Economists From England

"I always ask, what’s the upside?"

"We’ve had the pandemic and we’ve had inflation at a level we haven’t seen since the 1970s. We’ve come through that as a partnership with all the upsides of the partnership – transparency, service, long-term focus – intact."

"Look at the high street names that aren’t here, but were here in 2019. The fact that we’ve come through it, the business has got momentum and the team is in place for a smooth transition. I’ve felt incredibly lucky."

"The partnership almost sits apart from the rest of the business world,” she adds. “We’re almost more in the mode of the BBC or NHS as a national institution, because people feel that they’ve got a stake."

"I would say it’s a watershed moment. Some of the difficult decisions we took over the last year mean that we’re now generating more cash as a business"

"The question is about how you fund your growth. The most straightforward is you generate your own cash through trading."

"I’m looking forward to what Waitrose is going to be doing over the next two to three years"

"We’ve come through once in a generation events over the last five years"

"We’re back on track and much more fit for the future. This is a launch pad for the next phase of growth for the business and to be frank we’re in as solid a position as we could be given the five years we’ve had"

"I’m a very pragmatic person,"

"The partnership model was never in question"

"From the late nineteenth century, economics gradually became a more technocratic, tool-based, science, using mathematics and statistics embedded in various kinds of analytical techniques. ... By the late twentieth century, economics had become heavily dependent on a set of reasoning tools that economists now call 's': small mathematical, statistical, graphical, diagrammatic, and even physical objects that can be manipulated in various different ways. Today, in the twenty-first century, if we go to an economics seminar, or read a learned scientific paper in that field, we find that economists write down some equations or maybe draw a diagram, and use those to develop solutions to their theoretical conundrums or to answer questions about the economic world."

"Of importance for the is that , in both his cycle books, had concentrated his energies on the statistical evidence of the economic interactions involved in the business cycle and the of these relationships rather than on the relation between the economic cycle and the exogenous causal factor. Moore's concern with evidence end statistical explanation compared to that of Jevons, and the matching change in contemporaries' responses, are both indicative of the development of the econometric approach by the early years of the twentieth century. Yet, it was some years before Moore's broad econometric approach to the explanation of economic cycles, involving a large number relationships linking different parts of the economy, was taken up by who produced the first macro econometric models in the late 1930s."

"The joint work with from that research group, ' ..., is now seen as creating a new strand. The extant philosophy of science thought about s in relation to theory: models were ways of capturing the essence of a theory. What we were doing in that little research group – and what we did in the volume Models as Mediators – was to say, if you look at the way science is practised, you see that scientists treat models as autonomous objects on which they develop arguments. They manipulate them, argue with them, extend them. Models are not in a simple relationship between theory and the world, rather they are at angles to both, so you can use them to interrogate both sides. Models as Mediators is 20 years old, and you can definitely see now that the project as a whole changed the conversation in the philosophy of science about models. I don’t mean that everybody was convinced by it, but it created a big enough presence so that, even if you didn’t agree with it, you had to take it into account. This work was part of a wider move that has been happening toward ‘the philosophy of science in practice’."

"Though there is discord between revolutionary agrarianism and collectivism, they are alike in opposition to the uniform teaching and tradition of the Catholic Church on the lawfulness of private ownership of income-yielding property, whether it be named "land" or "capital". And they are alike in opposition to the ideal of all great statesmen from Solon to Leo XIII, namely, flourishing populations of small farmers or peasants."

"Government of the busy by the bossy for the bully."

"However much on the intellectual plane Douglas was an internationalist, emotionally—and he never attempted to hide it—he was profoundly attached to England. He was not even a little Englander—really a little Southern Englander!"

"A society that acquiesces in the presence in its midst of a vast permanent army of unemployed is a society that has ceased to believe in itself."

