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William Vickrey
32quotes
William Vickrey: A Pioneer in Economics and Social Justice
Full Name and Common Aliases
William Spence Vickrey was born on June 21, 1914, in Victoria, British Columbia, Canada. He is commonly known as Bill Vickrey.
Birth and Death Dates
June 21, 1914 – March 11, 1996
Nationality and Profession(s)
Canadian economist, Nobel laureate, and social activist
Early Life and Background
Vickrey grew up in a family that valued education and intellectual pursuits. His father was a civil engineer, and his mother was a mathematician. This exposure to mathematics and science laid the foundation for Vickrey's future career in economics. He attended Victoria's St. Andrew's School and later enrolled at the University of British Columbia (UBC), where he earned his Bachelor of Arts degree in 1935.
Major Accomplishments
Vickrey is best known for his groundbreaking work on congestion pricing, which involves charging drivers a fee to enter congested areas during peak hours. This innovative approach has been implemented in several cities worldwide, including Singapore and Stockholm. In addition to his contributions to transportation economics, Vickrey made significant contributions to public finance, taxation, and social justice.
Notable Works or Actions
Some of Vickrey's notable works include:
"A Monetary Reform for Canada" (1937), a proposal for a more stable currency system in Canada
"The Road Pricing Problem" (1959), a seminal paper that introduced the concept of congestion pricing
* "Peace, War and Economics" (1996), his Nobel Prize acceptance speech
Vickrey's commitment to social justice was evident throughout his career. He served as the chairman of the Ontario Economic Council from 1964 to 1972 and played a key role in shaping Canada's economic policies during this period.
Impact and Legacy
William Vickrey's work has had a lasting impact on transportation planning, public finance, and social policy. His legacy extends beyond his academic contributions, as he inspired a new generation of economists and policymakers committed to creating more equitable societies.
Why They Are Widely Quoted or Remembered
Vickrey is widely quoted and remembered for his thought-provoking ideas on economics, taxation, and social justice. His work continues to influence contemporary debates on issues like climate change, urban planning, and income inequality. As a pioneer in the field of transportation economics, Vickrey's vision for more efficient and sustainable transportation systems remains relevant today.
In conclusion, William Vickrey was a visionary economist who dedicated his life to creating positive change through innovative ideas and public service. His legacy serves as a reminder that individuals can make a lasting impact on society by applying their knowledge and expertise towards the greater good.
Quotes by William Vickrey
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To stick to the present situation would be something like a man who was observed in Times Square looking earnestly along the pavement. He was asked what he was looking for. He said “I lost my watch.”
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It (land value taxation) guarantees that no one dispossess fellow citizens by obtaining a disproportionate share of what nature provides for humanity.
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... 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.
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Economists are almost unanimous in conceding that the land tax has no adverse side effects. ...Landowners ought to look at both sides of the coin. Applying a tax to land values also means removing other taxes. This would so improve the efficiency of a city that land values would go up more than the increase in taxes on land.
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To stick to the present situation would be something like a man who was observed in Times Square looking earnestly along the pavement. He was asked what he was looking for. He said "I lost my watch."
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Currently a level of unemployment of 7% or more seems to be required to keep inflation from accelerating, a level quite unacceptable as a permanent situation.
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I had had intimations that (a nomination was) in the works for the Nobel Prize, ... I didn't put my chances more than about 50/50.
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The bottom line for me out of this is that from 1992 to today, researchers can't find a defining reason why the public view of the courts has improved. The only thing that has changed is the way we do business. The good news is we can make a difference.
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Ten billion dollars less of deficit means $10 billion less of disposable income ... and a loss of at least 100,000 jobs.
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This news reflects the great strides that state courts have made to reach out to the public in the past decade.
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