During the late 1950s, Powell promoted control of the money supply to prevent inflation and, during the 1960s, was an advocate of free market policies, which at the time were seen as extreme, unworkable and unpopular. Powell advocated the privatisation of the Post Office and the telephone network as early as 1964, over 20 years before the latter actually took place; and 47 years before the former occurred. He both scorned the idea of "consensus politics" and wanted the Conservative Party to become a modern business-like party, freed from its old aristocratic and "old boy network" associations. In his 1958 resignation over public spending and what he saw as an inflationary economic policy, he anticipated almost exactly the views that during the 1980s came to be described as "monetarism".