WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
AMERICAN INDUSTRY DEVELOPMENT IN THE GILDED AGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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it allowed businesses to mistreat workers
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it weakened the American economy
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it helped immigrants control factories
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it killed many Native Americans
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Detailed explanation-1: -As a result, laissez-faire economic ideals reject almost all forms of market regulation such as minimum wages, safety standards, working hours, environmental restrictions and taxes. This theory sees workplace regulation as an interference with the freedom of contract between a worker and a boss.
Detailed explanation-2: -Laissez-Faire, which is French for “allow to do, ” suggests letting businesses operate free from such government policies. It, thus, enables capitalists to work in the desired way. As a result, they increase working hours while paying workers less to earn more profits.
Detailed explanation-3: -At an organizational level, by being indecisive and uninvolved, laissez-faire leaders can lose the organization important opportunities. The damages can be especially costly when the market environment is unstable and changing fast. What is worse, laissez-faire leadership can result in poor crisis management.
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.