Liquidity Preference Function

Famous quotes containing the words preference and/or function:

    “He that has his chains knocked off, and the prison doors set open to him, is perfectly at liberty, because he may either go or stay, as he best likes; though his preference be determined to stay, by the darkness of the night, or illness of the weather, or want of other lodging. He ceases not to be free, though the desire of some convenience to be had there absolutely determines his preference, and makes him stay in his prison.”
    —John Locke (1632–1704)

    “Uses are always much broader than functions, and usually far less contentious. The word function carries overtones of purpose and propriety, of concern with why something was developed rather than with how it has actually been found useful. The function of automobiles is to transport people and objects, but they are used for a variety of other purposes—as homes, offices, bedrooms, henhouses, jetties, breakwaters, even offensive weapons.”
    —Frank Smith (b. 1928)