Quotessence
Home / Quotes / Quote by John James Cowperthwaite

Quote by 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.”

Quote by John James Cowperthwaite

Create image

Author

John James Cowperthwaite
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

“Deficit financing proper is rather the process whereby a Government spends more money that it withdraws from the economy by taxation, borrowing, running down reserves, etc.; thereby causing in most circumstances, and very acutely in ours, monetary inflation and severe pressure on the balance of payments.”

GovernmentRunningProcessEconomyBalanceCircumstancesPressureEtcMore MoneyReservesSevereTaxationInflationDeficitPaymentMonetaryBorrowingFinancing
Author:John James Cowperthwaite
Create image

“If people want consultative government, the price is increased complexity and delay in arriving at decisions. If they want speed of government, then they must accept a greater degree of authoritarianism. I suspect that the real answer is that most people prefer the latter so long, that is, as government's decisions conform with their own views.”

PeopleIfsWantLongRealGovernmentDecisionAnswersViewsAcceptingGreaterDegreesSpeedComplexityLatterSuspectsConformDelayAuthoritarianismArrivingAuthoritarian Government
Author:John James Cowperthwaite
Create image

“What gives me concern in so much of the comment is the implication that the people of Hong Kong have to be given a reward, like children, for being good last year, and bribed, like children, into being good next year. I myself repudiate this paternalistic, indeed colonialist, attitude as a gross insult to our people.”

PeopleGivingYearsChildrenLastsNextGivenAttitudeConcernGive MeRewardsBe GoodInsultCommentLast YearGrossNext YearImplicationsHong Kong
Author:John James Cowperthwaite
Create image

“I hold that two principles are important; first that there should be a steady expansion of public services, not an irregular one related to revenue accruing in any particular year; the second that taxes should be constant over long periods (provided, that is, that they are neither burdensome nor inequitable).”

ShouldYearsFirstsLongTwoImportantPrinciplesParticularPeriodsTaxesConstantRelatedSteadyExpansionRevenuePublic Service
Author:John James Cowperthwaite
Create image