Cowperthwaite and Hong Kong

Every now and then there is a civil servant who makes a difference. The Most Powerful Wealth Generator There Is is the story of one such colonial administrator.

At some point during our first conversation I managed to irk him by suggesting that he was chiefly known “for doing nothing.” In fact, he pointed out, keeping the British political busy-bodies from interfering in Hong Kong’s economic affairs took up a large portion of his time. Throughout Sir John’s tenure in office, the British political elite tried to impose its own ailing socialist economic model on Britain’s colonies, including Hong Kong. Sir John managed to quash all such attempts and Hong Kong benefited as a result.

The answer to growth is as simple as that. Liberty, the ability to own your own property, make your own mistakes and chart your own destiny is the key to growth for everybody. When you are free to pursue wealth, wealth happens. That’s because when people make free exchanges, both sides benefit from the exchange. When that happens, business and civilization thrive and grow.

and then there’s Venezuela…

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