WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
IMMIGRATION IN INDUSTRIAL AMERICA
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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government ownership of businesses.
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minimum-wage laws.
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wage and price controls.
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laissez-faire capitalism.
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Detailed explanation-1: -The driving principle behind laissez-faire, a French term that translates to “leave alone” (literally, “let you do"), is that the less the government is involved in the economy, the better off business will be, and by extension, society as a whole. Laissez-faire economics is a key part of free-market capitalism.
Detailed explanation-2: -The doctrine of laissez-faire is usually associated with the economists known as Physiocrats, who flourished in France from about 1756 to 1778.
Detailed explanation-3: -In free markets, also called laissez-faire economies, markets operate with little or no regulation.
Detailed explanation-4: -The phrase laissez faire comes from the French phrase laissez faire et laissez passer, “Let be and let pass.” This phrase became popular in 18th Century France, where economists suggested the government stay out of business and industry.