“Faced with the difficulties of unilateral reflation, some socialists are tempted to seek salvation through trade restrictions or competitive devaluation. But such beggar-my-neighbour policies, if pursued on the scale required…are more likely to lead to a trade and currency war than to insulate their sponsors from the recession in the outside world.”

— Denis Healey

Speech to the twelfth congress of the Confederation of Socialist Parties of the EEC in Paris (12 November 1982), quoted in The Times (13 November 1982), p. 3
1980s

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Denis Healey32

British Labour Party politician and Life peer 1917–2015

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