Sang Hongyang

Sang Hongyang established government monopolies over the production and sale of salt and iron. These monopolies generated substantial revenue for the Han treasury, enabling Emperor Wu's expansionist policies, but also faced criticism for stifling private enterprise.

Sang Hongyang introduced the 'equalization and standardization' (junshu) system to stabilize prices and transport goods. The government bought surplus goods in regions of abundance and sold them in areas of scarcity, controlling commerce and increasing state revenue.

Sang Hongyang was appointed as Superintendent of Agriculture (Da Sinong) under Emperor Wu of Han. He became the chief financial officer responsible for implementing state monopolies on salt, iron, and liquor to fund military campaigns.

After Emperor Wu's death, Sang Hongyang was accused of conspiring with the regent Huo Guang's rivals. He was executed along with his family, ending his economic reforms temporarily, though many were later reinstated.