The nominal budget is a poor indicator of the impact of government outlays and revenues.
William Vickrey
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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.
- William Vickrey -
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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.
- William Vickrey