which course of action does the theory of laissez-faire suggest a government should follow?

by Richard Davis 3 min read

Laissez-faire economics is a theory that says the government should not intervene in the economy except to protect individuals' inalienable rights. In other words, let the market do its own thing. If left alone, the laws of supply and demand will efficiently direct the production of goods and services.

Full Answer

What is a laissez-faire approach to government?

Laissez-faire is a policy of minimum governmental interference in the economic affairs of individuals and society. The doctrine of laissez-faire is usually associated with the economists known as Physiocrats, who flourished in France from about 1756 to 1778. The term laissez-faire means, in French, “allow to do.”

Which of the following would best describe a policy of laissez-faire?

Which of the following BEST describes a laissez-faire economic policy? The government should leave business alone.

Why did the government use laissez-faire?

From the French for “let them do [what they will],” proponents of laissez-faire policies, known as liberals, believed that the free market would naturally produce the best and most efficient solutions to economic and social problems.

Which of the following actions would be taken by a government that supports laissez-faire capitalism?

Which of the following actions would be taken by a government that supports laissez-faire capitalism? A national legislature approves plans for a government-controlled power plant that will provide cheap electricity for its poorest regions.

Which of the following best describes the concept of laissez-faire quizlet?

Which of the following best describes the concept of laissez-faire? Government should not intervene in the economy.

What is the laissez-faire policy quizlet?

The term laissez faire refers to the economic policy of letting owners of industry and business set working conditions without interference . This policy favors a free market unregulated by government.

Who took a laissez-faire approach to government?

The 18th-century Scottish economist Adam Smith strongly influenced the development of ideas about laissez-faire and, indirectly, the growth of capitalism in America.

What is the role of the government in laissez-faire capitalism?

In laissez-faire policy, the government's role is to protect the rights of the individual, rather than regulating business in any way. The term 'laissez-faire' translates to 'leave alone' when it comes to economic intervention. This means no taxes, regulations, or tariffs.

How did laissez-faire government policies encourage growth?

Laissez-faire government policies helped the growth of American businesses by not putting regulations on them that would hamper their productivity and...

When the government has laissez-faire economic policies What are they doing about business?

A laissez-faire economy gives businesses more space and autonomy from government rules and regulations that would make business activities harder and more difficult to proceed. Such an environment makes it more viable for companies to take risks and invest in the economy.

Which of the following is an example of a government's laissez-faire approach to business and the economy?

Which of the following is an example of a government's laissez-faire approach to business and the economy? Congress votes down a law providing a loan to a failing car manufacturer.

What did supporters of laissez-faire claim?

Supporters of laissez-faire believe the government should not interfere in the economy other than to protect private property rights and maintain peace. These supporters argue that if the government regulates the economy, it increases costs and eventually hurts society more than it helps.

What was the primary goal of the European Crusaders fighting in the Middle East?

A primary goal of European Crusaders fighting in the Middle East was to. (1) establish markets for Italian merchants. (2) rescue Pope Urban II from the Byzantines. (3) halt the advance of Mongol armies in the Asian steppes.

Why were Nanjing, Venice, and Mogadishu so powerful and influential in the 13th century?

Nanjing, Venice, and Mogadishu were powerful and influential cities in the 13th century because they all. (1) developed agrarian-based economies. (2) served as religious pilgrimage sites. (3) established democratic governments. (4) took advantage of the factors of location. 1. 13.

What were the effects of the landlord system in Ireland in the mid-1800s and in India in the early 1900s

(1) contributed to famine and suffering. (2) allowed local economics to prosper. (3) emphasized food crops over mining.

How did the Tang Dynasty contribute to the development of Chinese culture?

The Tang dynasty contributed to the development of Chinese culture by. (1) creating a shogunate. (2) producing porcelain and block printing. (3) introducing Hinduism as a major philosophy. (4) devising a set of laws and carving them on rocks and pillars.

Why did the West African empires of Ghana, Mali, and Songhai thrive?

The West African empires of Ghana, Mali, and Songhai were able to thrive because. (1) they controlled the gold-salt trade. (2) their herds of cattle were in demand. (3) their armies took control of much of Africa.