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".
The Conscience of a Liberal The Conscience of a Liberal is a 2007 book written by economist and Nobel laureate Paul Krugman. It was 24th on the "New York Times Best Seller list" in November 2007. The title was used originally in Senator Paul Wellstone's book of the same name in 2001. Wellstone's title was a response to Barry Goldwater's 1960 book "The Conscience of a Conservative". In the book, Krugman studies the past 80 years of American history in the context of economic inequality. A central theme is the reemergence of both economic and political inequality since the 1970s. Krugman analyzes the causes behind these events and proposes a "new New Deal" for America.