what are the disadvantages and advantages of laissez-faire?
advantage-government takes care of theeconomy
what ar the disadvantages?
We do not do your homework for you. After you have done some reading and writing, please repost and we will be happy to give you further suggestions. Check these sites.
http://www.google.com/search?hl=en&ie=ISO-8859-1&q=laissez-faire+advantages&btnG=Search
http://www.collegetermpapers.com/TermPapers/Government_&_Politics/Government_Intervention_and_Its_Disadvantages.shtml
the college term papers link is blocked
i couldn't find any usseful sites on google
is the disadvantage some people will be very rich and some people will be very poor with laissez-faire as opposed to more equality with the government controlling the economy?
There are some excellent sites on the advantages of Laissez Faire in the site I gave you. Here are further sites you can investigate
http://www.njouba.com/lassez-faire-web.html
Laissez-faire is an economic theory that promotes minimal government intervention in economic affairs. While there are potential advantages to this approach, it also comes with disadvantages. Let's explore them in more detail.
Advantages of laissez-faire:
1. Economic freedom: Laissez-faire allows for maximum individual economic freedom, as it minimizes government regulations and restrictions. This can lead to increased entrepreneurship, innovation, and competition.
2. Efficiency: With minimal government intervention, laissez-faire fosters market efficiency. Prices and resource allocation are determined by supply and demand forces, leading to optimal allocation of resources in theory.
3. Limited government interference: Laissez-faire promotes limited government intervention, which may be seen as favorable by those who value personal liberty and limited bureaucracy.
Disadvantages of laissez-faire:
1. Market failures: In a laissez-faire system, the market may fail to provide certain goods and services deemed essential for social well-being, such as healthcare, education, and infrastructure. This can lead to inequality and inadequate provision of public goods.
2. Monopolies and power imbalances: Without government regulation, laissez-faire can lead to the concentration of wealth and power in the hands of a few, potentially resulting in the formation of monopolies. These monopolies can exploit consumers, limit competition, and hinder innovation.
3. Externalities and social costs: Laissez-faire may neglect the consideration of external costs and benefits associated with economic activities, such as pollution, which can have adverse effects on society. In the absence of regulation, these negative externalities can go unaddressed.
To obtain a more comprehensive understanding of the advantages and disadvantages of laissez-faire, you can conduct further research, explore relevant literature, and consult different perspectives from economists and scholars. This will allow you to form a well-informed opinion on the topic.