Yquotes.com

 

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.
--
March 24, 1966, page 216.

 

John James Cowperthwaite

» John James Cowperthwaite - all quotes »

Similar quotes

 

When I think about the kind of individual I want in the Oval Office in that moment of crisis, who has to make those key decisions, some of them life-and-death decisions, some of them decisions as commander-in-chief, who has the responsibility for sending some of our young men and women into harm's way, that man is Mitt Romney.

 

Mitt Romney

 

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

 

The proper role of government is exactly what John Stuart Mill said in the middle of the 19th century in On Liberty. The proper role of government is to prevent other people from harming an individual. Government, he said, never has any right to interfere with an individual for that individual's own good.
The case for prohibiting drugs is exactly as strong and as weak as the case for prohibiting people from overeating. We all know that overeating causes more deaths than drugs do. If it's in principle OK for the government to say you must not consume drugs because they'll do you harm, why isn't it all right to say you must not eat too much because you'll do harm? Why isn't it all right to say you must not try to go in for skydiving because you're likely to die? Why isn't it all right to say, "Oh, skiing, that's no good, that's a very dangerous sport, you'll hurt yourself"? Where do you draw the line?

 

Milton Friedman

 

Political freedom is neither easy nor automatic, neither pleasant nor secure. It is the responsibility of the individual for the decisions of society as if they were his own decisions--as in moral truth and accountability they are.

 

Peter F. Drucker

 

The path away from economic freedom is, as Hayek long ago demonstrated, the road to serfdom. The road may be a long one: the pace may be swift or slow: but the destination cannot be changed. State ownership, state monopolies, state regulation and state planning, through the centralisation of economic power, inevitably lead to economic failure. They inevitably increase both the temptation and the scope for abuses of political power until freedom itself is threatened. The planned economies, the controlled societies which socialism requires, pervert what are truly economic decisions for the market into political decisions for the politician or the bureaucrat. The fruits of centralised economics are corruption, poverty and servility—and in the socialist society the only medicine which may be prescribed is heavier doses of the same socialist poison.

 

Norman Tebbit