explain the difference between laissez-faire and pragmatism.
Laissez-faire refers to a hands-off approach to governing or managing, where minimal interference or regulation is imposed on individuals or businesses. It is based on the belief that the economy functions best when left alone to operate according to natural market forces, without government intervention.
On the other hand, pragmatism is a philosophical approach that emphasizes practical consequences and real-world experience in determining the validity of ideas and beliefs. Pragmatists focus on what works in practice rather than being bound by theoretical or ideological principles.
In summary, laissez-faire is a specific approach to economics and governance that advocates for minimal intervention, while pragmatism is a broader philosophical stance that prioritizes practicality and experience in decision-making.