“Deficits do not in themselves produce inflation, nor does a balanced budget assure a stable price level.” DoeLevelsProduceBudgetsStableBalancedInflationDeficitBalanced Budget Book:Full Employment and Price Stability: The Macroeconomic Vision of William S. Vickrey Source: Full Employment and Price Stability: The Macroeconomic Vision of William S. Vickrey
“Larger deficits are necessary and proper means to mitigate unemployment as the far greater evil in terms of human welfare.” HumansMeanEvilTermGreaterWelfareUnemploymentDeficit Book:Full Employment and Price Stability: The Macroeconomic Vision of William S. Vickrey Source: Full Employment and Price Stability: The Macroeconomic Vision of William S. Vickrey
