Adam Smith's 'invisible hand' is not above sudden, disturbing, movements. Since its inception, capitalism has known slumps and recessions, bubble and froth; no one has yet dis-invented the business cycle, and probably no one will; and what Schumpeter famously called the 'gales of creative destruction' still roar mightily from time to time. To lament these things is ultimately to lament the bracing blast of freedom itself.
While the Soviet Union has imposed its rule on its neighbours and drawn an iron curtain between east and west, we in Great Britain have given freedom and independence to more than forty-eight countries whose populations now number more than a thousand million - a quarter of the world's total.
We must not fall into the trap of projecting our own morality onto the Soviet leaders. They do not share our aspirations, they are not constrained by our ethics, they always consider themselves exempt from the rules that bind other states.
Our first duty to liberty is to keep our own. But it is also our duty - as Europeans - to keep alive in the Eastern as well as the Western half of our continent those ideas of human dignity which Europe gave to the world. Let us therefore resolve to keep the lamps of freedom burning bright so that all who look to the West from the shadows of the East need not doubt that we remain true to those human and spiritual values that lie at the heart of European civilization.
The people of the Falkland Islands, like the people of the United Kingdom, are an island race. They are few in number but they have the right to live in peace, to choose their own way of life and to determine their own allegiance. They way of life is British; their allegiance is to the Crown. It is the wish of the British people and the duty of Her Majesty's Government to do everything that we can to uphold that right. That will be our hope and our endeavour, and, I believe, the resolve, of every Member of this House.
If you have a sense of purpose and a sense of direction, I believe people will follow you. Democracy isn't just about deducing what the people want. Democracy is leading the people as well.
Remember the 'Parable of the Talents' in the New Testament? Christ exhorts us to be the best we can be by developing our skills and abilities, by succeeding in all our tasks and endeavors. What better description can there be of capitalism?
My belief in free competitive economic enterprise does not rest solely or even mainly on arguments of economic efficiency, though, heaven knows, these are cogent enough. It rests essentially on the view that the free market is the only safe way of ensuring that productive effort is directed towards supplying what individuals actually want, and in a way which secures the dignity and independence of the worker.
We do not believe that if you cut back what government does you diminish its authority. On the contrary, a government that did less, and therefore did better, would strengthen its authority.
It is one of the great weaknesses of reasonable men and women that they imagine that projects which fly in the face of commonsense are not serious or being seriously undertaken.
The role of Ronald Reagan had been deliberately diminished; the role of the Europeans, who, with the exception of Helmet Kohl, were often keen to undermine America when it mattered, had been sanitized; and the role of Mr. Gorbachev, who had failed spectacularly in his declared objective of saving communism and the Soviet Union, had been absurdly misunderstood.