Question: Positive non-interventionism was the economic policy of Hong Kong, which American economist who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory, and the complexity of stabilization policy, has cited it as a fairly comprehensive implementation of laissez-faire policy?

full_context: Document 1: Banking Ordinance: The Banking Ordinance is a set of laws passed by the Legislative Council of Hong Kong to tighten restrictions for opening up or licensing a bank. Prior to the 1964 re-regulations, the government had no way to control bank's monetary effect on the economy. It also had no way of protecting the people utilizing the institutions. Banking was considered a Laissez-faire network, and was also described as "Free Banking" or "Wildcat Banking" filled with much uncertainty.
Document 2: Milton Friedman: Milton Friedman ( ; July 31, 1912 – November 16, 2006) was an American economist who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory, and the complexity of stabilization policy. With George Stigler and others, Friedman was among the intellectual leaders of the second generation of Chicago price theory, a methodological movement at the University of Chicago's Department of Economics, Law School, and Graduate School of Business from the 1940s onward. Several students and young professors that were recruited or mentored by Friedman at Chicago went on to become leading economists; they include Gary Becker, Robert Fogel, Thomas Sowell, and Robert Lucas, Jr.
Document 3: Friedrich Hayek: Friedrich Hayek CH ( ; ] ; 8 May 189923 March 1992), born in Austria-Hungary as Friedrich August von Hayek and frequently referred to as F. A. Hayek, was an Austrian-British economist and philosopher best known for his defense of classical liberalism. Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences with Gunnar Myrdal for his "pioneering work in the theory of money and economic fluctuations and ... penetrating analysis of the interdependence of economic, social and institutional phenomena."
Document 4: Four big families of Hong Kong: The Four big families of Hong Kong () are an initial group of Chinese families. Today, the Big Four families and their descendants are Fortune Global 500 companies with multinational corporations and listings from the London Stock Exchange to the New York Stock Exchange. Along with their European mostly British rivals in colonial Hong Kong, they were responsible for much of the foundations of the territory including its economy, finance, and trade, whilst the British government provided the first codified legal system which until then and in most of China today, was lacking. The four big families begin with the Chinese surname Li, Ho, Hui and Lo. Respectively the head of four families are Li Sek-peng (), Robert Ho (), Hui Oi-chow () and Lo Cheung-shiu (). Today the two families most recognizable by regular Hong Kong citizens are the Li and Ho group descendants.
Document 5: Unofficial Member: Unofficial Member () is the name given to individuals who are members of the Executive Council of Hong Kong and Legislative Council of Hong Kong but who are not members of the Hong Kong Government. Before the direct election of Legislative Council members in 1991, the Government reflected the views and opinions of Hong Kong society by appointing members of the business and social elites to the two councils. These members acted as a bridge between local residents and the Government. From 1960s to 1980, the "unofficial members of both councils, together formed the UMELCO Office which handled the complaints of Hong Kong residents.
Document 6: Economy of Hong Kong: As one of the world's leading international financial centres, Hong Kong's service-oriented economy is characterized by its low taxation, almost free port trade and well established international financial market. Its currency, called the Hong Kong dollar, is legally issued by three major international commercial banks, and pegged to the US dollar. Interest rates are determined by the individual banks in Hong Kong to ensure it is fully market-driven. There is no officially recognised central banking system, although Hong Kong Monetary Authority functions as a financial regulatory authority. When destabilising factors are hitting the financial market of Hong Kong, they will be monitored and inspected by the Hong Kong Monetary Authority, the financial regulatory agency in Hong Kong. Electronic finance trading is evolutionarily impacting the financial market of Hong Kong.
Document 7: Robert Solow: Robert Merton Solow, GCIH ( ; born August 23, 1924), is an American economist, particularly known for his work on the theory of economic growth that culminated in the exogenous growth model named after him. He is currently Emeritus Institute Professor of Economics at the Massachusetts Institute of Technology, where he has been a professor since 1949. He was awarded the John Bates Clark Medal in 1961, the Nobel Memorial Prize in Economic Sciences in 1987, and the Presidential Medal of Freedom in 2014. Three of his PhD students, George Akerlof, Joseph Stiglitz, and Peter Diamond, later received Nobel Memorial Prizes in Economic Sciences in their own right.
