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" "What I have learned and what I fervently believe is that neither high and stable levels of employment nor prosperity nor anything that a nation can desire is to be obtained by debauching its currency; that the mere manufacture of additional money, the mere process of inflation, though it may create temporary euphoria, is no basis upon which, for any class in the community, security or prosperity can be built. It is in that belief and in the belief that it is demonstrated by history that I speak as I do.
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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The present-day Socialist would be perfectly at home in the France of Louis XIV, where officials decided what industries should be created and located in what parts of France and her colonies, minutely regulated the imports and exports, subsidised and controlled prices, and managed the economy even down to prescribing the patterns which were to be woven in the state-owned tapestry works of Aubusson. There is the spiritual home of the Socialist planner. If Louis XIV could read Signposts for the Sixties, with its promise of the powers of government used to enforce a national plan of investment and production...it would win his full approval and support. There are no doubt some points of dissimilarity between Mr. Harold Wilson and Louis XIV; but in their economic policies they are twin souls. And the psychology and attitude of mind behind their common policy is not at all unlike. "The state?" said Louis, "Why, that is myself!" Was it not a Socialist minister who within living memory proclaimed, "We are the masters now"?
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He says to the Sovereign: "I no longer am leader of the majority party in the House of Commons; but I am carrying on as your Prime Minister." Now I don't think anyone can say that—at least without inflicting damage on the constitution... [it is] tantamount to treating the monarch herself with disrespect and denying the very principle on which our parliamentary democracy is founded.