Official opposition to overall economic planning and…
“Official opposition to overall economic planning and planning controls has been characterized in a recent editorial as "Papa knows best." But it is precisely because Papa does not know best that I believe that Government should not presume to tell any businessman or industrialist what he should or should not do, far less what he may or not do; and no matter how it may be dressed up that is what planning is.”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
Cowperthwaite argues that government planning is a paternalistic “Papa knows best” approach that assumes expertise it lacks, advocating for market freedom over top‑down control.
In simple terms: Government planning assumes false expertise.
Key Takeaway
Trust market mechanisms over paternalism.
Themes
economics
freedom
government
policy
libertarianism
Mood
analytical
critical
Type
economic
political
When to use this quote
- business strategy
- public policy
- economic education
- entrepreneurship
Key Concepts
spontaneous order
individual liberty
regulatory critique
Questions to Reflect On
- When is planning necessary?
- How to balance freedom with protection?
A Different Perspective
Markets can fail without oversight.