"When losses are made, under the present system those losses are borne by the individuals who sustained them and took the risk and judged things wrongly, whereas under State management all losses are quartered upon the taxpayers and the community as a whole. The elimination of the profit motive and of self-interest as a practical guide in the myriad transactions of daily life will restrict, paralyse and destroy British ingenuity, thrift, contrivance and good housekeeping at every stage in our life and production, and will reduce all our industries from a profit-making to a loss-making process."
React to this quote
More by Winston Churchill
See allResonant Thoughts
"That government only can be pronounced consistent with the design of all government, which allows to the governed the liberty of doing what, consistently with the general good, they may desire to do, …"
"The moment after, I began to respire 20 quarts of unmingled nitrous oxide. A thrilling, extending from the chest to the extremities, was almost immediately produced. I felt a sense of tangible extensi…"
Explore Further
Related Quotes
"As the story unfolds it is at 55 Dropsie Avenue where Frimme Hersh deals with God; where the street singer …"
— Will Eisner"It is also a fact that people who are isolated and alienated in their neighborhoods as a result of the larg…"
— Carl I. Hagen"For those diehard conspiracy theorists who will refuse to believe this, I turn the tables and say: show me …"
— Timothy McVeigh"The secession and the Confederacy's existence were predicated on slavery, on preserving and defending it ag…"
— William C. Davis (historian)"There is a crucial difference between the criminal and the outlaw. The criminal is a perverse rebel who act…"
— Sam Keen"Man surprised me most about humanity. Because he sacrifices his health in order to make money.Then he sacri…"
— James J. Lachard