USA HISTORY

Detailed explanation-1: -Laissez-Faire is the theory of no government intervention in trade. In the late 1800s there were a lot of wealthy big businesses, mainly corporations, that were causing the ruin of smaller ones. People who opposed big business called for government regulation of it.

Detailed explanation-2: -Laissez-faire was a political as well as an economic doctrine. The pervading theory of the 19th century was that individuals, pursuing their own desired ends, would thereby achieve the best results for the society of which they were part.

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. Laissez-faire advocates that economic success is inhibited when governments are involved in business and markets.

Detailed explanation-4: -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-5: -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.