“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.” SeemsLevelsSituationPermanentUnemploymentInflation Author:William Vickrey
“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
“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.” IfsYearsWould BeCostPercentRateSteadyUnemploymentAssuredInflationBargains 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
