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The economic losses are those which are common to all monopolistic and restrictive practices. Whenever relatively more is paid for one set of service… - Enoch Powell
" "The economic losses are those which are common to all monopolistic and restrictive practices. Whenever relatively more is paid for one set of services, and therefore less for all the rest, than would be paid in the absence of restrictive practices, the result is that the pattern of production is not as nearly as "right" as it would otherwise be: we waste part of our resources—human as well as material—by not putting them to the uses which yield the best return. In the modern state this is corrected not, as in the past, by unemployment and the forcing down of money wages, but by inflation and the devaluation of money: if one group succeeds in raising the price of its services by restrictive methods, then everyone else will also get around to being paid more for theirs, until a pattern which corresponds with the balance of supply and demand is again restored. The resultant inflation not only has the familiar inconvenient consequences for a country with a fixed parity of exchange. It also creates injustice for those persons and classes whose expectations are defined in fixed money terms.
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About Enoch Powell
John Enoch Powell (16 June 1912 – 8 February 1998) was a British politician, classical scholar, author, linguist, soldier, philologist, and poet. He served as a Conservative Member of Parliament (1950–1974), then Ulster Unionist Party (UUP) MP (1974–1987), and was Minister of Health (1960–1963).
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J. Enoch Powell
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John Enoch Powell
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Additional quotes by Enoch Powell
In old age it is no longer possible to credit the sheer, almost physical agony which is caused in youth by the passage of time, when the turning of spring into summer arouses pain as lively as the pain of toothache. The succession of the seasons is like a recurrent inescapable catastrophe, which sweeps away what is young and beautiful, and what is beautiful because it is young.
I find in my constituency in the last few weeks an ominous deterioration, which is taking the form not of discrimination by white against coloured but of insolence of coloured towards white and corresponding fearfulness on the part of white. It is this which will be exacerbated by the projected legislation on discrimination and which we shall have to take into account in making up our minds on our attitude.
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Contrary to popular belief there is no reason whatever to suppose that the remuneration of labour in general has been raised by the combination of labour through the trade unions to a higher level than it would have stood at otherwise. The rising standard of living of the employed population is due to many causes; but restrictive practices are not among them. No doubt in individual occupations combination has from time to time succeeded in raising real wages above what they would have been in its absence; but any such gain, which is invariably at the expense of workers in other employments and of the general public, is always temporary and usually brief. After more or less inconvenience and, in recent times, by dint of more or less inflation, the pattern of real wages reverts to one which corresponds with the balance of supply and demand for labour in the various employments in different parts of the country.
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