William Vickrey

Currently a level of unemployment of 7 percent or more seems to be required to keep inflation from accelerating, a level quite unacceptable as a permanent situation.

– 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.

– William Vickrey

Larger deficits are necessary and proper means to mitigate unemployment as the far greater evil in terms of human welfare.

– William Vickrey