Home / Quotes / Quote by John James Cowperthwaite

Quote by John James Cowperthwaite

“Over a wide field of our economy it is still the better course to rely on the nineteenth century's "hidden hand" than to thrust clumsy bureaucratic fingers into its sensitive mechanism. In particular, we cannot afford to damage its mainspring, freedom of competitive enterprise.”

Quote by John James Cowperthwaite

Author

John James Cowperthwaite

John James Cowperthwaite was an individual of unknown category. His life story is limited, and detailed information is not available. He made some contributions, but specific achievements are unclear. His impact and evaluation are not available due to insufficient information. more

You May Also Like

“One trouble is that when Government gets into a business it tends to make it uneconomic for anyone else.”

Government Trouble

Author:John James Cowperthwaite

“I am also, I must confess, a little sceptical of the theory that we have a right, if we could, to pass on our capital burden to future generations. I remarked last year in this context that our predecessors had not passed any significant part of their burden on to us.”

Ifs Years Littles Lasts Generations Theory Burden Significant Last Year Future Generation Predecessors

Author:John James Cowperthwaite

“Be above it! Make the world serve your purpose, but do not serve it.”

World Purpose Literature

Author:Johann Wolfgang von Goethe

“We enjoy a considerable net inflow of capital and I am sure that a condition of its coming, and staying, is that it is free to flow out again. It is also important for Hong Kong's status as a financial centre that there should be a maximum freedom of capital movement both in and out.”

Should Important Enjoy Conditions Movement Flow Financial Staying Centre Maximum Hong Kong

Author:John James Cowperthwaite

“I should like to begin with a philosophical comment. I do not think that when one is speaking of hardships or benefits one can reasonably speak in terms of classes or social groups but only in terms of individuals.”

Thinking Should Individual Speak Social Term Class Groups Benefits Philosophical Hardship Comment Social Groups

Author:John James Cowperthwaite

“Money cannot be converted into houses or trained teachers or hospitals at the touch of a magic wand. There are limitations to our physical and intellectual resources.”

House Teacher Magic Intellectual Resources Limitation Hospitals Wands Magic Wands

Author:John James Cowperthwaite

“Revenue has increased in this way is in no small measure, I am convinced, due to our low tax policy which has helped to generate an economic expansion in the face of unfavourable circumstances.”

Way Faces Economic Policy Circumstances Taxes Lows Dues Convinced Expansion Revenue

Author:John James Cowperthwaite

“I would suggest to my honourable Friend that the foreign investor is at least as discouraged by high national debt for that, as all example shows, is the surest precursor of high taxation.”

Shows Example Debt Investors Taxation Discouraged National Debt Precursor

Author:John James Cowperthwaite

“I largely agree with those that hold that Government should not in general interfere with the course of the economy merely on the strength of its own commercial judgment. If we cannot rely on the judgment of individual businessmen, taking their own risks, we have no future anyway.”

Ifs Should Government Courses Individual Economy Risk Judgment Agree Rely Interfere Businessman

Author:John James Cowperthwaite

“I still believe that, in the long run, the aggregate of the decisions of individual businessmen, exercising individual judgment in a free economy, even if often mistaken, is likely to do less harm than the centralized decisions of a Government; and certainly the harm is likely to be counteracted faster. As I said earlier in this debate, our economic medicine may be painful but it is fast and powerful because it can act freely.”