“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.” PersonsJobsSituationCallingPercentRateSeekingGenuineOpeningEmploymentUnemployment Book:Public Economics: Selected Papers by William Vickrey Source: Public Economics: Selected Papers by William Vickrey
“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
“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."” MenSaidWould BeLostSituationWatchesEconomicsSticksSquaresPavementTimes SquarePresent Situation Author:William Vickrey
“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.” PersonsJobsHoursSituationAcceptingWillingOughtResponsibleAvailableEmploymentDesirableLiving Wage48 HoursResponsible Person Author:William Vickrey
