What were the responses to laizzez faire capitalism?

Answer 1

Responses to laissez-faire capitalism included critiques from various economic and social thinkers who argued that unregulated markets often lead to inequality, exploitation, and economic instability. Socialists and labor movements emerged, advocating for workers' rights and greater government intervention to protect the vulnerable. Additionally, the rise of progressive reforms in the late 19th and early 20th centuries sought to address the excesses of capitalism through regulations, antitrust laws, and social welfare programs. These responses sought to balance economic freedom with social responsibility.