Why do you climb philosophical hills? Because they are worth climbing . . . There are no hills to go down unless you start from the top.

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.

Look at a day when you are supremely satisfied at the end. It's not a day when you lounge around doing nothing; it's a day you've had everything to do and you've done it.

Whether it is in the United States or in mainland Europe, written constitutions have one great weakness. That is that they contain the potential to have judges take decisions which should properly be made by democratically elected politicians.

A world without nuclear weapons may be a dream but you cannot base a sure defence on dreams. Without far greater trust and confidence between East and West than exists at present, a world without nuclear weapons would be less stable and more dangerous for all of us.

I must be absolutely clear about this. Britain cannot accept the present situation on the Budget. It is demonstrably unjust. It is politically indefensible: I cannot play Sister Bountiful to the Community while my own electorate are being asked to forego improvements in the fields of health, education, welfare and the rest.

I would not wish to be Prime Minister, dear.