Increasingly prices are set by sellers to raise their prices without a loss of sales sufficient to wipe out the gain.
More Quotes from 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.
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.
Deficits do not in themselves produce inflation, nor does a balanced budget assure a stable price level.
We felt it was time we received a report card from the public about how they feel about their court system so we can be guided about what to focus on in the future.
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.
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If the Romans had been obliged to learn Latin, they would never have found time to conquer the world.
I have no academic qualifications whatsoever.
He was a very generous soul and was exceptionally dedicated to the medium of photography.