HISTORY
THE INDUSTRIAL REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Government keeping their hands off of the economy, is another way of saying what type of policy?
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Capitalist
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Socialist
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Laissez-Faire
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Strict
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Explanation:
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: -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.
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