“I am not sure what is meant by those who say that the Party should return to something called "One Nation Conservatism". As far as I can tell by their views on European federalism, such people's creed would be better described as "No Nation Conservatism".”

Keith Joseph Memorial Lecture (11 January 1996) http://www.margaretthatcher.org/speeches/displaydocument.asp?docid=108353
Post-Prime Ministerial

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Margaret Thatcher 348
British stateswoman and politician 1925–2013

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“Conservatism is not a body of opinion, it has no set platform or creed, and hence, strictly speaking, there is no such thing as a hundred-per-cent conservative group or party”

Albert Jay Nock (1870–1945) American journalist

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Context: Lucius Cary, Viscount Falkland, managed to make himself a most conspicuous example of every virtue and every grace of mind and manner; and this was the more remarkable because in the whole period through which he lived — the period leading up to the Civil War — the public affairs of England were an open playground for envy, hatred, malice, and all uncharitableness. … He could not see that there was any inconsistency in his attitude. He then went on to lay down a great general principle in the ever — memorable formula, "Mr. Speaker, when it is not necessary to change, it is necessary not to change."
Here we get on track of what conservatism is. We must carefully observe the strength of Falkland's language. He does not say that when it is not necessary to change, it is expedient or advisable not to change; he says it is necessary not to change. Very well, then, the differentiation of conservatism rests on the estimate of necessity in any given case. Thus conservatism is purely an ad hoc affair; its findings vary with conditions, and are good for this day and train only. Conservatism is not a body of opinion, it has no set platform or creed, and hence, strictly speaking, there is no such thing as a hundred-per-cent conservative group or party … Nor is conservatism an attitude of sentiment. Dickens's fine old unintelligent characters who "kept up the barrier, sir, against modern innovations" were not conservatives. They were sentimental obstructionists, probably also obscurantists, but not conservatives.
Nor yet is conservatism the antithesis of radicalism; the antithesis of radical is superficial. Falkland was a great radical; he was never for a moment caught by the superficial aspect of things. A person may be as radical as you please, and still may make an extremely conservative estimate of the force of necessity exhibited by a given set of conditions. A radical, for example, may think we should get on a great deal better if we had an entirely different system of government, and yet, at this time and under conditions now existing, he may take a strongly conservative view of the necessity for pitching out our system, neck and crop, and replacing it with another. He may think our fiscal system is iniquitous in theory and monstrous in practice, and be ever so sure he could propose a better one, but if on consideration of all the circumstances he finds that it is not necessary to change that system, he is capable of maintaining stoutly that it is necessary not to change it. The conservative is a person who considers very closely every chance, even the longest, of "throwing out the baby with the bath-water," as the German proverb puts it, and who determines his conduct accordingly. And so we see that the term conservative has little value as a label; in fact, one might say that its label-value varies inversely with one's right to wear it.... It covers so much that looks like mere capriciousness and inconsistency that one gets little positive good out of wearing it; and because of its elasticity it is so easily weaseled into an impostor-term or a term of reproach, or again into one of derision, as implying complete stagnation of mind, that it is likely to do one more harm than it is worth.

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“If you analyze it I believe the very heart and soul of conservatism is libertarianism. I think conservatism is really a misnomer just as liberalism is a misnomer for the liberals — if we were back in the days of the Revolution, so-called conservatives today would be the Liberals and the liberals would be the Tories. The basis of conservatism is a desire for less government interference or less centralized authority or more individual freedom and this is a pretty general description also of what libertarianism is. Now, I can’t say that I will agree with all the things that the present group who call themselves Libertarians in the sense of a party say, because I think that like in any political movement there are shades, and there are libertarians who are almost over at the point of wanting no government at all or anarchy. I believe there are legitimate government functions. There is a legitimate need in an orderly society for some government to maintain freedom or we will have tyranny by individuals. The strongest man on the block will run the neighborhood. We have government to ensure that we don’t each one of us have to carry a club to defend ourselves. But again, I stand on my statement that I think that libertarianism and conservatism are traveling the same path.”

Ronald Reagan (1911–2004) American politician, 40th president of the United States (in office from 1981 to 1989)

Interview published in Reason (1 July 1975)
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