WORLD HISTORY

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: -Description: The phrase invisible hand was introduced by Adam Smith in his book ‘The Wealth of Nations’. He assumed that an economy can work well in a free market scenario where everyone will work for his/her own interest.

Detailed explanation-3: -Pillars of capitalism In free markets, also called laissez-faire economies, markets operate with little or no regulation.