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July 31, 2014

Homework Help: Laissez-faire

Posted by Anonymous on Tuesday, April 19, 2011 at 8:45pm.

Please simplify this for me. Cant understand this at all.

Laissez-faire is synonymous with what was referred to as strict capitalist free market economy during the early and mid-19th century as an ideal to achieve. It is generally understood that the necessary components for the functioning of an idealized free market include the complete absence of government regulation, subsidies, artificial price pressures and government-granted monopolies (usually classified as coercive monopoly by free market advocates) and no taxes or tariffs other than what is necessary for the government to provide protection from coercion and theft and maintaining peace, and property rights.

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