Deficit Quote by William Vickrey
“Larger deficits are necessary and proper means to mitigate unemployment as the far greater evil in terms of human welfare.”
About This Quote
Source Economic Paper: “Unemployment and Welfare” by William Vickrey, 1975
Large, targeted fiscal deficits are justified to reduce unemployment, viewed as a greater societal harm than the debt incurred.
In simple terms: Deficits can protect jobs.
Key Takeaway
Use deficits wisely to curb job loss.
Themes
economics
public policy
unemployment
fiscal policy
Mood
pragmatic
concerned
Type
economic
policy
When to use this quote
- government budgeting
- crisis response
- social safety nets
- labor market reforms
Key Concepts
macroeconomics
social welfare
Questions to Reflect On
- When are deficits too large?
- How to balance debt and employment?
A Different Perspective
Deficits risk inflation or long‑term debt issues.
