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President Martin Van Buren's belief in laissez-faire principles prolonged the economic downturn known as the Panic of 1837. His reluctance to intervene in the economy or provide federal assistance to struggling banks and businesses allowed the financial crisis to deepen. This hands-off approach contributed to widespread unemployment and hardship, as he believed that the market would eventually correct itself without government interference. Ultimately, his policies reflected a commitment to limited government intervention, which many criticized during the economic crisis.

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