"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."

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Added on April 10, 2026
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Original Language: English

Sources

March 24, 1966, page 216.

https://en.wikiquote.org/wiki/John_James_Cowperthwaite