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"This paper was one of my digressions into abstract economics."
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"Since we took office, inflation, the fiscal deficit and the balance of payments current account deficit have all fallen. GDP growth, foreign exchange reserves, stock market valuations, and investor confidence have all increased. This success is the result of a series of well thought out policies."
"Another point of economy is to look for seed of the same kind as you sow, and not to hope to buy one kind with an other kind. Friendship buys friendship; justice, justice; military merit, military success...Yet there is commonly a confusion of expectations on these points. Hotspur lives for the moment, praises himself for it, and despises Furlong, that he does not. Hotspur of course is poor, and Furlong is a good provider. The odd circumstance is that Hotspur thinks it a superiority in himself, this improvidence, which ought to be rewarded with Furlong's lands."
"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."
"In capitalist nation, all is decided by money."
"Economic growth cannot only be restricted to a few cities and a few citizens. Development has to be all-round and all-inclusive."
"Belonging to the working class is the economy's punishment for those who did what they were told to do in class."
"Employment is the biggest form of slavery."
"Because of the power that we have given money: The government would rather have taxpayers who do not vote, than voters who do not pay tax."
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."
"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."
"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."
"Increasingly prices are set by sellers to raise their prices without a loss of sales sufficient to wipe out the gain."
"The nominal budget is a poor indicator of the impact of government outlays and revenues."
"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."
"Larger deficits are necessary and proper means to mitigate unemployment as the far greater evil in terms of human welfare."
"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."
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