If identical goods were being produced at widely differing efficiency in different parts of the United Kingdom or if the United Kingdom and Germany, or Japan, or the United States, were part of a single unit with a single currency, then of course the less efficient producers would be knocked out. That is why Germany is so keen for Britain to go into the European Monetary System, so that it can wipe out the British industries which it is in competition.
Enoch PowellRelated topics
course currency different goods japan kingdom less single unit wipe Britain parts StatesRelated quotes
Talked at lunch with a gentleman just returned from Japan, who told me some disturbing things about the influences behind our policies of extreme democratization and de-concentration of economic life in Japan.
Of all the failures of United States policy in the wake of World War II, history will rate as the most grievous our failure to approach realistically the responsibilities of power over the defeated nations which we ourselves courted by the policy of unconditional surrender.
George F. Kennan
We shall divert through our own Country a branch of commerce which the European States have thought worthy of the most important struggles and sacrifices, and in the event of peace... we shall form to the American union a barrier against the dangerous extension of the British Province of Canada and add to the Empire of liberty an extensive and fertile Country thereby converting dangerous Enemies into valuable friends.
Thomas Jefferson
When profits are pursued by geographic interchange of goods, so that commerce for profit becomes the central mechanism of the system, we usually call it "commercial capitalism." In such a system goods are conveyed from ares where they are more common (and therefore cheaper) to areas where they are less common (and therefore less cheap). This process leads to regional specialization and to division of labor, both in agricultural production and in handicrafts.
Carroll Quigley
This is the highest honour of the Church, that, until He is united to us, the Son of God reckons himself in some measure imperfect. What consolation is it for us to learn, that, not until we are along with him, does he possess all his parts, or wish to be regarded as complete! Hence, in the First Epistle to the Corinthians, when the apostle discusses largely the metaphor of a human body, he includes under the single name of Christ the whole Church.
John Calvin
If one takes pleasure in calling the gold standard a "barbarous relic," one cannot object to the application of the same term to every historically determined institution. Then the fact that the British speak English - and not Danish, German, or French - is a barbarous relic too, and every Briton who opposes the substitution of Esperanto for English is no less dogmatic and orthodox than those who do not wax rapturous about the plans for a managed currency.
Ludwig von Mises