"The only woman who appears regularly in the New Statesman in the early months is its co-founder Beatrice Webb. She is represented in her partnership with Sidney Webb and their solid 22-part series “What is Socialism?”, which dominates the first months of the magazine. Just one instalment of this series is devoted to, as they call it, "freedom for the woman". In its dogged lines, I find both what must have been most attractive and what may have been most alienating about feminism 100 years ago. What is attractive is the insistence on material emancipation. After centuries of mystification of the angel of the house, the Webbs are fiercely sure that there is, quite simply, a "loss of personal dignity and personal freedom . . . inherent in dependence on the caprice of another . . . The childbearing woman, like the wage earner, must be set free from economic subjection." Fifty years before Betty Frie­dan told American housewives the same thing, Beatrice Webb suggested to British housewives that economic dependence was not romantic. Elsewhere in her life and writing, Webb was often conflicted about feminism and the woman’s role beyond the home. Yet this is a straightforward message of material independence. Even now, we often see Daily Mail columnists bridling at the idea that being financially dependent involves any loss of personal freedom. What a call to arms this must have been 100 years ago."

"We shall never get a chance of building socialism unless we carry with us in the process the consent of the ordinary man. And he, very naturally, takes short views ... We can be at once opportunist and constructive; but we must never, in the search for constructiveness, forget the need for building on the opportunities of the moment, of offering the plain man realities and not mere promises post-dated to the Socialist future."

"I became a Socialist, as many others did in those days, on grounds of morals and decency and aesthetic sensibility. I wanted to do the decent thing by my fellow-men. I could not see why every human being should not have as good a chance in life as I, and I hated the ugliness both of poverty and of the money-grubbing way of life that I saw around me."

"Douglas is a strong Tory in everything but politics!"

"I discovered how much more he hated the liberals than the tories. This came out vividly when we were walking past the ground of the Highclere Estate. ... At this point Douglas, to my astonishment, launched into a panegyric of the English aristocracy. It might not have been wholly serious, but it did, I think, reflect a certain nostalgia for pre-industrial Britain."

"Perhaps nothing illustrates better the diabolical character of the Stalinist regime than the 140-mile Belomor Canal, built at Stalin's instigation to link the Baltic Sea and the White Sea. Between September 1931 and August 1933, somewhere between 128,000 and 180,000 prisoners - most of them from Solovetsky, with Frenkel directing their efforts - hacked out a waterway, equipped only with the most primitive pick-axes, wheelbarrows and hatchets. So harsh were the conditions and so inadequate the tools that tens of thousands of them died in the process. This was hardly unforeseeable; for six months of the year the ground was frozen solid, while in many places the prisoners had to cut through solid granite. And, as so often, the net result was next to worthless economically: far too narrow and shallow to be navigable by substantial vessels. Yet when Shaw's fellow Fabians Sidney and Beatrice Webb were given a tour of the finished canal they were oblivious to all this. As they put it in their book Soviet Communism: A New Civilization? (1935), it was 'pleasant to think that the warmest appreciation was officially expressed of the success of the OGPU, not merely in performing a great engineering feat, but in achieving a triumph in human regeneration'."

"We shall never understand the Awakening of Women until we realise that it is not mere feminism. It is one of three simultaneous world-movements towards a more equal partnership among human beings in human affairs. ... [T]he movement for woman's emancipation is paralleled, on the one hand, by the International Movement of Labour—the banding together of the manual working classes to obtain their place in the sun and, on the other, by the unrest among subject-peoples struggling for freedom to develop their own peculiar civilisations."

"The Webbs explicitly rejected the 'naive belief that. . . Soviet] penal settlements are now maintained and continuously supplied with thousands of deported manual workers and technicians, deliberately for the purpose of making, out of this forced labour, a net pecuniary profit to add to the State revenue.' Such notions were simply 'incredible' to 'anyone acquainted with the economic results of the chain-gang, or of prison labour, in any country in the world'. Slavery always has its apologists, but seldom are they so ingenuous. The thirty-six Soviet writers who, under Gorky's direction, produced the hyperbolic book The Belomor-Baltic Canal Named for Stalin at least had the excuse that the alternative to lying might be dying. The Webbs wrote their rubbish in the safety of Bloomsbury."

