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"This paper was one of my digressions into abstract economics."
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"And so our goal on health care is, if we can get, instead of health care costs going up 6 percent a year, it's going up at the level of inflation, maybe just slightly above inflation, we've made huge progress. And by the way, that is the single most important thing we could do in terms of reducing our deficit. That's why we did it."
"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."
"Belonging to the working class is the economy's punishment for those who did what they were told to do in class."
"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."
"Economic growth cannot only be restricted to a few cities and a few citizens. Development has to be all-round and all-inclusive."
"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."
"You know if the U.S. Government wanted to boost the economy there's a simple solution make Black Friday the refund date for your state and federal taxes."
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."
"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."
"The nominal budget is a poor indicator of the impact of government outlays and revenues."
"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."
"Deficits do not in themselves produce inflation, nor does a balanced budget assure a stable price level."
"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."
"The insane pursuit of the holy grail of a balanced budget in the end is going to drive the economy into a depression."
"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."
"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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