... often analysis seems to be based on the assumption that future economic output is almost entirely determined by inexorable economic forces independently of government policy so that devoting more resources to one use inevitably detracts from availability for another. — William Vickrey Copy Share Image
The supply-side effect of a restrictive monetary policy is likely to be perverse, in that high interest rates enter into costs and thus exert… — William Vickrey Copy Share Image
Currently a level of unemployment of 7% or more seems to be required to keep inflation from accelerating, a level quite unacceptable as a… — William Vickrey Copy Share Image
Deficits do not in themselves produce inflation, nor does a balanced budget assure a stable price level. — William Vickrey Copy Share Image
Balancing a nominal budget will solve nothing, and attempting to achieve such a spurious balance will produce much mischief. — William Vickrey Copy Share Image
I define genuine full employment as a situation where there are at least as many job openings as there are persons seeking employment, probably… — William Vickrey Copy Share Image
There is no real justification for a requirement that a budget of any sort should be balanced, except as a rallying point for those… — William Vickrey Copy Share Image
Firms would be given initial entitlements to gross markup on the basis of past performance, adjusted by changes in labor and capital inputs. This… — William Vickrey Copy Share Image
The great increase in longevity has produced a surge in the desire to accumulate assets for retirement. It has outpaced the ability of the… — William Vickrey Copy Share Image
The insane pursuit of the holy grail of a balanced budget in the end is going to drive the economy into a depression. — William Vickrey Copy Share Image
To stick to the present situation would be something like a man who was observed in Times Square looking earnestly along the pavement. He… — William Vickrey Copy Share Image
The nominal budget is a poor indicator of the impact of government outlays and revenues. — William Vickrey Copy Share Image
Larger deficits are necessary and proper means to mitigate unemployment as the far greater evil in terms of human welfare. — William Vickrey Copy Share Image
Practically, the desirable situation ought to be one in which any reasonably responsible person willing to accept available employment can find a job paying… — William Vickrey Copy Share Image
