Smothsonian free market
Free trade
Laissez-faire
He was a strong supporter of laissez faire economics
FDR
Laissez-faire economics helped the country industrialize. Supporters of Laissez-faire believe that government should not interfere in the economy other than protect property rights and maintain peace.
Free trade
Laissez-faire
He was a strong supporter of laissez faire economics
Government should refrain from intervening in the economy, leaving all major decisions to the individual business leaders.
Pioneer can be used as both a noun and a verb, as in "Adam Smith was the first pioneer of Laissez-Faire Economics" or "Adam Smith pioneered the idea of Laissez-Faire economics."
FDR
Laissez-faire economics helped the country industrialize. Supporters of Laissez-faire believe that government should not interfere in the economy other than protect property rights and maintain peace.
Adam Smith
No.
Laissez-faire economics IS an economic system. However, it is a subset of wider capitalism.
A laissez-faire leader is a leader who advocates free market economics with as little government intervention as possible.
Adam Smith.