Positive Non-interventionism
This policy has often been cited by economists such as Milton Friedman and the Cato Institute as an example of the benefits of laissez-faire capitalism. However others have argued that the economic strategy was inadequately characterised by the term laissez-faire. They point out that there are still many ways in which the government is involved in the economy. The government has intervened to create economic institutions such as the Hong Kong Stock Market and has been involved in public works projects and social welfare spending. All land in Hong Kong is owned by the government and leased to private users. By restricting the sale of land leases, the Hong Kong government keeps the price of land at what some would say are artificially high prices and this allows the government to support public spending with a low tax rate.
Read more about this topic: Economy Of Hong Kong
Famous quotes containing the word positive:
“Blessed be the inventor of photography! I set him above even the inventor of chloroform! It has given more positive pleasure to poor suffering humanity than anything else that has “cast up” in my time or is like to—this art by which even the “poor” can possess themselves of tolerable likenesses of their absent dear ones. And mustn’t it be acting favourably on the morality of the country?”
—Jane Welsh Carlyle (1801–1866)