"His lectures taught more, much more than political science. They taught a faith that ideas mattered, that knowledge was important and its pursuit exciting.... His seminars taught tolerance, the willingness to listen although one disagreed, the values of ideas being confronted. And it was all immense fun, an exciting game that had meaning, and it was also a sieve of ideas, a gymnastics of the mind carried on with vigour and directed unobtrusively with superb craftsmanship. I think I know now why he gave himself so freely. Partly it was because he was human and warm and that he was so interested in people. But mainly it was because he loved students, and he loved students because they were young. Because he had a glowing faith that youth was generous and alive, eager and enthusiastic and fresh. That by helping young people he was helping the future and bringing nearer that brave world in which he so passionately believed."

"You have no right whatever to speak on behalf of the Government. Foreign affairs are in the capable hands of Ernest Bevin. His task is quite sufficiently difficult without the irresponsible statements of the kind you are making ... I can assure you there is widespread resentment in the Party at your activities and a period of silence on your part would be welcome."

"If Laski was not, in any ordinary sense of the word, a politician, he was also no thinker. He had an unbounded verve and versatility in the acquisition of knowledge. But, where he skimmed everything, he never plunged deep. The extent of his reading was colossal, even if one assures that he did not more than turn the pages of some of the works which he mentions."

"[S]omeone who is a Socialist by allegiance and a Liberal by temperament."

"It is a mistake to believe that the Webbs' basic idea was State Socialism. It was in fact nothing less than the application of scientific thinking to politics. About this I had many arguments with Beatrice. Like Bernard Shaw, she totally lacked the strain of dissenting morality which is so strong an element in the British character and especially in the Labour Party. ... They were interested in the economic and political structure of society; they were disinterestedly, and I would even say passionately, desirous of social improvement and greater human happiness. Their watchwords...were "measurement and publicity". That is to say, they wanted to substitute quantitative for qualitative arguments, to find a solution and to subject it to criticism instead of gassing about justice and liberty. To avoid the danger of tyranny they agreed that there must be freedom of criticism and "public accountability" for all State action. But they were never really interested in liberty – that is to say, they did not recognize the intractable complexity of individuals. People must be placed in categories for the purposes of government, and if they did not fit, so much the worse."

"I come now to the question of diplomatic personnel... It is said that I am admitting to the service Eton and Harrow. I am not one of those who decry Eton and Harrow. I was very glad of them in the Battle of Britain—by God, I was!—those fellows paid the price in the Royal Air Force on those fatal days. If the Universities are to be criticized, well, put up a vote of censure on Harold Laski, because it is the product of the Universities I have got to accept."

"When I first called on Professor Harold Laski, he expressed the opinion that I ought to take some comfort in the vindication anarchism had received by the Bolsheviki. I agreed, adding that not only their régime, but their stepbrothers as well, the Socialists in power in other countries, had demonstrated the failure of the Marxian State better than any anarchist argument. [...] In America I had never met such lack of response to any appeal. Laski thought I would find even the most radical elements reluctant to oppose the Bolsheviki. They were too enthusiastic about the Revolution to draw lines of demarcation. In time I might interest the labour ranks. He would do his best to aid me; he would invite his friends for the next Sunday afternoon to hear my story. Once more hope sprang from what seemed a hopeless and futile quest."

"He was still in his late twenties and looked like a schoolboy. His lectures on the history of political ideas were brilliant, eloquent, and delivered without a note; he often referred to current controversies, even when the subject was Hobbes's theory of sovereignty."

"Within a trade, in the absence of any Common Rule, competition between firms leads, as we have seen, to the adoption of practices by which the whole industry is deteriorated. The enforcement of a common minimum standard throughout the trade not only stops the degradation, but in every way conduces to industrial efficiency."

