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During any period of inflation expectations, calculations, plans are bound to be based upon an extrapolation of that degree of inflation. After all, … - Enoch Powell
" "During any period of inflation expectations, calculations, plans are bound to be based upon an extrapolation of that degree of inflation. After all, we all extrapolate—we have to form notions of what is to come from what has just gone. Then, if inflation in fact tails off or is eliminated, a certain proportion of those expectations are defeated, in some cases disastrously; and until resources have rearranged themselves and expectations have re-formed themselves upon the basis either of reduced inflation or of stable money values, there will be transitional unemployment of resources, including labour. Anyone who purports to reduce or end inflation without causing transitional unemployment is either deceiving himself or deceiving others; and those who object to a method which undeniably holds the key to inflation that it would cause unemployment...are really saying, though they do not dare to do so openly, that they would rather inflation continued than that additional, transitional unemployment should be incurred; for if inflation is slowed down or eliminated by whatever means—by prayer, by magic, by prices and incomes policy, or by control of the money supply—that is the result which will follow.
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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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Alternative Names:
J. Enoch Powell
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John Enoch Powell
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Additional quotes by Enoch Powell
In conditions of free enterprise and competition, one does not have to contrive modernisation or introduce it by government decree. It happens, and keeps on happening, of its own accord. A firm or an industry or an attitude which is no longer modern simply does not survive; it goes under and is replaced by others which are modern. Our motor industry, our chemical industry, yes, our steel industry, do not have to be told to modernise themselves. They keep on doing it because they have to, in order to export and meet the challenge of a fiercely competitive and rapidly changing world. If Britain wants to be modern, there is no substitute for the system of competitive free enterprise by which the Tory Party stands.
Here is a decent, ordinary fellow Englishman, who in broad daylight in my own town says to me, his Member of Parliament, that his country will not be worth living in for his children. I simply do not have the right to shrug my shoulders and think about something else. What he is saying, thousands and hundreds of thousands are saying and thinking – not throughout Great Britain, perhaps, but in the areas that are already undergoing the total transformation to which there is no parallel in a thousand years of English history.
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