We have been building up, not dissipating, overseas assets. The question is whether, while so doing, we have been neglecting our investment at home and particularly that in the public services. There is no doubt, in my mind at any rate, about the ability of a low taxation market-oriented economy to produce consumer goods, even if an awful lot of them are imported, far better than any planned economy that ever was or probably ever can be invented. However, I am not convinced that such a society and economy, particularly if it is not infused with the civic optimism which was in many ways the true epitome of Victorian values, is equally good at protecting the environment or safeguarding health, schools, universities or Britain's scientific future. And if we are asked which is under greater threat in Britain today-the supply of consumer goods or the nexus of civilised public services-it would be difficult not to answer that it was the latter.
Roy JenkinsRelated topics
ability answer assets building consumer doubt economy environment epitome far future good goods health home investment latter low mind nexus optimism plan produce public question rate society supply taxation threat under victorian while britain services safeguarding waysRelated quotes
[Attlee] reminded the delegates that it was vital to reduce costs by greater efficiency, which meant that both employers and employed had to seek in every way to attain it. He did not believe in lowering wages as a means of reducing costs, but equally it was necessary to realize that increases of wages that were not matched by increases of production would gravely impair their chances of getting rapidly over their difficulties. Increased demands for money payments, when there was no increase of goods to meet them led straight away to inflation. There was a danger that when a justifiable advance in wages for an under-paid section of the workers had been granted it resulted in demands from those who had enjoyed higher wages to maintain the same differential. This was bad economics and bad social morality. He had been disturbed at the evidence that some people were abusing the social services in such matters as sickness benefit. They could not have them sabotaged by misuse.
Clement Attlee
In the Greek world in which Homer's songs were sung, it was taken for granted that everyone's life is ruled by fate and chance. For Homer, human life is a succession of contingencies: all good things are vulnerable to fortune. Socrates could not accept this archaic tragic vision. He believed that virtue and happiness were one and the same: nothing can harm a truly good man. So he re-envisioned the good to make it indestructible. Beyond the goods of human life - health, beauty, pleasure, friendship, life itself - there was a Good that surpassed them all. In Plato, this became the idea of the Form of the Good, the mystical fusion of all values into a harmonious spiritual whole - an idea later absorbed into the Christian conception of God. But the idea that ethics is concerned with a kind of value that is beyond contingency, that can somehow prevail over any kind of loss or misfortune, came from Socrates. It was he who invented 'morality'.
John N. Gray
Professor Ohlin also made an important contribution to what now might be called the macro-economic aspects of a country's balance of payments. In 1929 in the Economic Journal he engaged in a famous controversy with Keynes on the problem of transferring payments from one country to another across the foreign exchanges. In this he laid stress upon the income-expenditure effects of the reduced spending power in the paying country and of the increased spending power in the recipient country. In doing so he made use of the usual distinction between a country's imports and exports; but in addition he emphasised the importance of the less usual distinction between a country's domestic non-tradeable goods and services and its tradeable, exportable and importable, goods. I made some use of this latter distinction in my Balance of Payments; but looking back I regret that I did not let it play a much more central role in that book.
James Meade
... a rather different class of applications of the idea of best allocation of scarce resources... usually referred to as the theory of optimal economic growth. In most studies of this kind made in the countries with market economies there is not an identifiable client to whom the findings are submitted as policy recommendations. Nor is there an obvious choice of objective function, such as cost minimization or profit maximization in the studies addressed to individual enterprises. The field has more of a speculative character. The models studied usually contain only a few highly aggregated variables. One considers alternative objective functions that incorporate or emphasize various strands of ethical, political, or social thought. These objectives are then tried out to see what future paths of the economy they imply under equally simplified assumptions of technology or resource availability.
Tjalling Koopmans
Canada is a great country, one of the hopes of the world. We can be a better one – a country of greater equality, justice, and opportunity. We can build a prosperous economy and a society that shares its benefits more fairly. We can look after our seniors. We can offer better futures for our children. We can do our part to save the world's environment. We can restore our good name in the world. We can do all of these things because we finally have a party system at the national level where there are real choices; where your vote matters; where working for change can actually bring about change. In the months and years to come, New Democrats will put a compelling new alternative to you. My colleagues in our party are an impressive, committed team. Give them a careful hearing; consider the alternatives; and consider that we can be a better, fairer, more equal country by working together. Don't let them tell you it can't be done.
Jack Layton
