John James Cowperthwaite
Charles Philip Haddon-Cave | |
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Personal details | |
Born | St Andrews University Christ's College, Cambridge | 25 April 1915
John James Cowperthwaite | |||||||||
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Traditional Chinese | 郭伯偉 | ||||||||
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Sir John James Cowperthwaite,
Early years
Cowperthwaite was born on 25 April 1915 in Edinburgh to John Cowperthwaite, a surveyor of taxes, and Jessie Jarvis.
Hong Kong
He arrived in Hong Kong in 1945 and was assigned to the Department of Supplies, Trade and Industry.[3] Cowperthwaite built on the economic policies of his predecessors, Arthur Clarke and Geoffrey Follows, promoting free trade, low taxation, budget surpluses, limited state intervention in the economy, a distrust of industrial planning, and sound money.[3] It was a policy mix that drew more on Adam Smith and Gladstone than on Keynes and Attlee. However, Cowperthwaite was a pragmatic civil servant rather than a theoretician and he based his policies on his experience, empirical data and what he believed would work in practice.[4]
He refused to compile GDP statistics arguing that such data was not useful to managing an economy and would lead to officials meddling in the economy.[5] He was once asked what the key thing that poor countries could do to improve their growth. Cowperthwaite replied:
They should abolish the office of national statistics.[6]
According to Catherine R. Schenk, Cowperthwaite's policies helped it to develop from one of the poorest places on earth to one of the wealthiest and most prosperous: "Low taxes, lax employment laws, absence of government debt, and free trade are all pillars of the Hong Kong experience of economic development."[7] The Economic Freedom of the World 2015 Report ranks Hong Kong as both the freest economy in the world, a distinction it has held since this index began ranking countries in 1975, and among the most prosperous.[8]
Throughout the 1960s, Cowperthwaite refused to implement free universal primary education, contributing to relatively high illiteracy rates in today's older generation. Compulsory education was only introduced under the governorship of
In 1960, he was appointed as an
Commentators have credited his management of the economy of Hong Kong as a leading example of how small government encourages growth.[14][15]
Post–civil service career
After leaving his retirement, he was international adviser to Jardine Fleming, the Hong Kong–based investment bank until 1981. He retired and left Hong Kong for St Andrews, Scotland and became a member of The Royal and Ancient Golf Club of St Andrews.
Personal life and death
He married Sheila Thomson in 1941. They had one son. He died in Scotland on 21 January 2006, aged 90.
See also
References
- ISSN 0013-0613. Retrieved 12 April 2019.
- ^ Morriss, Andrew P. "Freedom Works: The Case of Hong Kong". fee.org/. Foundation for Economic Education. Retrieved 20 January 2022.
- ^ ISBN 978-1907994692.
- ^ Monnery, Neil (January 2018). "Sir John Cowperthwaite and the making of Hong Kong". Royal Economic Society.
- ^ Monnery, Neil. "Hong Kong's postwar transformation shows how fewer data can sometimes boost growth". London School of Economics Business Review.
- ^ Singleton, Alex (8 February 2006). "Obituary for Sir John Cowperthwaite". The Guardian.
- ^ Economic History of Hong Kong, Catherine R. Schenk, University of Glasgow, Economic History Association
- ^ Economic Freedom of the World Archived 28 September 2015 at the Wayback Machine, 2015 Annual Report
- ^ Writers blocked, Jason Wordie, South China Morning Post, 24 June 2012
- ^ Moving Millions: The Commercial Success and Political Controversies of Hong Kong's Railway, Rikkie Yeung, Hong Kong University Press, 2008 p. 69
- ^ "No. 41909". The London Gazette (Supplement). 29 December 1959. p. 24.
- ^ "No. 43200". The London Gazette (Supplement). 31 December 1963. p. 4.
- ^ "No. 44600". The London Gazette (Supplement). 31 May 1968. p. 6317.
- Channel 4. Retrieved 26 September 2014.
- ISBN 978-0-87113-760-9.
External links
- Britain's Trillion Pound Horror Story · Watch on 4OD · Play on 4OD Player
- Tribute to John James Cowperthwaite by The Lion Rock Institute of Hong Kong
- Sir John Cowperthwaite obituary from the Daily Telegraph
- Sir John Cowperthwaite obituary from The Guardian
- Hong Kong's Nightwatchman[usurped] by Tim Worstall
- The Hong Kong Experiment by Milton Friedman