At an educational conference not long ago, one head teacher spoke about "the seemingly planned intention of eroding all forces of authority", while a… - Enoch Powell

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"?

Wages, profits, prices are determined, always have been determined, and always will be determined until we go Communist, by the market—by supply and demand working through the market. While we tie ourselves into knots trying to invent non-market criteria for our commissions to use, the market is there, noiselessly, efficiently, irresistibly doing the job for us all the time. Irresistibly—yes, and there's the rub. For there is one thing outside the market in a modern economy, and that is money itself. Governments can and do satisfy the demand for money, raise and lower the supply of money. In short, governments have the power to control money, which is so largely their own creation. If governments allow monetary demand to increase faster than productivity, the market will not stop the process, because it cannot stop it. The market will simply go on determining wages, profits and prices in ever higher monetary terms—until something busts.

We exist to say to the nation that its future, economically and socially, will best be what the people themselves make it; that the possibilities which lie open to their ingenuity, effort and initiative are wider far than any government could conceive, still less bring to pass; and that the duty of government is to help, but never constrain, the free development of the nation's resources and talents. We offer neither servitude, nor the safety, ease and irresponsibility of servitude. We offer freedom, and the risks, the dangers, the uncertainties, the untidinesses, but also the responsibilities and the opportunities which are inseparable from it.