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Conditions have greatly changed in Great Britain since the end of the war owing to the existence of full employment. Negotiations about wages between… - Hugh Gaitskell
" "Conditions have greatly changed in Great Britain since the end of the war owing to the existence of full employment. Negotiations about wages between the two sides of industry now take place in entirely different circumstances. There is no reserve of labour to compete for jobs. ... If wages rise faster than productivity the increases in cost can usually be passed on in increased selling prices. There is thus in the economic system very much less check on the upward movement of money wages. ... [I]f wages at home rise unchecked, it is more likely in general that exports will gradually cease to be competitive and there will be balance of payments difficulties. These can be met, in the end, by devaluation. A succession of devaluations completely undermines confidence in any currency. ... It is clear that a very difficult problem faces a country such as ours, which wishes to maintain full employment and yet to avoid the undoubted evils of rising prices and balance of payments difficulties abroad.
English
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About Hugh Gaitskell
Hugh Todd Naylor Gaitskell (9 April 1906 – 18 January 1963) was a British politician and leader of the Labour Party from 1955 until his death.
Also Known As
Native Name:
Hugh Todd Naylor Gaitskell
Alternative Names:
Rt. Hon. Hugh Todd Naylor Gaitskell
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Additional quotes by Hugh Gaitskell
[T]he fundamental objective and criterion by which policy must be judged [is] the achievement of Economic Equality... [W]ithout it Labour policy becomes merely opportunist, distinguishable only from the policies of other parties by the suggestion of attractive means to 'Prosperity', a greater humanitarianism, and, as some would have it, far less favourable circumstances in which to take action... A failure to advance in the direction of that ideal [of social justice] is bound to appear little short of betrayal.
I have no doubt myself that the reason why Colonel Nasser acted in the way that he did, aggressively, brusquely, suddenly, was precisely because he wanted to raise his prestige in the rest of the Middle East. ... He wanted to challenge the West and to win. He wanted to assert his strength. He wanted to make a big impression. Quiet negotiation, discussion around a table about nationalising the Company would not produce this effect. It is all very familiar. It is exactly the same that we encountered from Mussolini and Hitler in those years before the war.
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