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William Vickrey Quotes

This paper was one of my digressions into abstract economics Picture Quote #1

It’s insane to try to balance the budget Picture Quote #1

The nominal budget is a poor indicator of the impact of government outlays and revenues Picture Quote #1

The great increase in longevity has produced a surge in the desire to accumulate assets for retirement. It has outpaced the ability of the private sector to produce assets, so we need a larger government debt Picture Quote #1

Currently a level of unemployment of 7 percent or more seems to be required to keep inflation from accelerating, a level quite unacceptable as a permanent situation Picture Quote #1

... 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 Picture Quote #1

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There is no reason inherent in the real resources available to us why we cannot move rapidly within the next two or three years to a state of genuine full employment Picture Quote #1

There is no real justification for a requirement that a budget of any sort should be balanced, except as a rallying point for those who seek to hamstring government Picture Quote #1

The insane pursuit of the holy grail of a balanced budget in the end is going to drive the economy into a depression Picture Quote #1

Balancing a nominal budget will solve nothing, and attempting to achieve such a spurious balance will produce much mischief Picture Quote #1

Practically, the desirable situation ought to be one in which any reasonably responsible person willing to accept available employment can find a job paying a living wage within 48 hours Picture Quote #1

Nearly all educational expenditure should be considered a capital outlay, whether it provides a future return in the form of enhanced taxable income or in terms of an enhanced quality of life Picture Quote #1

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Larger deficits are necessary and proper means to mitigate unemployment as the far greater evil in terms of human welfare Picture Quote #1

Increasingly prices are set by sellers to raise their prices without a loss of sales sufficient to wipe out the gain Picture Quote #1

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 Picture Quote #1

Firms would be given initial entitlements to gross markup on the basis of past performance. These entitlements would be transferable and a market in them would be developed Picture Quote #1

Deficits do not in themselves produce inflation, nor does a balanced budget assure a stable price level Picture Quote #1

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This paper was one of my digressions into abstract economics (William Vickrey Quotes) It’s insane to try to balance the budget (William Vickrey Quotes) The nominal budget is a poor indicator of the impact of government outlays and revenues (William Vickrey Quotes) The great increase in longevity has produced a surge in the desire to accumulate assets for retirement. It has outpaced the ability of the private sector to produce assets, so we need a larger government debt (William Vickrey Quotes) Currently a level of unemployment of 7 percent or more seems to be required to keep inflation from accelerating, a level quite unacceptable as a permanent situation (William Vickrey Quotes) ... 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 Quotes) There is no reason inherent in the real resources available to us why we cannot move rapidly within the next two or three years to a state of genuine full employment (William Vickrey Quotes) There is no real justification for a requirement that a budget of any sort should be balanced, except as a rallying point for those who seek to hamstring government (William Vickrey Quotes) 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 Quotes) Balancing a nominal budget will solve nothing, and attempting to achieve such a spurious balance will produce much mischief (William Vickrey Quotes) Practically, the desirable situation ought to be one in which any reasonably responsible person willing to accept available employment can find a job paying a living wage within 48 hours (William Vickrey Quotes) Nearly all educational expenditure should be considered a capital outlay, whether it provides a future return in the form of enhanced taxable income or in terms of an enhanced quality of life (William Vickrey Quotes) Larger deficits are necessary and proper means to mitigate unemployment as the far greater evil in terms of human welfare (William Vickrey Quotes) Increasingly prices are set by sellers to raise their prices without a loss of sales sufficient to wipe out the gain (William Vickrey Quotes) 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 Quotes) Firms would be given initial entitlements to gross markup on the basis of past performance. These entitlements would be transferable and a market in them would be developed (William Vickrey Quotes) Deficits do not in themselves produce inflation, nor does a balanced budget assure a stable price level (William Vickrey Quotes)