USA HISTORY

Detailed explanation-1: -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-2: -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.

Detailed explanation-3: -Laissez-faire government policies helped the growth of American businesses by not putting regulations on them that would hamper their productivity and profitability.

Detailed explanation-4: -A free enterprise system follows the laissez-faire concept of economics, the idea that people don’t need the government to regulate or correct the market. People are free to conduct business as they see fit based on the needs they see around them.