Letter from London

IT Is an extraordinary and significant paradox that a Republican government in America and a Conservative government in Britain, both of which began by declaring their belief in economic freedom and by being firmly opposed to the whole idea of an “incomes policy,” and of economic intervention generally, should be responsible for unprecedentedly elaborate wage and price controls.

The turnaround has been even more dramatic and complete in Britain than in the United States, the contrast sharper between what the government pledged itself to do and what it has done, between the philosophy with which it came into office and the philosophy that it now preaches. Some Conservative members of Parliament, remembering what they said during the election campaign and not being totally devoid of political conscience, are distinctly embarrassed these days when talking to their constituents.

AL

About the Author

Anthony Lejeune

IT Is an extraordinary and significant paradox that a Republican government in America and a Conservative government in Britain, both of which began by declaring their belief in economic freedom and by being firmly opposed to the whole idea of an “incomes policy,” and of economic intervention generally, should be responsible for unprecedentedly elaborate wage and price controls.

The turnaround has been even more dramatic and complete in Britain than in the United States, the contrast sharper between what the government pledged itself to do and what it has done, between the philosophy with which it came into office and the philosophy that it now preaches. Some Conservative members of Parliament, remembering what they said during the election campaign and not being totally devoid of political conscience, are distinctly embarrassed these days when talking to their constituents.