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"The insane pursuit of the holy grail of a balanced budget in the end is going to drive the economy into a depression."
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"Patriotism is the narcissism of countries."
"Extreme positions are not succeeded by moderate ones, but by contrary extreme positions."
"Some people had attack dogs. Ghastek had attack lawyers."
"A reactionary is a somnambulist walking backwards."
"Help yourself with the state! It's on democracy!"
"Make them fear you. Machiavelli said it nearly six hundred years ago, but it's still true. Every ruler should strive for his people to love him. But if they cannot love you, then make them fear you. Love is better, but fear will do the job."
Explore more quotes by William Vickrey
"Balancing a nominal budget will solve nothing, and attempting to achieve such a spurious balance will produce much mischief."
"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."
"The great increase in longevity has produced a surge in the desire to accumulate assets for retirement. It has outpaced the ability of the private sector to produce assets, so we need a larger government debt."
"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."
"Increasingly prices are set by sellers to raise their prices without a loss of sales sufficient to wipe out the gain."
"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."
"There is no reason inherent in the real resources available to us why we cannot move rapidly within the next two or three years to a state of genuine full employment."
"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."
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