William Vickrey Quotes
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.
Topics
Government, Governments
Government Spending
Economic Policy
Fiscal Policy
Fiscal Responsibility
Balanced Budget
Economic Justification
Fiscal Accountability
Fiscal Austerity
Fiscal Conservatism
Fiscal Discipline
Fiscal Prudence
Fiscal Responsibility Act
Fiscal Restraint
Fiscal Sustainability
Fiscal Transparency
Public Finance
government limitation
Fiscal Constraint
Citations
Vickrey, William. "Fifteen Fatal Fallacies of Financial Fundamentalism: A Disquisition on Demand Side Economics." Columbia University Working Paper, 5 Oct. 1996.
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In 1964 the treasury secretary asked the president how to sell the proposed budget to Congress:
William Spencer Vickrey was a Canadian-American professor of economics and Nobel Laureate. Vickrey was awarded the 1996 Nobel Memorial Prize in Economic Sciences with James Mirrlees for their research into the economic theory of incentives under asymmetric information, becoming the only Nobel laureate born in British Columbia.