private enterprise is because we believe that economic progress comes from the inventiveness, ability, determination and the pioneering spirit of extraordinary men and women. If they cannot exercise that spirit here, they will go away to another free enterprise country which will then make more economic progress than we do. We ought, in fact, to be encouraging small firms and small companies, because the extent to which innovation comes through these companies is tremendous." - Meaning and context.">
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Speech to Conservative Party Conference (20 October 1967)
“

The...philosophical reason for which we are against nationalisation and for private enterprise is because we believe that economic progress comes from the inventiveness, ability, determination and the pioneering spirit of extraordinary men and women. If they cannot exercise that spirit here, they will go away to another free enterprise country which will then make more economic progress than we do. We ought, in fact, to be encouraging small firms and small companies, because the extent to which innovation comes through these companies is tremendous.

— Margaret Thatcher

What It Means

This is a placeholder explanation generated by the low-overhead model. It interprets "The...philosophical reason for which we are against nationalisation and for private enterprise is because we believe that economic progress comes from the inventiveness, ability, determination and the pioneering spirit of extraordinary men and women. If they cannot exercise that spirit here, they will go away to another free enterprise country which will then make more economic progress than we do. We ought, in fact, to be encouraging small firms and small companies, because the extent to which innovation comes through these companies is tremendous." in the context of "Speech to Conservative Party Conference (20 October 1967)" to mean that wisdom is timeless.

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Source: Wikiquote: "Margaret Thatcher" (Quotes, Backbench MP) The 'What it means' explanation text was generated by Google Gemini Flash (accessed January 18, 2026). https://gemini.google.com/app

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#Margaret Thatcher#enterprise#companies#economic#progress#spirit#comes#small#thephilosophical#nationalisation#inventiveness#determination
Margaret Thatcher

About Margaret Thatcher

Margaret Hilda Thatcher, Baroness Thatcher (13 October 1925 – 8 April 2013) was a British politician and stateswoman who served as Prime Minister of the United Kingdom from 1979 to 1990 and Leader of the Conservative Party from 1975 to 1990. She was the first female British prime minister and the longest-serving British prime minister of the 20th century. As prime minister, she implemented neoliberal economic policies of deregulation and privatization that became known as Thatcherism. A Soviet journalist dubbed her the "Iron Lady", a nickname that became associated with her uncompromising politics and leadership style.