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"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."
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"Since we took office, inflation, the fiscal deficit and the balance of payments current account deficit have all fallen. GDP growth, foreign exchange reserves, stock market valuations, and investor confidence have all increased. This success is the result of a series of well thought out policies."
"Economic growth cannot only be restricted to a few cities and a few citizens. Development has to be all-round and all-inclusive."
"Belonging to the working class is the economy's punishment for those who did what they were told to do in class."
"Because of the power that we have given money: The government would rather have taxpayers who do not vote, than voters who do not pay tax."
"Not every single broke and unemployed person needs a job, some need customers."
"A reputation for money is almost as negotiable as money itself."
"Capitalism is the most powerful tool for positive social change."
"Market economy favors the have against the have not."
"Major policy reform in the petroleum sector. Under the new Hydrocarbon Exploration Licensing Policy, there will be pricing and marketing freedom and a transparent revenue-sharing methodology. This will eliminate many layers of bureaucratic controls."
"In two years, we have managed to overcome the odds and register an impressive economic performance."
Explore more quotes by William Vickrey
"Nearly all educational expenditure should be considered a capital outlay, whether it provides a future return in the form of enhanced taxable income or in terms of an enhanced quality of life."
"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."
"Firms would be given initial entitlements to gross markup on the basis of past performance. These entitlements would be transferable and a market in them would be developed."
"The supply-side effect of a restrictive monetary policy is likely to be perverse, in that high interest rates enter into costs and thus exert inflationary pressure."
"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."
"The nominal budget is a poor indicator of the impact of government outlays and revenues."
"Deficits do not in themselves produce inflation, nor does a balanced budget assure a stable price level."
"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."
"There is no real justification for a requirement that a budget of any sort should be balanced, except as a rallying point for those who seek to hamstring government."
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