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Laissez-faire (/ ˌ l ɛ s eɪ ˈ f ɛər / LESS-ay-FAIR, from French: laissez faire [lɛse fɛːʁ] ⓘ, lit. ' let do ' ) is a type of economic system in which transactions between private groups of people are free from any form of economic interventionism (such as subsidies or regulations ).
Some historians of economics believe that he coined the phrase laissez faire, laissez passer. [1] Evidence was to be found when the French State parted the East India Company privilege (monopoly) on the slave trade. He is also credited with coining the term "bureaucracy".
Gladstonian liberalism is a political doctrine named after the British Victorian Prime Minister and Liberal Party leader William Ewart Gladstone.Gladstonian liberalism consisted of limited government expenditure and low taxation whilst making sure government had balanced budgets and the classical liberal stress on self-help and freedom of choice.
[A]t the center of classical liberal theory [in Europe] was the idea of laissez-faire. To the vast majority of American classical liberals, however, laissez-faire did not mean no government intervention at all. On the contrary, they were more than willing to see government provide tariffs, railroad subsidies, and internal improvements, all of ...
Historian Kathleen G. Donohue argues that classical liberalism in the United States during the 19th century had distinctive characteristics as opposed to Britain: "[A]t the center of classical liberal theory [in Europe] was the idea of laissez-faire.
Laissez-faire economists [who?] argue that government intervention is the cause of economic crises, and that left to its devices, the market will adjust efficiently. As for the implication that dislocations cannot cause persistent unemployment, some theories of economic cycles accept Say's law and seek to explain high unemployment in other ways ...
The Philadelphia Eagles and Lincoln Financial Field have issued a lifetime ban for a male fan whose foul outburst at their playoff game against the Green Bay Packers was caught on video, PEOPLE ...
Although laissez-faire has been commonly associated with capitalism, there is a similar economic theory associated with socialism called left-wing or socialist laissez-faire, also known as free-market anarchism, free-market anti-capitalism and free-market socialism to distinguish it from laissez-faire capitalism.