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: -Laissez-faire examples Based on laissez-faire policy, it allowed private businesses to make as much money as possible without intervention in the idea that this wealth would trickle down to individuals. Tax cuts: When governments cut taxes to stimulate the market, this is based on laissez-faire theory as well.

Detailed explanation-3: -Pure capitalism means that the less government involvement in the economy, the better off are its citizens and businesses, as well as the entire economy. Laissez-faire roughly translates from French to mean “let do” or “leave alone.” In other words, there are no government controls, regulations, checks, and balances.

Detailed explanation-4: -In a Laissez-Faire economy(free economy) the government does not interfere in the market mechanism of an economy and allows the free play of demand and supply forces .