.com/quotes/friedrich-august-von-hayek/the-central-problem-of-management-is-how-spontaneous-interaction-of/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [The discussions of every age are filled with the issues on which its leading schools of thought differ. But the general intellectual atmosphere of…](https://sms4smile.com/quotes/friedrich-august-von-hayek/the-discussions-of-every-age-are-filled-with-the-issues-on-which-its/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [The Nobel Prize confers on an individual an authority which in economics no man ought to possess.](https://sms4smile.com/quotes/friedrich-august-von-hayek/the-nobel-prize-confers-on-an-individual-an-authority-which-in/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [ \[Socialistic\] economic planning, regulation, and intervention pave the way to totalitarianism by building a power structure that will inevitably be seized by the most… ](https://sms4smile.com/quotes/friedrich-august-von-hayek/socialistic-economic-planning-regulation-and-intervention-pave-the/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [It is rather a problem of how to secure the best use of resources known to any of the members of society, for ends…](https://sms4smile.com/quotes/friedrich-august-von-hayek/it-is-rather-a-problem-of-how-to-secure-the-best-use-of-resources/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [The state itself becomes more and more identified with the interests of those who run things than with the interests of the people in…](https://sms4smile.com/quotes/friedrich-august-von-hayek/the-state-itself-becomes-more-and-more-identified-with-the-interests/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [We must face the fact that the preservation of individual freedom is incompatible with a full satisfaction of our views of distributive justice.](https://sms4smile.com/quotes/friedrich-august-von-hayek/we-must-face-the-fact-that-the-preservation-of-individual-freedom-is/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [Human envy is certainly not one of the sources of discontent that a free society can eliminate. It is probably one of the essential…](https://sms4smile.com/quotes/friedrich-august-von-hayek/human-envy-is-certainly-not-one-of-the-sources-of-discontent-that-a/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) [Explore all 244 Friedrich August von Hayek quotes ](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) ## More Advice quotes > [The sensible person is always serious about sensible advice.](https://sms4smile.com/quotes/mak-786/the-sensible-person-is-always-serious-about-sensible-advice/) [Mak\_786](https://sms4smile.com/quotes/author/mak-786/) > [I ask for tips, for advice. What I have also learnt is that I need to do things that are good for me. In…](https://sms4smile.com/quotes/matthijs-de-ligt/i-ask-for-tips-for-advice-what-i-have-also-learnt-is-that-i-need-to/) [Matthijs de Ligt](https://sms4smile.com/quotes/author/matthijs-de-ligt/) > [Don't get too attached to someone you know you can't be together with.](https://sms4smile.com/quotes/anurag-prakash-ray/don-t-get-too-attached-to-someone-you-know-you-can-t-be-together-with/) [Anurag Prakash Ray](https://sms4smile.com/quotes/author/anurag-prakash-ray/) > [A low-minded person should not be given good advice.](https://sms4smile.com/quotes/chanakya/a-low-minded-person-should-not-be-given-good-advice/) [Chanakya](https://sms4smile.com/quotes/author/chanakya/) > [The worst advice? 'Don't listen to the critics.' I think that you really ought to listen to the critics, because sometimes they're telling you…](https://sms4smile.com/quotes/stephen-king/the-worst-advice-don-t-listen-to-the-critics-i-think-that-you-really/) [Stephen King](https://sms4smile.com/quotes/author/stephen-king/) > [When I was in my twenties and just so sexually prolific, the first time I went to Machu Picchu, this guy, a spiritual teacher,…](https://sms4smile.com/quotes/woody-harrelson/when-i-was-in-my-twenties-and-just-so-sexually-prolific-the-first/) [Woody Harrelson](https://sms4smile.com/quotes/author/woody-harrelson/) > [The best way to succeed in this world is to act on the advice you give to others.](https://sms4smile.com/quotes/napoleon-hill/the-best-way-to-succeed-in-this-world-is-to-act-on-the-advice-you/) [Napoleon