"[A]lmost without a struggle, we have just witnessed a major lurch to the left in policy-making. The supreme authority of the Labour Party committed itself nine days ago to...a near neutralist and unilateralist position, which would make meaningless our continued membership of NATO...a commitment to practical non-cooperation with the European Community, leading in all likelihood to a firm proposal for complete withdrawal...a massive further extension of the public sector, despite the manifold unsolved problems which beset our nationalised industries, and mounting evidence from all over the world that full-scale state ownership is more successful in producing tyranny than in producing goods. Capitalism has its crisis today, but so too does estate socialism. There is now no economic philosopher's stone. But more successful nations are those which embrace a mixed economy and follow it with some consistency of purpose, not forever changing the frontiers. What remains of the private sector is to have enterprise squeezed out of it by being subjected to a straightjacket far tighter than in any other democratic country in the world. This is not by any stretch of the imagination a social democratic programme. Nor do I believe that it is the way to protect Britain's security, help the peace of the world, revitalise our economy, or represent the views of the great majority of moderate left voters."