If unemployment could be brought down to say 2 percent at the cost of an assured steady rate of inflation of 10 percent per year, or even 20 percent, this would be a good bargain. — 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
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
Deficits do not in themselves produce inflation, nor does a balanced budget assure a stable price level. — William Vickrey Copy Share
Balancing a nominal budget will solve nothing, and attempting to achieve such a spurious balance will produce much mischief. — William Vickrey Copy Share
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
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
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
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
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
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
The nominal budget is a poor indicator of the impact of government outlays and revenues. — William Vickrey Copy Share
Larger deficits are necessary and proper means to mitigate unemployment as the far greater evil in terms of human welfare. — William Vickrey Copy Share
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
