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"Larger deficits are necessary and proper means to mitigate unemployment as the far greater evil in terms of human welfare."
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Exlpore more Evil quotes
"We are confident that evil can never happen to us until it does."
"All evil is good become cancerous."
"The humblest individual exerts some influence, either for good or evil, upon others."
"The resolution to avoid an evil is seldom framed till the evil is so far advanced as to make avoidance impossible."
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."
"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."
"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."
"Deficits do not in themselves produce inflation, nor does a balanced budget assure a stable price level."
"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."
"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."
"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 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."
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