I’ve written before about the tremendous success of Hong Kong. The jurisdiction routinely is ranked as being the world’s freest economy, and its fiscal policy is a role model for spending restraint.
One reason Hong Kong has prospered is that it has enjoyed a policy of benign neglect, particularly when it was a British colony prior to 1997. More specifically, the United Kingdom by happenstance appointed John Cowperthwaite to help govern the colony. And his view of governing was to leave things alone.
…while the mother country lurched in a socialist direction at home under Clement Attlee, Cowperthwaite became an advocate of what he called “positive non-interventionism” in HK.
Cowperthwaite was especially wise in realizing that collecting statistics was risky because advocates of big government would want to justify and implement intervention on the basis of data.
To Cowperthwaite, the planner’s quest for statistics was anathema. So he…
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