A Close Reading of the Discourses on Salt and Iron

The Discourses on Salt and Iron is the earliest work of economics in history, but it also covers a great deal of politics, sociology, and management. Written during the reign of Emperor Zhao of the Western Han dynasty, the book arose because a series of Emperor Wu's policies had seriously harmed the private economy. Chancellor Huo Guang wanted to change some of these misguided policies, so he ordered scholars from among the common people to be summoned and invited to offer proposals. The book records their discussions with the minister Sang Hongyang and Chancellor Huo Guang.