0
The government takes a "hands off" approach to businesses
Aileen Morissette
Wiki User
∙ 13y agoSome would say that this attitude is what brought the U.S., and indeed, the entire world to this current economic crises. As we ate cake, Rome was burning . . . . so to speak.
Whilst everyone was buying their third house, remortgaging, taking out second and third mortgages, flipping houses, setting up credit lines and investing in real estate and the Stock Market, the bubble was growing. Simultaneously, the "Derivative Market," thanks in large part to the Real Estate Market, exploded, selling the same crap over-and-over, ad nauseum, until apparently, worldwide, the Derivatives Market sold three or four times the entire worlds GDP.
Yes, we ate cake! Rome has burned!
Our stomachs now ache and we're hungover from the lust and greed of "things" most of us didn't need, yet most of us so earnestly sought . . . . . Ironically, all this happened not only at the insistence of our Political Leaders, but with their help. You see, most, if not all of what happened would not have been possible were it not for their Legislation, change of Legislation or lack of Legislation. They weren't complicit, they are responsible. Whilst Rome was burning, they got Marshmallow's for roasting and did nothing . . . . but wait for the inevitable. Traitors!
And now we have a laissez-faire attitude about what our political leaders did to us and the entire world economy.
Wiki User
∙ 9y agoLaizzez-faire did help the economy. The word literally means leave it alone, let them do as they will, or let it be.
Add your answer:
Earn +20 pts
What term best describes the US economy policy during the era of the rise of big businesses?
laissez-faire
Did the protection of private property by the 5th Amendment of the Constitution demonstrates the federal government's total laissez-faire approach to the US economy?
It is False.
Why did laissez faire not work in the US and England?
because it didnt.
Why did the US government shift away from laissez faire?
to reduce the abuse of big businesses g'day longwood students
Would you characterize all of the US government's policies in the late 1800s toward business as laissez-faire?
Generally speaking, the US government policy in the late 1800s, also called the Gilded Age, was laissez-faire. There were a few exceptions to this policy, so the term "all" is incorrect, but overwhelmingly, YES.
What is the economic policy of laissez - faire?
Laissez -faire is a French term that means the avoidance of government control of the business and of the economy. This idea has been replaced with the term "free markets" which understands that government regulations on business to a certain extent are necessary for a wealthy and fair economy. The US economy can be described as a free market economy.
What term best describes the US economy policy during the era of the rise of big businesses?
laissez-faire
Why did Jefferson disapprove of the Bank of the US?
He believed in a laissez-faire government (one that doesn't attempt to control the economy)
Is the economy of the US a free enterprise?
Generally speaking, Yes. However, the US government does monitor and regulate the economy to certain degree, so the state is not laissez-faire.
Did the protection of private property by the 5th Amendment of the Constitution demonstrates the federal government's total laissez-faire approach to the US economy?
It is False.
Why did laissez faire not work in the US and England?
because it didnt.
What economic idea did the us adopt from Adam smith?
Laissez-faire
What was the hands off policy of the US in the 1930's?
Laissez-faire
How did the US government oppose laissez-faire economics?
Starting in the late 1800s, the Progressives in Congress and the Presidency (starting with T. Roosevelt) began to pass large numbers of federal laws that monitored and regulated business activities. Additionally, they created a large number of executive agencies whose job it would be to implement all of these new federal laws. As soon as you had this kind of regulation, there was no more laissez-faire economics, since the entire underlying principle of laissez-faire economics is the lack of governmental interference in the economy.
Why did the US government shift away from laissez faire?
to reduce the abuse of big businesses g'day longwood students
What term best describe the US government's policies towards businesses in the late 19th century?
laissez-faire
What term BEST describes the US government's policies towards business in the late 19th century?
laissez-faire
