There was a middle way between capitalism and socialism. 'I do not want to see impaired the vigour of competition,' Churchill told his Glasgow audience, 'but we can do much to mitigate the consequences of failure. We want to draw a line below which we will not allow persons to live and labour, yet above which they may compete with all the strength of their manhood. We want to have free competition upwards; we decline to allow free competition to run downwards. We do not want to pull down the structures of science and civilisation; but to spread a net over the abyss.
( Martin Gilbert )
[ Churchill: A Life ]
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