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Who had the idea that state should not interfere with the economy?
Wiki User
∙ 11y ago
The idea that the State should intervene in the economy as little as possible is generally known as a free market economy.
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In some economies the government takes steps to control the economy and decide who will benefit from it. In some cases a small class or perhaps an ethnic group will control the economy via their majority hold on the government. In other cases the government will skim a percentage off the economy for their personal use. In other cases they will artificially control the foreign exchange rate of their currency to keep their economy's exports strong. (China)
In a free market anyone with a good idea, service or product can be successful based on their own efforts. Although even in a "free" economy without some government oversight and control there will be abuses by those who will seek to keep their competition out of the market by many means. So an entirely "free" market probably won't work well either.
Wiki User
∙ 11y ago
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What is the best description of Laissez-Faire in economics?
Laissez-faire is the idea that the economy should continue without interference from the government. The economy would be self correcting.
What did Adam Smith idea of free market economy proposes?
businesses should be able to run without government interferance
When the government has laissez-afire economic policies what are they doing about business?
Leaving it alone
What are the basis of the Chinese economy?
i have no idea. this is a stupid question
What idea is most closely associated with laissez -faire?
Government should refrain from intervening in the economy, leaving all major decisions to the individual business leaders.
The idea that government should not interfere in the lives of people was known as .?
Laissez faire
What is The idea that government should not interfere in the lives of people was known as .?
laissez-faire
The idea that businesses should be privately owned and have the possibility of profit is a feature of a?
market economy, liberalism
What is the best description of Laissez-Faire in economics?
Laissez-faire is the idea that the economy should continue without interference from the government. The economy would be self correcting.
Is sign language for babies a good idea?
I think that sign language taught to babies would just interfere with there speech learning. I don't think its a good idea. You should just stick with teaching them speech.
What idea that people within a state can and should determine the laws within that state is referred to as?
The idea that people within a state can and should determine the laws within that state is referred to as state sovereignty. This is different from popular sovereignty which allows people to determine rule over themselves.
The idea that people within a state can and should determine the laws within that state is referred to as?
The idea that people within a state can and should determine the laws within that state is referred to as popular sovereignty. Popular sovereignty is the principle that the people in a state can determine the laws within that state.
Who was forced out of Massachusetts and started Rhode Island?
Roger Williams was banished from Massachusetts Bay Colony in 1636 because he stood for the idea that government should not interfere with religion.
What is the main idea of a space telescope?
In outer space, Earth's atmosphere will not interfere.
How do Locke's ideas reflect a positive idea of human nature?
He wrote his works based on ideologies on what he believes the economy should be
What did Adam Smith idea of free market economy proposes?
businesses should be able to run without government interferance
What is the employment outlook for nurses in Texas?
Healthcare is one of the few fields that has growth in our economy. A career as a nurse in any state is good idea.
