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[Quote No.54645] Need Area: Friends > General
"[Free market capitalism:] 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 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." - Sir John James Cowperthwaite
(1915–2006), British civil servant and the Financial Secretary of Hong Kong from 1961 to 1971. His introduction of free market economic policies are widely credited with turning post-war Hong Kong into a thriving global financial centre. As quoted in 1962.
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[Quote No.54807] Need Area: Friends > General
"[Crony capitalism is not to be confused with free market capitalism as it does not have its vigour nor ethical meritocracy:] I must confess my distaste for any proposal to use public funds for the support of selected, and thereby, privileged, industrialists, the more particularly if this is to be based on bureaucratic views of what is good and what is bad by way of industrial development." - John James Cowperthwaite

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