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John James Cowperthwaite Quotes
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I was particularly struck in this context by my honourable Friend, Mr K. S. Lo's concern at the decline in the enamelware industry as an example of the effect of lost advantages, as if this decline were a loss rather than a gain to the community. It has declined, I believe, because we have learned to use our resources of enterprise, capital and labour in other more profitable directions. That is progress. We would be in a sorry way if enamelware was still our fourth biggest industry.
John James Cowperthwaite
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What mystifies me is how he or any one else can determine what is a desirable type of industry such as should qualify for special assistance of this kind. In my own simple way I should have thought that a desirable industry was, almost by definition, one which could establish itself and thrive without special assistance in ordinary market conditions. Anything else suggests a degree of omniscience which I, at least, am not prepared to credit even the most expert with. I trust the commercial judgment only of those who are themselves taking the risks.
John James Cowperthwaite
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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.
John James Cowperthwaite
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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.
John James Cowperthwaite
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Official opposition to overall economic planning and planning controls has been characterized in a recent editorial as "Papa knows best". But it is precisely because Papa does not know best that I believe that Government should not presume to tell any businessman or industrialist what he should or should not do, far less what he may or not do; and no matter how it may be dressed up that is what planning is.
John James Cowperthwaite
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John James Cowperthwaite
Born:
April 25, 1915
Died:
January 21, 2006
(aged 90)
Bio:
Sir John James Cowperthwaite was a British civil servant and the Financial Secretary of Hong Kong from 1961 to 1971.
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revenue
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tax
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future
capital
judgment
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