Hill](https://sms4smile.com/quotes/author/napoleon-hill/) > [Time is priceless. You have it, but you don't own it. You spend it, but you can't keep it. And once it's gone, there's…](https://sms4smile.com/quotes/anonymous/time-is-priceless-you-have-it-but-you-don-t-own-it-you-spend-it-but/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [You don't need to take a persons advice to make him feel good, just ask him for it.](https://sms4smile.com/quotes/laurence-j-peter/you-don-t-need-to-take-a-persons-advice-to-make-him-feel-good-just/) [Laurence J. Peter](https://sms4smile.com/quotes/author/laurence-j-peter/) > [Some of the things that we hold onto the most, are the things that we need to let go of.](https://sms4smile.com/quotes/ryaj-ablando-catayas/some-of-the-things-that-we-hold-onto-the-most-are-the-things-that-we/) [Ryaj Ablando Catayas](https://sms4smile.com/quotes/author/ryaj-ablando-catayas/) > [“If your clothes are enough to drive would-be friends away, they're not the kind of friends you want." Typical mother advice. Sweet, honest, and…](https://sms4smile.com/quotes/aprilynne-pike/if-your-clothes-are-enough-to-drive-would-be-friends-away-they-re-not/) [Aprilynne Pike](https://sms4smile.com/quotes/author/aprilynne-pike/) > [“My kingdom not for a horse, but for a good piece of advice!”](https://sms4smile.com/quotes/mehmet-murat-ildan/my-kingdom-not-for-a-horse-but-for-a-good-piece-of-advice/) [Mehmet Murat ildan](https://sms4smile.com/quotes/author/mehmet-murat-ildan/) > [I always advise people not to act upon the advice that I give them.](https://sms4smile.com/quotes/vikrant-parsai/i-always-advise-people-not-to-act-upon-the-advice-that-i-give-them/) [Vikrant Parsai](https://sms4smile.com/quotes/author/vikrant-parsai/) > [ \[A\]s you partake of the world's bill of fare, that's darned good advice to follow. Do a lot of spitting out the hot air.… ](https://sms4smile.com/quotes/dr-seuss/a-s-you-partake-of-the-world-s-bill-of-fare-that-s-darned-good-advice/) [Dr. Seuss](https://sms4smile.com/quotes/author/dr-seuss/) > [My relationship with Ibrahimovic was completely neutral. He is not the type of player to approach the younger players and give them advice. He…](https://sms4smile.com/quotes/kingsley-coman/my-relationship-with-ibrahimovic-was-completely-neutral-he-is-not-the/) [Kingsley Coman](https://sms4smile.com/quotes/author/kingsley-coman/) [Browse all 8,535 Advice quotes ](https://sms4smile.com/quotes/about/advice/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "We must not forget that … monetary policy all over the world has followed the advice of the stabilizers. It is high time that their influence, which has already done harm enough, should be overthrown.", "creator": { "@type": "Person", "name": "Friedrich August von Hayek" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/friedrich-august-von-hayek/we-must-not-forget-that-monetary-policy-all-over-the-world-has/", "about": { "@type": "Thing", "name": "Advice" }, "@id": "https://sms4smile.com/quotes/friedrich-august-von-hayek/we-must-not-forget-that-monetary-policy-all-over-the-world-has/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/ccb/friedrich-august-von-hayek-141_advice_we-must-not-forget-that-monetary-policy_2278052.jpg", "contentUrl": "https://sms4smile.com/quotes/i/ccb/friedrich-august-von-hayek-141_advice_we-must-not-forget-that-monetary-policy_2278052.jpg", "url": "https://sms4smile.com/quotes/i/ccb/friedrich-august-von-hayek-141_advice_we-must-not-forget-that-monetary-policy_2278052.jpg", "width": 1080, "height": 1080, "caption": "“We must not forget that … monetary policy all over the world has followed the advice of the stabilizers. It…” — Friedrich August von Hayek", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "Friedrich August von Hayek", "item": "https://sms4smile.com/quotes/author/friedrich-august-von-hayek/" }, { "@type": "ListItem", "position": 4, "name": "We must not forget that …...", "item": "https://sms4smile.com/quotes/friedrich-august-von-hayek/we-must-not-forget-that-monetary-policy-all-over-the-world-has/" } ], "@id": "https://sms4smile.com/quotes/friedrich-august-von-hayek/we-must-not-forget-that-monetary-policy-all-over-the-world-has/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```