therefore, from every point of view, an ordered economy as distinguished from laissez
faire calls for the general acceptance of a code of values and a culture that can operate
as a law from within and supplement whatever external regulation it may be necessary or
feasible to impose.
Such a code of spiritual values
and such a Culture will help in the preservation of a sense of individual liberty and
initiative in the midst of complicated State regulations, to keep which sense alive is the
aim of those who seek to reconcile the new order with old liberty. Even those who took
upon this liberty as an outmoded illusion and plump unconditionally for regulation must
agree that a law operating from within is more efficient than one externally imposed, and
also less liable to evasion.
The baser elements of society try to exploit regulation and
make of it an opportunity for illegal gain either of power or wealth. One of the most
difficult practical problems in regulated economy is how to meet this evil. A well
accepted ethic and culture is the only solution.