HISTORY
ABSOLUTISM AND REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Laissez Four
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Laissez Firm
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Laissez Faire
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None of the above
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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: -It’s a French term that translates to “allow to act, ‘’ “let (them) act, ‘’ or “let (people) do (as they choose).” Allowing people (and businesses) to act in the way that they believe best suits their interests is the basis of any system considered to be an example of laissez faire.
Detailed explanation-3: -The phrase is traditionally attributed to French businessman M. Le Gendre from when he responded to a Mercantilist minister, Jean-Baptiste Colbert. The laissez-faire theory mainly advocates government non-intervention.