Document 8: Douglass North: Douglass Cecil North (November 5, 1920 – November 23, 2015) was an American economist known for his work in economic history. He was the co-recipient (with Robert William Fogel) of the 1993 Nobel Memorial Prize in Economic Sciences. In the words of the Nobel Committee, North and Fogel "renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change."
Document 9: Libertarian utopia: There have been many attempts and proposals to create a libertarian utopia. Anthony van Fossen writes that every tax haven is a variation on the theme of the sovereign libertarian utopia. The Pacific Islands have seen several attempts, such as the Republic of Minerva. Charter cities have been another proposal for breaking out of conventional political arrangements to create a system with much greater scope for innovation in rules. Robert Nozick's book "Anarchy, State and Utopia" contains a final chapter that describes a pluralistic libertarian utopia. Proposals for an anarcho-capitalist society are sometimes regarded as inherently utopian. David Boaz has argued that the consumer choice facilitated by a free market system would create a framework that could offer thousands of versions of utopia to suit the desires of different people.
Document 10: Positive non-interventionism: 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 observed that the economy was doing well in the absence of government intervention but 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, although Haddon-Cave has stated that the description of Hong Kong as a laissez-faire society was "frequent but inadequate".
Document 11: Paul Samuelson: Paul Anthony Samuelson (May 15, 1915 – December 13, 2009) was an American economist and the first American to win the Nobel Memorial Prize in Economic Sciences. The Swedish Royal Academies stated, when awarding the prize in 1970, that he "has done more than any other contemporary economist to raise the level of scientific analysis in economic theory". Economic historian Randall E. Parker calls him the "Father of Modern Economics", and "The New York Times" considered him to be the "foremost academic economist of the 20th century".
Document 12: Taxation in Hong Kong: Under Article 108 of the Basic Law of Hong Kong, the taxation system in Hong Kong is independent of, and different from, the taxation system in mainland China. In addition, under Article 106 of the Hong Kong Basic Law, Hong Kong enjoys independent public finance, and no tax revenue is handed over to the Central Government in China. The taxation system in Hong Kong is generally considered to be simple, transparent and straightforward among jurisdictions in the world. Taxes are collected through the Inland Revenue Department (IRD).
Document 13: Thomas Schelling: Thomas Crombie Schelling (April 14, 1921 – December 13, 2016) was an American economist and professor of foreign policy, national security, nuclear strategy, and arms control at the School of Public Policy at University of Maryland, College Park. He was also co-faculty at the New England Complex Systems Institute. He was awarded the 2005 Nobel Memorial Prize in Economic Sciences (shared with Robert Aumann) for "having enhanced our understanding of conflict and cooperation through game-theory analysis".
Document 14: Edward C. Prescott: Edward Christian Prescott (born December 26, 1940) is an American economist. He received the Nobel Memorial Prize in Economics in 2004, sharing the award with Finn E. Kydland, "for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles". This research was primarily conducted while both Kydland and Prescott were affiliated with the Graduate School of Industrial Administration (now Tepper School of Business) at Carnegie Mellon University. According to the IDEAS/RePEc rankings, he is the 19th most widely cited economist in the world today. In August 2014, Prescott was appointed as an Adjunct Distinguished Economic Professor at the Australian National University (ANU) in Canberra, Australia.
Document 15: Laissez-faire: Laissez-faire ( ; ] ; from French: "laissez faire" , 'let do' ) is an economic system in which transactions between private parties are free from government intervention such as regulation, privileges, tariffs, and subsidies. The phrase "laissez-faire" is part of a larger French phrase and basically translates to "let (it/them) do", but in this context usually means to "let go".
ground_truth: Milton Friedman