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"This paper was one of my digressions into abstract economics."
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"Civilization transformed man from a food gatherer to a gatherer of pieces of paper: diplomas, employment contracts, money, etc."
"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."
"Money is representative, and follows the nature and fortunes of the owner...The farmer is covetous of his dollar, and with reason. It is no waif to him. He knows how many strokes of labor it represents. His bones ache with the days' work that earned it. He knows how much land it represents - how much rain, frost and sunshine. He knows that, in the dollar, he gives you so much discretion and patience, so much hoeing and threshing. Try to lift his dollar; you must lift all that weight. In the city, where money follows the skit of a pen or a lucky rise in exchange, it comes to be looked on as light."
"It is clear that the economy has not gotten better for everyone."
"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."
"Development of states, urbanization, mechanization and industrialisation have all brought phenomenal strides to growth and prosperity of economies and their populace. They have also brought with them the insatiable need for energy resources with the related offspring of instability, conflict, war and corruption."
"Journalism students need to understand it and need a solid background in the liberal arts, in sociology, economics, literature and language, because they won't get it later on."
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."
"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."
"Larger deficits are necessary and proper means to mitigate unemployment as the far greater evil in terms of human welfare."
"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."
"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."
"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."
"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."
"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."
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