William Vickrey's Legacy: Innovative Policies for Social Concerns

Richard Holt, David Colander, David Kennett and J. Barkley Rosser
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Richard Holt: Southern Oregon University
David Kennett: Vassar College

Eastern Economic Journal, 1998, vol. 24, issue 1, 1-6

Abstract: William Vickrey, who won the Nobel Prize in Economics in 1996, was a moral and brilliant man. His major contributions to economics came from his desire to advance ways to decrease waste through creative pricing. The economic areas where he had the most impact are congestion pricing, tax reform and auctions. At the end of his life the unemployment issue dominated his research. Vickrey saw macroeconomics turning increasingly from full employment to stable prices as the dominant policy goal. Vickrey was deeply concerned that economists and politicians believed that price stability was a more laudable goal than full employment.

Keywords: Economics; Morals (search for similar items in EconPapers)
JEL-codes: A13 B31 (search for similar items in EconPapers)
Date: 1998
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