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William Vickrey Quotes

Nobel prize winner

William Vickrey was a Nobel Prize-winning economist renowned for his contributions to auction theory. His research in economics had a profound impact on modern auction practices.

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All Budgets Government Situation Unemployment Balanced Employment Inflation Produce Rate Would Be Available Balanced Budget Cost Deficit Effects Genuine Increase Jobs Land Levels

Famous William Vickrey Quotes

“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.”

Persons Jobs Situation Calling Percent Rate Seeking Genuine Opening Employment Unemployment

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.”

Seems Levels Situation Permanent Unemployment Inflation

Author:William 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.”

Ifs Years Would Be Cost Percent Rate Steady Unemployment Assured Inflation Bargains

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.”

Humans Mean Evil Term Greater Welfare Unemployment Deficit

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

About the Author

Born: June 21, 1914
Died: October 11, 1996
Known for: Nobel prize winner
Quotes: 20

Books & Sources

Full Employment and Price Stability: The Macroeconomic Vision of William S. VickreyRelated source material

Public Economics: Selected Papers by William VickreyRelated source material

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