AGES ERA PERIOD
RESTORATION AND 18TH CENTURY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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economic independence
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the Rights of Man
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laissez-faire
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enclosure
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Detailed explanation-1: -As stated in the previous paragraph, the dominant ideology of the Industrial Revolution centered on individualistic values such as classical liberalism and laissez-faire capitalism. As such, there were very few government regulations in place to protect workers.
Detailed explanation-2: -Laissez-faire is an economic philosophy of free-market capitalism that opposes government intervention. The theory of laissez-faire was developed by the French Physiocrats during the 18th century. Laissez-faire advocates that economic success is inhibited when governments are involved in business and markets.
Detailed explanation-3: -Laissez-faire is a French phrase that translates to “allow to do.” It refers to a political ideology that rejects the practice of government intervention in an economy. Further, the state is seen as an obstacle to economic growth and development. The term originated in the 18th century during the Industrial Revolution.
Detailed explanation-4: -Laissez-faire economics promoted industrialization by not allowing the government to interfere or to interfere as little as possible with the economic practice of the country. It managed to keep taxes low while encouraging private investment.