posted by Anonymous on .
I found the passage I posted about Laissez Faire on Wikipedia.
I found another passage, could you please simplify this for me?
Describes an environment in which transactions between private parties are free from state intervention, including restrictive regulations, taxes, tariffs and enforced monopolies.
There are two ways that a government typically is tempted to interfere with the economy. The first is through the initiation of force, and the second is through socialized industries. Neither of these activities are aligned with the proper role of government, and are both unacceptable.
(What is initiation of force? What are socialized industries?)
"Laissez Faire Capitalism" is actually redundant, due to the nature of Capitalism. Therefore, simply "Capitalism" is sufficient to get the point across although historically it has been misrepresented as compatible with government economic interference.
(I don't understand the whole passage above.)
You will find multiple explanations among the following sites: