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Balancing a nominal budget will solve nothing, and attempting to achieve such a spurious balance will produce much mischief.
I can see a day soon where you'll create your own college degree by taking the best online courses from the best professors from around the world - some computing from Stanford, some entrepreneurship from Wharton, some ethics from Brandeis, some literature from Edinburgh - paying only the nominal fee for the certificates of completion.
It is with government paper, and bank paper, as it is with the paper of private persons; that is, it is worth just what can be delivered in redemption of it, and no more. We all understand that the notes of the Astors, and Stewarts, and Vanderbilts, though issued by millions, and tens of millions, are really worth their nominal values.
Although most Americans apparently loathe inflation, Yale economists have argued that a little inflation may be necessary to grease the wheels of the labor market and enable efficiency-enhancing changes in relative pay to occur without requiring nominal wage cuts by workers.
I maintain an ongoing survey of Internet Publishing and self publishing, so that it is now possible for any writer with a book to get it published at nominal cost or free, and to have it on sale at booksellers like Amazon.com.
Sovereignty is a word that is used often but it has really no specific meaning. Sovereignty today is nominal. Any number of countries that are sovereign are sovereign only nominally and relatively.
The most remarkable thing about Calvin Coolidge is that he served for 67 months, and when he left office, the budget was lower than he came in. In real terms - in nominal terms with vanilla on top - he cut the budget year over year.
No one will lend at a negative interest rate; potential creditors will simply choose to hold cash, which pays zero nominal interest.
To be sure, faster growth in nominal labor compensation does not necessarily portend higher inflation.
I feel like being a door person was like college in a sense. I could watch comedy on a professional level seven nights a week without paying, and they would pay me a nominal amount of money to be there.
I was raised in a nominal Roman Catholic home, but without any really strong faith there.
My mother was an unbeliever - and still is. My father was a nominal Catholic. We would go in to church at the last minute before the gospel reading, take Communion, and walk right out again.
The nominal budget is a poor indicator of the impact of government outlays and revenues.
I don't hold America responsible for the largely oppressive governments in the 22 Arab countries. There are repressive Arab governments that are our allies and there are those that are our nominal enemies. It doesn't make a whole lot of difference to what extent we're involved in propping up those governments.
In New Classical theory, periods of declining employment - business cycle downturns - may be caused by an unexpected decline in aggregate demand, which leaves workers mistakenly holding out for nominal wages that exceed the new market-clearing level.
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