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Quote by 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.”

Quote by John James Cowperthwaite

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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

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“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.”

“My own views on all matters of public revenue and public expenditure are conditioned by an acute appreciation of whose is the sacrifice that produces public revenue and to whom accrues the benefit of public spending.”

Matter My Own Views Sacrifice Produce Benefits Appreciation Spending Revenue Expenditures

Author:John James Cowperthwaite

“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.”

Government Running Process Economy Balance Circumstances Pressure Etc More Money Reserves Severe Taxation Inflation Deficit Payment Monetary Borrowing Financing

Author:John James Cowperthwaite

“I am afraid that I do not believe that any body of men can have enough knowledge of the past, the present and the future to establish "development priorities" - which presumably means procuring some developments as being good and prohibiting others as being bad.”

Men Believe Mean Enough Body Past Development Be Good Priorities Being Bad Knowledge Of The Past

Author:John James Cowperthwaite

“It seems to never occur to fools that merit and good fortune are closely united.”

Seems Literature United Fool Fortune Merit Good Fortune

Author:Johann Wolfgang von Goethe

“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.”