It is here that Britain's weakness lies. The plain fact is that labour costs per unit of output in British business and industry continue to rise faster than is consistent with low unemployment and faster than our principal competitors overseas. Productivity is, certainly rising quite rapidly, but pay is rising faster still. It is this-and not our alleged dependence on oil-that constitutes the Achilles' heel of the British economy.
Nigel LawsonRelated topics
business continue industry low output pay plain principal productivity quite rising rise unit weakness Achilles labour lies costsRelated quotes
We catched fish, and talked, and we took a swim now and then to keep off sleepiness. It was kind of solemn, drifting down the big still river, laying on our backs looking up at the stars, and we didn't ever feel like talking loud, and it warn't often that we laughed, only a kind of low chuckle. We had mighty good weather, as a general thing, and nothing ever happened to us at all, that night, nor the next, nor the next.
Mark Twain
How very paltry and limited the normal human intellect is, and how little lucidity there is in the human consciousness, may be judged from the fact that, despite the ephemeral brevity of human life, the uncertainty of our existence and the countless enigmas which press upon us from all sides, everyone does not continually and ceaselessly philosophize, but that only the rarest of exceptions do.
Arthur Schopenhauer
It is not our free will but 'it is the Lord who sets the captive free' (Ps. 145:7). It is not our own virtue but 'it is the Lord who lifts up those who were laid low' (Ps. 145:8). It is not application to reading but 'it is the Lord who gives light to the blind' (Ps. 145:8). It is not our cautiousness but 'it is the Lord who protects the stranger' (Ps. 145:9). It is not our endurance but 'it is the Lord who raises or gives support to the fallen' (Ps. 144:14).
John Cassian
There is no doubt that our grievances against the British Empire had a sound basis for. As the painstaking statistical work of the Cambridge historian Angus Maddison has shown, India's share of world income collapsed from 22.6% in 1700, almost equal to Europe's share of 23.3% at that time, to as low as 3.8% in 1952. Indeed, at the beginning of the 20th Century, "the brightest jewel in the British Crown" was the poorest country in the world in terms of per capita income.
Manmohan Singh
The great majority of politicians and other interested persons tend to.... concentrate on.... measures such as education and training of labour and investment in modern efficient capital equipment.... These reforms are of extreme importance but they are concerned basically with raising the output per head of those who are in employment rather than about the number of heads that will find suitable employment.
James Meade