William Vickrey

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

— William Vickrey

#balanced budget #budget #depression #drive #economy

Balancing a nominal budget will solve nothing, and attempting to achieve such a spurious balance will produce much mischief. ↗

— William Vickrey

#attempting #balance #balancing #budget #mischief

Currently 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. ↗

— William Vickrey

#inflation #keep #level #more #percent

Deficits do not in themselves produce inflation, nor does a balanced budget assure a stable price level. ↗

— William Vickrey

#balanced #balanced budget #budget #deficits #does

Don't you think you're just rearranging deck chairs on the Titanic? ↗

— William Vickrey

#deck #just #rearranging #think #titanic

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

#developed #entitlements #firms #given #gross

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. ↗

— William Vickrey

#bargain #brought #cost #could #down

Increasingly prices are set by sellers to raise their prices without a loss of sales sufficient to wipe out the gain. ↗

— William Vickrey

#increasingly #loss #out #prices #raise

It's insane to try to balance the budget. ↗

— William Vickrey

#budget #insane #try

Larger deficits are necessary and proper means to mitigate unemployment as the far greater evil in terms of human welfare. ↗

— William Vickrey

#evil #far #greater #greater evil #human