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President Martin Van Buren's belief in laissez-faire economics contributed to the prolongation of the Panic of 1837. His reluctance to involve the federal government in economic recovery efforts, adhering to a hands-off approach, meant that the economic downturn persisted longer than it might have if more interventionist policies had been implemented. This philosophy delayed relief for struggling banks and businesses, exacerbating the financial crisis and its impact on the American population.

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2w ago

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