The National Health Service is safe with us. The principle of adequate healthcare should be provided for all regardless of ability to pay must be the function of any arrangements for financing the NHS. We stand by that.
Law grows, and though the principles of law remain unchanged, yet (and it is one of the advantages of the common law) their application is to be changed with the changing circumstances of the times. Some persons may call this retrogression, I call it progression of human opinion.
A maxim is a conclusion upon observation of matters of fact, and is merely speculative; a "principle" carries knowledge within itself, and is prospective.
There are some with whom we may study in common, but we shall find them unable to go along with us to principles. Perhaps we may go on with them to principles, but we shall find them unable to get established in those along with us. Or if we may get so established along with them, we shall find them unable to weigh occurring events along with us.
But, surprise - none of these blockbuster events made the slightest dent in Ben Graham's investment principles. Nor did
they render unsound the negotiated purchases of fine businesses at sensible prices. Imagine the cost to us, then, if we had let a fear of unknowns cause us to defer or alter the deployment of capital. Indeed, we have usually made our best purchases when apprehensions about some macro event were at a peak. Fear is the foe of the faddist, but the friend of the fundamentalist.
Even matter called inorganic, believed to be dead, responds to irritants and gives unmistakable evidence of a living principle within. Everything that exists, organic or inorganic, animated or inert, is susceptible to stimulus from the outside.