The time has come for a wholly new approach to economic policy in Britain. The overriding need is for a long-term stabilisation programme to defeat inflation, recreate business confidence and provide a favourable climate for economic growth. At the head of such a programme must lie a firm commitment to a steady and gradual reduction in the rate of growth of the money supply, until it is consistent with our best guess at a potentially sustainable rate of economic growth. Only in this way can inflation be wrung out of the system. But this alone is not enough...An equally important part of a long term stabilisation plan has to be a reduction in the present Budget deficit...Indeed, something akin...to the old balanced Budget discipline needs to be restored: the secret of practical economic success, as overseas experience confirms, is the acceptance of known rules. Rules rule: OK?
Nigel LawsonRelated topics
acceptance approach best budget business climate commitment confidence consistent defeat deficit discipline enough experience firm gradual growth guess head inflation known lie money need needs overriding plan policy practical present programme rate reduction rule secret something steady success supply sustainable system term time way wring favourable britain stabilisation rulesRelated quotes
They were now as a party engaged in carrying laboriously uphill the last few columns out of the Gladstonian quarry. ... Foremost among the tasks of Liberalism in the near future was the regeneration of rural life and the emancipation of the land of this country from the paralysing grip of an effete and unprofitable system. ... [The reports into rural life] were startling. When they were published they would prove conclusively that there were hundreds of thousands, if not millions, of men, women, and children dependent upon the land in this country and engaged in cultivating it, hardworking men and women, who were living under conditions with regard to wages, to housing, as well as hours of labour-conditions which ought to make this great Empire hang its head in shame that such things could be permitted to happen in any corner of its vast dominions, let alone in this country, the centre and source of all its glory.
David Lloyd George
[On the attendees at the launch of Apollo 11] Those people were not a stampeding herd, nor a manipulated mob; they did not wreck the Florida communities, they did not devastate the countryside, they did not throw themselves, like whining thugs, at the mercy of their victims - they did not create any victims. They came as responsible individuals able to project the reality of two or three days ahead, and to provide for their own needs. There were people of every age, creed, color, educational level and economic status. They lived and slept in tents, or in their cars, some for several days, in great discomfort and unbearable heat; they did it gamely, cheerfully, gaily; they projected a general feeling of confident goodwill, the bond of a common enthusiasm; they created a public spectacle of responsible privacy - and they departed as they had come, without benefit of press agents.
Ayn Rand
Rate of change is this mathematics known as Calculus. ... Now I hope you understand this, because I've never been able to make head nor tail of it. It must be some sort of a Black Magic operation, started out by the Luce cult - some immoral people who are operating up in New York City, Rockefeller Plaza - been thoroughly condemned by the whole society. Anyway, their rate-of-change theory - I've never seen any use for that mathematics, by the way - I love that mathematics, because it - I asked an engineer, one time, who was in his 6th year of engineering, if he'd ever used Calculus, and he told me yeah, once, once I did, he said. When did you use it? And he said I used it once. Let me see, what did you use it on? Oh yeah. Something on the rate-of-change of steam particles in boilers. And then we went out and tested it and found the answer was wrong.
L. Ron Hubbard
The growth in money and credit has outpaced both savings and economic growth. These inflationary pressures have been concentrated in asset prices, not consumer price inflation--keeping monetary policy too easy. This increase in asset prices has fueled domestic borrowing and spending. Government policy and the increase in securitization are largely responsible for this bubble. In addition to loose monetary policies by the Federal Reserve, government-sponsored enterprises Fannie Mae and Freddie Mac have contributed to the problem. The fourfold increases in their balance sheets from 1997 to 1998 boosted new home borrowings to more than $1.5 trillion in 1998, two-thirds of which were refinances which put an extra $15,000 in the pockets of consumers on average--and reduce risk for individual institutions while increasing risk for the system as a whole.
Ron Paul
When Taylor began his efforts at the Midvale Steel Company in the 1880s, several members of the American Society of Mechanical Engineers were likewise interested in labor management. Industrial capitalism was running up against renewed resistance from the growing ranks of labor, still committed to a sense of work integrity and craftsmanship. Task management, or scientific management as it came to be called, began to take shape in the eighties as the way to break the worker's threatening resistance. The heart of this approach is the systematic reduction of work into discrete, routinized tasks, totally separated from any policy decisions about the job. ... For capitalism to be firmly in control, it must monopolize information and techniques as surely as it controls the rest of the means of production. The worker must be permitted only to perform certain specific narrow tasks as planned by management.
John Zerzan
