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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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    William Spencer Vickrey (2004). “Full Employment and Price Stability: The Macroeconomic Vision of William S. Vickrey”, Edward Elgar Pub
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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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