32 Quotes by William Vickrey

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.

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 inflationary pressure.

The insane pursuit of the holy grail of a balanced budget in the end is going to drive the economy into a depression.

The nominal budget is a poor indicator of the impact of government outlays and revenues.

It's insane to try to balance the budget.

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.

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.

This paper was one of my digressions into abstract economics.

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.