THE ROAD TO REVOLUTION 1700 1774
THE AMERICAN ENLIGHTENMENT INTELLECTUAL AND SOCIAL REVOLUTION
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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natural law
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social contract
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natural right
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laissez faire
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Detailed explanation-1: -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.”
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: -As the subcontinent was struck by a number of severe famines, the colonial administration chose a response based on strict principles of laissez-faire. This meant a reliance on market forces, and a stance of government non-intervention, even as millions of Indians starved to death.