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"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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"An excellent job with a dubious undertaking, which is like saying it would be great if it wasn't awful."

"At last, someone came to tell me I'd been selected as commissioner, which gave rise to the line that I took the job with clean hands. I was then taken downstairs to a press conference, and the reporters were as surprised as I was."
Explore more quotes by 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."

"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 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."

"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."

"The insane pursuit of the holy grail of a balanced budget in the end is going to drive the economy into a depression."

"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."

"Balancing a nominal budget will solve nothing, and attempting to achieve such a spurious balance will produce much mischief."
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