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"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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"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."
"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."
"Deficits do not in themselves produce inflation, nor does a balanced budget assure a stable price level."
"The nominal budget is a poor indicator of the impact of government outlays and revenues."
"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."
"The insane pursuit of the holy grail of a balanced budget in the end is going to drive the economy into a depression."
"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."
"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."
"Balancing a nominal budget will solve nothing, and attempting to achieve such a spurious balance will produce much mischief."
"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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