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About: Positive non-interventionism     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:WikicatEconomicIdeologies, within Data Space : dbpedia.demo.openlinksw.com associated with source document(s)

Type: yago:Abstraction100002137yago:Attitude106193203yago:Cognition100023271yago:Orientation106208021yago:PoliticalOrientation106212839yago:PsychologicalFeature100023100organisationyago:WikicatEconomicIdeologies New Facet based on Instances of this Class

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 believed that the economy was doing well in the absence of government intervention but that 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.