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There are times when the government should let the market work, because fair competition leads to competitiveness and productivity. There are other times when the government should intervene, as in the case of monopolies using unfaircompetition to cheat the rest of society.
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∙ 12y ago
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What is the principle of Laissez Faire?
the principle of opposing government interference in economic affairs
A person who favors government intervention in both social and economic affairs?
liberal
Which best describes Eisenhower's approach to the role of government in economic affairs?
interventionist.
The theory that government should not interfere in economic affairs is known as a?
Capitalism or Libertarian ( they are not the same thing)
Can you give me any comments about laissez faire?
1. the theory or system of government that upholds the autonomous character of the economic order, believing that government should intervene as little as possible in the direction of economic affairs. 2. the practice or doctrine of noninterference in the affairs of others, esp. with reference to individual conduct or freedom of action.
Economic policy in which government does not become involved in business affairs?
capitalism
What did laissezfaire supporters believe about the role of government in economic affairs?
Entrepreneurs
Do libertarians oppose government intervention in both economic affairs and in the private lives of citizens?
they opposed government intervention only in the economic sector
What is the principle of Laissez Faire?
the principle of opposing government interference in economic affairs
What did laissez- fairs supporters believe about the role of government in economic affairs?
Entrepreneurs
What laissez faire supports believe about the role of government in economic affairs?
Entrepreneurs
A person who favors government intervention in both social and economic affairs?
liberal
Which best describes Eisenhower's approach to the role of government in economic affairs?
interventionist.
What is an economic policy in which a government does not become involved in business affairs?
laissez faire capitalism
What is politics and what is economics?
Politics deals with how to govern or control, to manage public affairs. Economics discusses economic policy. It takes a government to govern and to control, but it is the government to execute its economic policy.
When was Institute of Economic Affairs created?
Institute of Economic Affairs was created in 1955.
Idea that government should play as small a role as possible ing economic affairs?
Laissez Faire
