Evolution of Economic Thought

 Fan Li

·         Name: Fan Li (范蠡)

·         Nationality: Chinese

·         Occupation: Economist

·         Period: 5th century BC

·         Accomplishments:Advised the King of Yue on how to defeat the King of Wu &Became a successful businessman after retiring from public life

 Fan Li's Economic Thought

Fan Li's economic thought was a synthesis of Legalism and Confucianism. He believed that the state should play a strong role in the economy, but that this role should be guided by moral principles.

                                 

The Legalist-Confucian Dichotomy  

Fan Li was able to balance the need for strong government and strict laws with the need for social harmony and moral cultivation. This synthesis allowed him to achieve significant economic success in the state of Yue. 

Here are some other Fan Li's key economic thoughts:

• Mutual benefit: The government and the people should work together to create a prosperous society.
• Economic growth: The government should promote economic growth through policies such as land reform, trade, and commerce.
• Protecting the poor: The government should protect the poor and vulnerable from exploitation.
• Fairness: The government should ensure that all people have equal opportunities to participate in the economy.

 Oh, Fan Li, master of wealth,

Your wisdom guides us to this day.

You taught us to share and to care,

To grow the economy in a way

That benefits all, not just the few.

You said, "Water flows from high to low,

And wealth should flow from rich to poor."

You showed us how to create abundance,

How to balance supply and demand,

And how to ensure that everyone has enough.

Your insights are as relevant today

As they were when you first spoke them.

In a world where inequality is rife,

Your words offer us a beacon of hope.

Contemporary Perspective

 Conclusion

Fan Li was a brilliant economist and statesman who was able to achieve significant economic success by combining the best of Legalism and Confucianism. His economic thought can still offer valuable insights for policymakers today.

Written by

Shainy Whittall

References

(vibrant, 2019)

(wikipedia)