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)

    “As a medium of exchange,... worrying regulates intimacy, and it is often an appropriate response to ordinary demands that begin to feel excessive. But from a modernized Freudian view, worrying—as a reflex response to demand—never puts the self or the objects of its interest into question, and that is precisely its function in psychic life. It domesticates self-doubt.”
    —Adam Phillips, British child psychoanalyst. “Worrying and Its Discontents,” in On Kissing, Tickling, and Being Bored, p. 58, Harvard University Press (1993)