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.

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.

William Vickrey

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Don't you think you're just rearranging deck chairs on the Titanic?

William Vickrey

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Deficits do not in themselves produce inflation, nor does a balanced budget assure a stable price level.

William Vickrey

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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.

William Vickrey

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Balancing a nominal budget will solve nothing, and attempting to achieve such a spurious balance will produce much mischief.

William Vickrey

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