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Margaret Thatcher on raising living standards - for everyone


Countries are not rich in proportion to their natural resources; if that were so Russia would be the richest country in the world; she has everything, oil, gas, diamonds, platinum, gold, silver, the industrial metals, timber, and a rich soil.

Countries are rich whose governments have policies which encourage the essential creativity of man who in order to succeed must work with others to produce goods and services which people choose to buy.

So Japan, Switzerland, Hong Kong, Taiwan, Singapore and so on have no natural resources but are now among the most prosperous countries in the world.

The market is not a new-fangled invention of some academic economists, it is the oldest trading organisation known to man.

Only a flourishing free enterprise economy can generate the higher living standards at every level and the jobs which people need if we can honestly say that they are enjoying the benefits of freedom.