What were Winston Churchill's views on socialism?

by MisterBadIdea2

I ask because there's a quote floating around the office from Churchill, "Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery." Even though I'm not sure if that's a real quote, I would not be surprised if it fairly represented him. But a quote needs context, so I turn to you guys. What were Churchill's economic views?

/edit While trying to do my own research, I think "socialism" may have a different meaning in 1940s England than what it would mean to modern American conservatives like my officemates.

TheDuckontheJuneBug

I believe the text of the speech is here: http://www.freerepublic.com/focus/bloggers/2364841/posts

I've been unable to find the full text on a scholarly site, but this seems to be the same speech. This seems to indicate he used the same quote in a later speech.

As to whether his thoughts on socialism shifted through the years, here he is 40 years earlier, expressing much the same opinions.

In short: He didn't like it, not one bit.

Edit: Down voted? Edited again: Seriously, what's wrong with this answer?