Laissez-Faire, a French term that translates loosely as "let things alone," originated in the eighteenth century with a school of French economists, known as the Physiocrats, who opposed trade restrictions that supported older economic systems such as mercantilism. The theory holds that individuals act out of self-interest and that self-interested action will benefit the larger community's general well-being. Proponents of laissez-faire reject state intervention through measures such as protective social legislation and trade restrictions, viewing them as socially injurious. The doctrine of laissez-faire involves not only a negative social policy of nonintervention but also a positive philosophy that recognizes a harmony between individual and social interests.
The United States has never adhered unconditionally to this doctrine, either theoretically or practically. Tariffs, components of American trade policy almost since the country's independence, contravene the principle of individualism expressed in the doctrine of laissez-faire.
limiting regulations on the steel industry-novanet
no government regulation
Steel industry
limited government.
It was the industrial revolation
limiting regulations on the steel industry-novanet
The fish industry. Climate. The farming industry.
no government regulation
Entrepreneurs
There have been several agricultural revolutions. The introduction of machinery certainly impacted industry.
The first light bulb has impacted us a lot. It has allowed us to see when it is dark.
Foremost among these is the rise of PET plastic bottles in the soft drink industry.
transportation
transportation
transportation
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Groups advocated safer working conditions for factory workers.