Positive non-interventionism was the economic policy of Hong Kong, which American economist who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory, and the complexity of stabilization policy, has cited it as a fairly comprehensive implementation of laissez-faire policy?
Positive non-interventionism Positive non-interventionism was the economic policy of Hong Kong; this policy can be traced back to the time when Hong Kong was under British rule. It was first officially implemented in 1971 by Financial Secretary of Hong Kong John Cowperthwaite, who observed that the economy was doing well in the absence of government intervention but it was important to create the regulatory and physical infrastructure to facilitate market-based decision making. The policy was continued by subsequent Financial Secretaries, including Sir Philip Haddon-Cave. Economist Milton Friedman has cited it as a fairly comprehensive implementation of laissez-faire policy, although Haddon-Cave has stated that the description of Hong Kong as a laissez-faire society was "frequent but inadequate".
Robin Hahnel Robin Eric Hahnel (born March 25, 1946) is an American economist and professor of economics at Portland State University. He was a professor at American University for many years and traveled extensively advising on economic matters all over the world. He is best known for his work on participatory economics with "Z Magazine" editor Michael Albert.