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"Deficits do not in themselves produce inflation, nor does a balanced budget assure a stable price level."
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"A nation with a strong defence industry will not only be more secure. It will also reap rich economic benefits - it can boost investment, expand manufacturing, support enterprise, raise the technology level and increase economic growth in the country."
"Civilization transformed man from a food gatherer to a gatherer of pieces of paper: diplomas, employment contracts, money, etc."
"Employment is the biggest form of slavery."
"Our "Make in India" initiative is not intended for only manufacturing for the domestic market or import substitution. It is as much about making world-class products and services for the whole globe."
"India's economic success is the hard-won result of prudence, sound policy and effective management."
"As the U.S. businesses search for new areas of economic growth, markets for their goods, a pool of skilled resources, and global locations to produce and manufacture, India could be their ideal partner. India's strong economy, and growth rate of 7.6% per annum, is creating new opportunities for our mutual prosperity."
"CAPITALISM: If everything worked without need of repair, upgrade or replacement, then peaceful minds and prosperity would prevail among the masses rather than just the few who control markets."
"Capitalism without Bankruptcy is like Catholicism without Hell."
"My claim is that we do not have a market economy, but a capitalist economy."
Explore more quotes by William Vickrey
"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."
"The insane pursuit of the holy grail of a balanced budget in the end is going to drive the economy into a depression."
"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 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."
"Increasingly prices are set by sellers to raise their prices without a loss of sales sufficient to wipe out the gain."
"Larger deficits are necessary and proper means to mitigate unemployment as the far greater evil in terms of human welfare."
"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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