Communism produces neither dignity nor prosperity. It takes all power away from the people and places it in the hands of a self-appointed elite. And because it distorts and manipulates the distinctive talents of individuals rather than letting those talents flourish, it prevents progress and prosperity.
We need a free economy not only for the renewed material prosperity it will bring, but because it is indispensable to individual freedom, human dignity and to a more just, more honest society.
My belief in free competitive economic enterprise does not rest solely or even mainly on arguments of economic efficiency, though, heaven knows, these are cogent enough. It rests essentially on the view that the free market is the only safe way of ensuring that productive effort is directed towards supplying what individuals actually want, and in a way which secures the dignity and independence of the worker.
Our first duty to liberty is to keep our own. But it is also our duty - as Europeans - to keep alive in the Eastern as well as the Western half of our continent those ideas of human dignity which Europe gave to the world. Let us therefore resolve to keep the lamps of freedom burning bright so that all who look to the West from the shadows of the East need not doubt that we remain true to those human and spiritual values that lie at the heart of European civilization.
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