THE VIRGINIA DYNASTY 1801 1825
THOMAS JEFFERSONS PRESIDENCY LOUISIANA PURCHASE LEWIS CLARK AND MORE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Small, hands-off government.
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Big government is involved in our lives.
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The people do what they want.
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None of the above
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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 means “leave it alone.” Usually it describes the economic policy of a government that stresses non-interference in business.
Detailed explanation-3: -Tax cuts: When governments cut taxes to stimulate the market, this is based on laissez-faire theory as well. The idea is that removing regulations or taxes helps put more money into the market by encouraging spending.
Detailed explanation-4: -Laissez-faire is the belief that economies and businesses function best when there is no interference by the government. It comes from the French, meaning to leave alone or to allow to do.