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.
laissez-faire
Generally, business owners were in favor of laissez-faire systems because the business owners would be free of any and all regulations.
There is little government regulation of business.
the business owners
A laissez-faire economic policy involves a minimum of government interference in business.
A + students to correct the few abuses that may occur to collect taxes The whole point of laissez-faire Economics is that the government does not have any stake in regulating business at all.
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.
laissez-faire
to limit the governments control over production
Generally, business owners were in favor of laissez-faire systems because the business owners would be free of any and all regulations.
There is little government regulation of business.
the business owners
Laissez-faire
A laissez-faire economic policy involves a minimum of government interference in business.
A laissez-faire economic policy involves a minimum of government interference in business.
Laissez-faire