Reading response on Laissez Faire Policy From Principles of Confucious and His School by Chen Huan Chang Q What is Confucianism A A system of ethical and philosophical teaching that was found by Confucius and developed by Mencius Urban Dictionary It is an ancient Chinese belief system which focuses on the importance of morality and personal ethics This is what I understand and conclude from the reading Chang argues that the government should not be telling us what to do and that we do not need their dictation of economic policy or regulation of business He advocates for self regulation He argues that we need more people to conduct business affairs and that the government should be self regulating for the best interests of society His idea of an ideal government is one where everyone is self righteous and moral and where there is ultimately no need for government self interest should be the foundation for economic policy He promotes the laissez faire policy because he thinks that the government will disrupt the natural process of production and if it is left free it will bring great wealth to society Furthermore he argues that the division between rich and poor is created by free competition and that the employment of the poor depends on the rich His final aim is enlarged production and equalizing distribution which is the Confucians Divisions of economics In the Confucian school they argue that there should be more producers than consumers that producers should be swift and consumers should not be greedy this is how wealth will increase I do not agree with Chang Looking at the problems we face in today s society world we can see that people are everything but self righteous and I think that rules and regulations are necessary to limit these problems Sources https education nationalgeographic org resource confucianism
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