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.
For the Christian there can be no social or political panaceas, no easy escapes from personal responsibility achieved by collectivising guilt or virtue. The true ends of temporal life lie beyond it, and, though the tyrannical State may diminish virtue, the benevolent State cannot procure it.
When all the objectives of government include the achievement of equality - other than equality before the law - that government poses a threat to liberty.
I pay tribute to John Major's achievement in persuading the other 11 Community Heads of Government that they could move ahead to a Social Chapter but not within the treaty and without Britain's participation. It sets a vital precedent. For an enlarged Community can only function if we build in flexibility of that kind... John Major deserves high praise for ensuring at Maastricht that we would not have either a Single Currency or the absurd provisions of the Social Chapter forced upon us: our industry, workforce, and national prosperity will benefit as a result.
There is no such thing as society, there is a living tapestry of men and women and the beauty of that tapestry, and the quality of our lives, will depend upon how much each of us is prepared to take responsibility for ourselves and to turn round and help, by our own efforts, those who are unfortunate. There's no such thing as entitlement unless someone has first met an obligation
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 remain totally convinced that when children are young, however busy we may be with the practical duties inside the home, themost important thing of all is to devbote enoughh time and care to their needs and problems.
We must not fall into the mistake of thinking that it is America that trades with Taiwan or Europe that trades with Asia. The truth is that it is American companies that trade with Taiwanese companies.