Increasingly prices are set by sellers to raise their prices without a loss of sales sufficient to wipe out the gain. William Vickrey Read Quote
Deficits do not in themselves produce inflation, nor does a balanced budget assure a stable price level. William Vickrey Read Quote
Balancing a nominal budget will solve nothing, and attempting to achieve such a spurious balance will produce much mischief. William Vickrey Read 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. William Vickrey Read 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. William Vickrey Read Quote
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 Read 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. William Vickrey Read 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. William Vickrey Read Quote
