It is recorded how towards the end of the eighteenth century a Muslim visitor to England was taken to see the House of Commons at work. He later wrote of his astonishment at finding the that the British Parliament actually made laws and fixed punishments for their infraction - because unlike Muslims the English had not accepted a divine law revealed from heaven and therefore had to resort to such unsatisfactory expedients. Muslims still understand the expression 'the rule of law' very differently than do most Westerners.
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.
People constantly requesting government intervention are casting their problems at society. And, you know, there's no such thing as society. There are individual men and women and there are families. And no government can do anything except through people, and people must look after themselves first. It is our duty to look after ourselves and then, also, to look after our neighbours.
The virtues prized in free countries are honesty, self-discipline, a sense of responsibility to one's family, a sense of loyalty to one's employer and staff, and a pride in the quality of one's work. And these virtues only flourish in a climate of freedom.
Today I have lost one of my dearest friends, England one of her greatest men. Keith Joseph understood that it was necessary to win again the intellectual argument for freedom, and that to do this we must start from first principles. He was in many ways an unlikely revolutionary. For all his towering intellect, he was deeply humble. He spoke out boldly, however hostile the audience. Yet he hated to give offence. Above all, his integrity shone out in everything he said and did. His best memorial lies in the younger generations of politicians whom he inspired. But for me he is irreplaceable.
We must remember our duty to Nature before it is too late. That duty is constant. It is never completed. It lives on as we breathe. It endures as we eat and sleep, work and rest, as we are born and as we pass away. The duty to Nature will remain long after our own endeavors have brought peace to the Middle East. It will weigh on our shoulders for as long as we wish to dwell on a living and thriving planet, and hand it on to our children and theirs.
Successful entrepreneurship is ultimately a matter of flair. But there is also a fund of practical knowledge to be acquired and, of course, the right legal and financial framework has to be provided for productive enterprise to develop.
It is in a country's interests to keep faith with its allies. States in this sense are like people. If you have a reputation for exacting favors and not returning them, the favours dry up.
If you lead a country like Britain, a strong country, a country which has taken a lead in world affairs in good times and in bad, a country that is always reliable, then you have to have a touch of iron about you.
I am an ally of the United States. We believe the same things, we believe passionately in the same battle of ideas, we will defend them to the hilt. Never try to separate me from them.