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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 … - Enoch Powell
" "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.
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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
It will be seen that all these difficulties attach to those aspects of trade unionism which involve restriction and coercion... I would hope and believe that it will not be impossible to disentangle the coercive and restrictive activities of trade unionism from all the rest of its long tradition, so closely entwined with our economic and social history. I can only say this: once the basic question is posed...as to the justification of private force in the pursuit of ends whether private or public, real or imaginary, that question has to be answered openly and fearlessly... If the conclusion is that no such justification can be shown to exist, either generally or in our own society and times, then sooner or late, however long and wearisome the process, however many inquiries and Royal Commissions we must live through, the law of this land will have to be brought into accord with what can be defended by its people as right and just.
Trevor Huddleston: [W]hat I still want to know from you, really, is why the presence of a coloured immigrant group is objectionable, when the presence of a non-coloured immigrant is not objectionable.
Enoch Powell: Oh no, oh no! On the contrary, I have often said that if we saw the prospect of five million Germans in this country at the end of the century, the risks of disruption and violence would probably be greater, and the antagonism which would be aroused would be more severe. The reason why the whole debate in this country on immigration is related to coloured immigration, is because there has been no net immigration of white Commonwealth citizens, and there could be no migration of aliens. This is merely an automatic consequence of the facts of the case; it is not because there is anything different, because there is anything necessarily more dangerous, about the alienness of a community from Asia, than about the alienness of a community from Turkey or from Germany, that we discuss this inevitably in terms of colour. It is because it is that problem.
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