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" "The collective wisdom and the collective will of the nation resides not in any little Whitehall clique but in the whole mass of the people—in the producers, listening to the voice of the customer at home and abroad; in the savers and investors, using their eyes and their brains to lay out their resources to best advantage; in the consumers themselves, expressing through all the complex nervous system of the market their wishes, their needs, their expectations. In short, the true national economic plan is being made all the time by the very people and institutions which the intellectual arrogance of the Socialist affects to despise. "Under Tory free enterprise" says Labour's policy, "no limit is set to the amount of our national resources and intellectual talent consumed by the popular newspaper, the glossy magazine, the cinema, commercial television and the advertising industry." What a world of contempt for the ordinary man and woman breathes in that haughty sentence!
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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I am not mistaken in knowing that in 1935 I was convinced there would be another German War and I must expect to be killed in it. I am not mistaken in remembering that in 1937 at a Trinity College feast, when the guest of honour said 'Our Government is doing its best to prevent war', I shouted out from the fellows' table 'But we want war'. I am not mistaken in remembering that in 1937, driving to Boar's Hill with Gilbert Murray, I said to him "There's no hope for us unless we go to war with Germany" and he looked me straight in the eyes and replied "I think so too". Nor have I imagined the immensity of the relief when on 3 September 1939 I learnt that appeasement and betrayal were over and that England, if it went down, would go down fighting.
In order for all prices to rise—in other words, in order for the value of money to fall—it is necessary, it is elementary, that the supply of money, whatever precisely is meant by that, or whatever precise measurement is applied to it, should be increasing relative to the supply of goods and services; and since the supply of goods and services, however unsatisfactory we might find its growth, is certainly not diminishing, we are clearly confronted with the effective consequences of a growth in the money supply. Indeed, in a modern economy, long-term inflation—that which we have experienced in the past and of which we are experiencing an acute phase at the moment—can be explained or accounted for only in terms of the rate of increase of the money supply.