“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
“Firms would be given initial entitlements to gross markup on the basis of past performance, adjusted by changes in labor and capital inputs. This is somewhat similar to the definition of normal profits under some versions of the wartime excess -profits tax. Entitlements would be transferable and a competitive market established.” Would BePastGivenPerformancesBasesFirmGrossInitialsEntitlement 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.” 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
