Robert C. Solomon Born : September 14, 1942Died : January 2, 2007 Browse All Authors Top 44 quotes by Robert C. Solomon There is a European Central Bank, of course, established and it has the structure similar to the Federal Reserve system, not precisely the same but similar. Robert C. Solomon federal-reservestructurecountry So if the euro, if Euroland is to become a reserve center, if the euro is to become a reserve currency, Euroland will have to have a deficit in its overall balance of payments. Robert C. Solomon currencybalancepayment Back in those days, in the fifties and sixties, countries had balance of payment's deficits or surpluses, those were reflected much more than today in movements of reserves among countries. Robert C. Solomon balancemovementcountry We also confuse trust with familiarity. Robert C. Solomon familiaritytrust Familiarity can no longer be a necessary condition for trust. Robert C. Solomon conditionsfamiliaritytrust High-class kitsch may well be "perfect" in its form and and composition: the academic painters were often masters of their craft. Thus, the accusation that a work of kitsch is based not on lack of for or aesthetic merit but on the presence of a particularly provocative emotional content. (The best art, by contrast, eschews emotional content altogether.) Robert C. Solomon emotionalclassart If a currency is to become a growing, an increasing reserve currency, there has to be not only a demand for it there has to be a supply of it. Robert C. Solomon currencydemandgrowing Chances are the movements of the euro as against the dollar will be relatively moderate. Robert C. Solomon dollarsmovementchance Some countries that are close to Europe that already hold Deutschemarks, clearly would automatically hold euros, those are countries in Eastern Europe mainly, a few countries in Africa. Robert C. Solomon easterneuropecountry Another question has been raised rather widely in Europe, in Japan as well as in the United States is what, to what extent will the euro become a reserve currency. Robert C. Solomon japanunited-stateseurope The major material advantage, financial advantage from having a reserve currency is that between 200 and 300 billion dollar bills, that may be twenty, fifty, hundred dollar bills as well as ones, exist in the world - a lot of them in Russia as you all know I'm sure. Robert C. Solomon dollar-billsrussiatwenties The prices of all imports would rise if the dollar depreciates. Robert C. Solomon depreciateimportsdollars In the United States, securities markets are much more developed than they are in Europe. Robert C. Solomon securityunited-stateseurope On private transactions, I'll just go very quickly now, a major difference between the United States and Euroland is that in Europe banks are much more important in financial transactions than in the United States. Robert C. Solomon differencesimportanteurope The dollar is currently the principal reserve currency in the world. Robert C. Solomon currencydollarsworld Trust is a skill, one that is an aspect of virtually all human practices, cultures, and relationships. Robert C. Solomon trustskillspractice There's a stability and growth pact which was agreed for the eleven countries which tries to limit the size of budget deficits among the eleven countries. Robert C. Solomon growthtryingcountry High kitsch, whatever else may be said of it, cannot be openly dismissed as cheap. Robert C. Solomon kitschsaidmay Indeed, some kitsch seems to be flawed by its very perfection, its technical virtuosity and its precise execution, its explicit knowledge of the tradition Robert C. Solomon kitschexecutionperfection The trumped-up charges against kitsch and sentimentality should disturb us and make us suspicious. Robert C. Solomon kitschsuspiciousshould
