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.

Detailed explanation-2: -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.

Detailed explanation-3: -Pillars of capitalism In free markets, also called laissez-faire economies, markets operate with little or no regulation.

Detailed explanation-4: -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.

Detailed explanation-5: -Often, laissez-faire capitalism is also referred to as free market capitalism or market capitalism. Simply put, laissez-faire translates to “leave us alone” meaning that the government should remain out of the economy and instead allow individuals to freely carry out their own economic affairs.