Wang Anshi's Unconventional Wisdom
In the seventh year of the Qingli era of the Northern Song Dynasty, the Jiangnan region was plagued by continuous rain, lasting from March to September. Crops in the fields failed completely, affecting 127 counties. Rice prices soared; by October, they had risen from the original 400 wen per dan to 1,500 wen, leaving the common people in utter misery.
Officials in various prefectures of Jiangnan requested aid from the imperial court while simultaneously cracking down hard on price gouging and punishing profiteering merchants. Once someone was found inflating rice prices, they faced severe punishment: light offenses resulted in confiscation of property and conscription into military service, while serious offenses led to immediate execution. Through these thunderous measures, rice prices in Jiangnan finally stabilized, remaining around 500 wen per dan.