Top 15 William Vickrey Quotes (2024 Update)

William Vickrey Quote: “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.”

1. “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

William Vickrey Quote: “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.””

2. “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.””

— William Vickrey

William Vickrey Quote: “Increasingly prices are set by sellers to raise their prices without a loss of sales sufficient to wipe out the gain.”

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

— William Vickrey

William Vickrey Quote: “Larger deficits are necessary and proper means to mitigate unemployment as the far greater evil in terms of human welfare.”

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

— William Vickrey

William Vickrey Quote: “The nominal budget is a poor indicator of the impact of government outlays and revenues.”

5. “The nominal budget is a poor indicator of the impact of government outlays and revenues.”

— William Vickrey

William Vickrey Quote: “Nearly 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.”

6. “Nearly 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.”

— William Vickrey

William Vickrey Quote: “Balancing a nominal budget will solve nothing, and attempting to achieve such a spurious balance will produce much mischief.”

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

— William Vickrey

William Vickrey Quote: “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.”

8. “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

William Vickrey Quote: “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.”

9. “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

William Vickrey Quote: “Deficits do not in themselves produce inflation, nor does a balanced budget assure a stable price level.”

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

— William Vickrey

William Vickrey Quote: “The 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.”

11. “The 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.”

— William Vickrey

William Vickrey Quote: “The insane pursuit of the holy grail of a balanced budget in the end is going to drive the economy into a depression.”

12. “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

William Vickrey Quote: “I 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.”

13. “I 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.”

— William Vickrey

William Vickrey Quote: “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.”

14. “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.”

— William Vickrey

William Vickrey Quote: “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.”

15. “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

William Vickrey Quote: “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.”

16. “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

William Vickrey Quote: “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.”

17. “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.”

— William Vickrey

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