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Brian Griffiths

British economist, chief policy advisor to Prime Minister Margaret Thatcher

The market economy has been responsible for the transformation of the Western world from widespread poverty and degradation to an unprecedented spreading of prosperity. Similarly, in the contemporary world, the market economies of the West have been able to create wealth more efficiently and have secured for the poorest of their people a far higher level of per capita consumption than have the state-owned and state-planned economies of the socialist block. In the Third World today, the remarkable success of market-oriented economies such as Taiwan, South Korea, and Singapore in East Asia, and, to a lesser but significant extent, the Ivory Coast, Kenya and Malawi in Africa, in harnessing the inventiveness and entrepreneurial resources of their peoples is in marked contrast to the disappointing economic performance of countries that have relied on state planning and regulation, such as India, Tanzania and Mozambique.

quoted in D. Anderson, The Kindness that Kills, 1984