"Within a community, too, in the absence of regulation, the competition between trades tends to the creation and persistence in certain occupations of conditions of employment injurious to the nation as a whole. The remedy is to extend the conception of the Common Rule from the trade to the whole community, and by prescribing a National Minimum, absolutely to prevent any industry being carried on under conditions detrimental to the public welfare."

"The world, they would say, was made up of "A's" and "B's" – anarchists and bureaucrats; and they were all on the side of the "B's"."

"Their bureaucracy was never étatisme: it claimed much for the State, but much for the group also. Only the individual seemed somehow to get left out, or rather to be told to fit himself in, and not to fuss."

"[L]iberalism has been, in the last four centuries, the outstanding doctrine of Western Civilisation."

"The German-Soviet pact was...a shameless exhibition, on Stalin's part, of complete indifference to the fate of the working-class outside the Soviet Union: and the attack on Finland, like the absorption of the Baltic Republics, was an example of strategic imperialism."

"Who does not know Tocqueville cannot understand liberalism. A case of unanswerable power could, I think, be made out for the view that he and Lord Acton were the essential liberals of the nineteenth century."

"Their first book, The Permanent Official, fills three plump volumes, and took them and their two secretaries upwards of four years to write. It is an amazingly good book, an enduring achievement. In a hundred directions the history and the administrative treatment of the public service was clarified for all time."

"Economy à la Sir George May will not help much; for it means nothing positive. ... We need, if not a Five Years Plan, at any rate a centrally controlled attempt to readjust industry and agriculture to the changing needs of the British consumer and of the world market, with less exclusive concentration on the old staple industries and far more attention to the development of those which have a real capacity for expansion."

"Gradualism, in this sense, however much it appeals to the first thoughts of the electorate, fails because in the event it is unable to deliver the goods. It may put a Labour Government into office; but it will also ensure its subsequent discredit."

"In any socialised enterprise, no matter what its form, socialisation requires that proper provision be made for the democratic participation of the workers in determining the conditions and allocation of work, both at the work place level and at the higher levels of management and control."

"Professor Cole is a fluent and engaging writer with a natural sense of style, and avoids like the plague anything that smacks of obscurity or pseudo-profundity. His conversational manner, which probably owes something to the lecture-room, makes him always easy to read, though it is also responsible for a certain looseness of texture which sometimes seems more appropriate to the spoken than to the written word. Any impression, however, that Professor Cole is only skimming the surface of his subject may be corrected by consulting the very thorough and systematic bibliography at the end of the volume. This is a work of encyclopaedic learning, however lightly the learning may be worn. Few people to-day have browsed so widely and so far afield as Professor Cole among these lesser known French and British progenitors of socialist ideas."

"We afterwards went on to see G. D. H. Cole. ... He struck me as a genuine British Bolshevist, disbelieving in Parliamentary action, disbelieving in the trades union movement and the trades unionist leaders, and waiting only till the shop-stewards movement...was further developed...in order to use the weapon of the general strike, or some approach to it both for political and for industrial purposes. When I suggested that Parliamentary action was the appropriate weapon and that a general election...ought to give Labour a great accession of strength he objected that there were no leaders and no prospect of any. ... Professed himself a thorough "Pacifist"...so that it would seem he was preparing...for a stop-the-war movement by industrial pressure. At the same time he professed to be against the violence which such a movement if carried far enough would necessarily provoke. Personally I should doubt if he has the moral qualities needed for the enterprise."

"Governments have meddled incessantly with money, which in our time has been the fruitful parent of intricate discussions and painful changes."

"Slave-owners and rich men, among a crowd of slave-descended famishing labourers, lead probably a more anxious and toilsome life in protecting their property, and in enforcing obedience to their orders, than the slaves whose labour they extort."

"If the government, for example, should decree that an ox should be given for a sheep, and a sheep for a hat or a pair of stockings, its folly would be laughed at, its unjust interference would excite our indignation, and its decrees would be despised and disobeyed. The same would be the case with all other similar commodities; and what is there then in the nature of gold and silver which should release them from this general law,…"