William Vickrey's Profile
Brief about William Vickrey: By info that we know William Vickrey was born at 1914-06-21. And also William Vickrey is Canadian Educator.
Some William Vickrey's quotes. Goto "William Vickrey's quotation" section for more.The insane pursuit of the holy grail of a balanced budget in the end is going to drive the economy into a depression.
Tags: Depression, End, HolyPractically, 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.
Tags: Accept, Job, LivingBalancing a nominal budget will solve nothing, and attempting to achieve such a spurious balance will produce much mischief.
Tags: Achieve, Balance, BudgetDeficits do not in themselves produce inflation, nor does a balanced budget assure a stable price level.
Tags: Level, Nor, ThemselvesIncreasingly prices are set by sellers to raise their prices without a loss of sales sufficient to wipe out the gain.
Tags: Gain, Loss, SalesLarger deficits are necessary and proper means to mitigate unemployment as the far greater evil in terms of human welfare.
Tags: Evil, Far, HumanThe nominal budget is a poor indicator of the impact of government outlays and revenues.
Tags: Budget, Government, PoorCurrently 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.
Tags: Keep, Quite, SituationFirms 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.
Tags: Gross, Market, PastI define genuine full employment as a situation where there are at least as many job openings as there are persons seeking employment, probably calling for a rate of unemployment, as currently measured, of between 1 and 2 percent.
Tags: Between, Job, SituationIf 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.
Tags: Good, Percent, YearNearly 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.
Tags: Future, Life, WhetherThe 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.
Tags: Desire, Government, GreatThe 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.
Tags: High, Interest, PressureThere 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.
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