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: -neoliberalism, ideology and policy model that emphasizes the value of free market competition. Although there is considerable debate as to the defining features of neoliberal thought and practice, it is most commonly associated with laissez-faire economics.

Detailed explanation-3: -The policy of laissez-faire received strong support in classical economics as it developed in Great Britain under the influence of the philosopher and economist Adam Smith.

Detailed explanation-4: -Which of the following BEST describes a laissez-faire economic policy? The government should leave business alone.

Detailed explanation-5: -Laissez-faire is the belief that economies and businesses function best when there is no interference by the government.