Comment: Lao Zi is indeed the modern Pinyin romanization

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Lao Zi is indeed the modern Pinyin romanization

but the Wade romanization Lao Tzu is not actually "incorrect", it's an alternative "spelling". Somehow "Lao Tzu" looks more authentically Chinese than "Lao Zi".

"Tao" and "Tofu" are somewhat more "problematic" Wade calques, as they actually lead away from the original "dao" and "doufu".