posted by .

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.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. social studies

    the theory that government should not intefere in economic affairs is known as?
  2. History

    "Although the economic growth of the United States between 1860 and 1900 has been attributed to a governmental policy of laissez-faire, it was in fact encouraged and sustained by direct government intervention." Assess the validity …
  3. Socials

    What is the economic policy called "laissez-faire" all about?
  4. Laissez Faire

    I found the passage I posted about Laissez Faire on Wikipedia.
  5. Laissez-Faire(please no sites)

    Could you please simplify these for me. I already looked up a bunch of sites, and they all have hard vocab in them which I just cant understand. Describes an environment in which transactions between private parties are free from state …
  6. Economics

    How does a laissez faire economy make the decision about what goods and services will be produced?
  7. government

    This one i am stuck between A and B i need help. Which correctly lists the three factors of production in a capitalist economy?
  8. economics

    In what kind of an economy does the government make all the decisions?
  9. Economics PLEASE HELP!!

    Another term for capitalist system is ..?
  10. Economics

    Which statement best describes the role of government in a mixed economy?

More Similar Questions