“I myself have no doubt in the past tended to appear to many to be more concerned with the creation of wealth than with its distribution. I must confess that there is a degree of truth in this, but to the extent that it is true, it has been because of my conviction that the rapid growth of the economy, and the pressure that comes with it on demand for labour, both produces a rapid and substantial redistribution of income directly of itself and also makes it possible to assist more generously those who are not, from misfortune temporary or permanent, sharing in the general advance. The history of our last fifteen years or so demonstrates this conclusively.”
February 26, 1969, page 104.
Official Report of Proceedings of the Hong Kong Legislative Council
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John James Cowperthwaite 38
British colonial administrator 1915–2006Related quotes

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Source: A System of Logic (1843), p. 4
Context: [W]e may fancy that we see or feel what we in reality infer. Newton saw the truth of many propositions of geometry without reading the demonstrations, but not, we may be sure, without their flashing through his mind. A truth, or supposed truth, which is really the result of a very rapid inference, may seem to be apprehended intuitively. It has long been agreed by thinkers of the most opposite schools, that this mistake is actually made in so familiar an instance as that of the eyesight. There is nothing of which we appear to ourselves to be more directly conscious, than the distance of an object from us. Yet it has long been ascertained, that what is perceived by the eye, is at most nothing more than a variously coloured surface; that when we fancy we see distance, all we really see is certain variations of apparent size, and degrees of faintness of colour; and that our estimate of the object's distance from us is the result of a comparison (made with so much rapidity that we are unconscious of making it) between the size and colour of the object as they appear at the time, and the size and colour of the same or of similar objects as they appeared when close at hand, or when their degree of remoteness was known by other evidence. The perception of distance by the eye, which seems so like intuition, is thus, in reality, an inference grounded on experience; an inference, too, which we learn to make; and which we make with more and more correctness as our experience increases; though in familiar cases it takes place, so rapidly as to appear exactly on a par with those perceptions of sight which are really intuitive, our perceptions of colour.

Source: Private Rights and Public Illusions (1994), p. 154

Speech in Manchester (21 April 1908), quoted in Better Times: Speeches by the Right Hon. D. Lloyd George, M.P., Chancellor of the Exchequer (London: Hodder & Stoughton, 1910), p. 46.
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The Counter-Revolution in Monetary Theory (1970) <!-- ([[w:Institute of Economic Affairs
Context: Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output. … A steady rate of monetary growth at a moderate level can provide a framework under which a country can have little inflation and much growth. It will not produce perfect stability; it will not produce heaven on earth; but it can make an important contribution to a stable economic society.

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Source: Notebook VII, The Chapter on Capital, pp. 628–629.

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