Money for Nothing Quotes
Money for Nothing: The Scientists, Fraudsters, and Corrupt Politicians Who Reinvented Money, Panicked a Nation, and Made the World Rich
by
Thomas Levenson553 ratings, 4.00 average rating, 70 reviews
Open Preview
Money for Nothing Quotes
Showing 1-2 of 2
“As he deployed his forces, Newton imposed the same empirical rigor on his new job as he had with his pendulums and prisms. The Mint could not operate any faster than his men could spin their capstans, and every other step had to be timed to match the work of his presses. So Newton watched to “judge of the workmen’s diligence.” He saw how quickly the brutal effort needed to turn the press wore out its team. He observed just how nimble the man loading blanks and pulling finished coins from the press had to be to keep his fingers. Eventually, he identified the perfect pace: if the press thumped just slightly slower than the human heart, striking fifty to fifty-five times a minute, men and machines could stamp out coins for hours at a time. By autumn, Newton had the Mint’s output up to £100,000 every working week—a century ahead of Adam Smith, and more than double again before Henry Ford showed the world just how powerful time-and-motion rigor could be. Newton continued to drive his horses and men for the next two and a half years until the nation’s entire silver money supply had been remade. In all, under his command, the Mint recoined over £6 million—£6,722,970 0s. 2d., to be exact. As that last tuppence indicates, Newton, having spent the whole of his prior life as an essentially solitary thinker, proved to be a truly extraordinary administrator, bringing the effort home with accounts accurate to the penny and stunningly free of corruption.”
― Money For Nothing: The South Sea Bubble and the Invention of Modern Capitalism
― Money For Nothing: The South Sea Bubble and the Invention of Modern Capitalism
“THERE HE REMAINED for almost two years, cut off from every other scholar or mathematician. The isolation suited him. “In those days,” he would recall half a century later, “I was in the prime of my age for invention & minded Mathematics & Philosophy more than at any time since.”
― Money For Nothing: The South Sea Bubble and the Invention of Modern Capitalism
― Money For Nothing: The South Sea Bubble and the Invention of Modern Capitalism
