THE VIRGINIA DYNASTY 1801 1825
AMERICAN INDUSTRIALIZATION FACTORY SYSTEM AND MARKET REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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US government leaving businesses alone and unregulated
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Mercantile policies only allowing trade between the US and England
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People distrusting foreign goods
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US government regulating businesses to eliminate competition
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Detailed explanation-1: -The regulatory role of the government involves formulating and implementing various direct and indirect measures to monitor and regulate the economic activities of the private sector.
Detailed explanation-2: -In the American Gilded Age (1865-1910), laissez-faire was the dominant economic doctrine of the U.S. government. In layman’s terms, laissez-faire means “allowing you to do as you wish, ” which means the government plays a minimal role in the economy.
Detailed explanation-3: -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-4: -What is an example of laissez-faire policy? An example of laissez-faire economics is where nations remove all trade barriers. For example, most nations levy a tax on imported goods, usually at varying rates depending on the product. Laissez-faire economics removes such barriers and instead allows the market to decide.