Reading response on “Laissez-Faire Policy” From Principles of Confucious and HisSchool by Chen-Huan ChangQ: 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:
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