Larger deficits are necessary and proper means to mitigate unemployment as the far greater evil in terms of human welfare.
More Quotes from William Vickrey:
Increasingly prices are set by sellers to raise their prices without a loss of sales sufficient to wipe out the gain.William Vickrey
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.
William Vickrey
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
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.
William Vickrey
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
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
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I find the great thing in this world is not so much where we stand, as in what direction we are moving: To reach the port of heaven, we must sail sometimes with the wind and sometimes against it, but we must sail, and not drift, nor lie at anchor.
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But just maybe sometimes being even more patient. Even though I thought I did that much better this year, and sometimes, you know, make my opponents play that one extra ball, and just knowing how to play the big points better.
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