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" "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.
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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We describe a Monarch by designating the territory of which he is Monarch. To say that he is Monarch of a certain territory and his other realms and territories is as good as to say that he is king of his kingdom. We have perpetrated a solecism in the title we are proposing to attach to our Sovereign and we have done so out of what might almost be called an abject desire to eliminate the expression "British." The same desire has been felt—though not by any means throughout the British Commonwealth—to eliminate this word before the term "Commonwealth." ... Why is it, then, that we are so anxious, in the description of our own Monarch, in a title for use in this country, to eliminate any reference to the seat, the focus and the origin of this vast aggregation of territories? Why is it that this "teeming womb of royal Kings," as Shakespeare called it, wishes now to be anonymous?
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What happens then when majorities in the directly elected European Assembly take decisions, or approve policies, or vote budgets which are regarded by the British electorate or by the electorate of some of the mammoth constituencies as highly offensive and prejudicial to their interests? What do the European MPs say to their constituents? They say: “Don't blame me; I had no say, nor did I and my Labour (or Conservative) colleagues, have any say in the framing of these policies”. He will then either add: “Anyhow, I voted against”; or alternatively he will add: “And don't misunderstand if I voted for this along with my German, French, and Italian pals, because if I don't help roll their logs, I shall never get them to roll any of mine”. What these pseudo-MPs will not be able to say is what any MP in a democracy must be able to say, namely, either “I voted against this, and if the majority of my party are elected next time, we will put it right”, or alternatively, “I supported this because it is part of the policy and programme for which a majority in this constituency and in the country voted at the last election and which we shall be proud to defend at the next election”. Direct elections to the European Assembly, so far from introducing democracy and democratic control, will strengthen the arbitrary and bureaucratic nature of the Community by giving a fallacious garb of elective authority to the exercise of supranational powers by institutions and persons who are – in the literal, not the abusive, sense of the word – irresponsible.