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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".
The exact origin of the word Bangla is unknown, though it is believed to come from "Vanga", an ancient kingdom mentioned in world's largest Epic Mahabharat even Ramayan and geopolitical division on the Ganges delta in the Indian subcontinent. It was located in southern Bengal, with the core region including present-day southern West Bengal ...
Wikipedia:Laissez-faire is not particularly objectionable, provided that there is the requirement for editors to be able to back their edits up with reason. In the absence of that requirement, aside from creating clutter, it seems to justify vandalism and trolling that, so long as vandals and trolls create new articles, there ought to be ...
[2] In Japan in particular, the term ri, which is the Confucian idea of "order and harmony on human society" also came to represent "the idea of laissez-faire and the rationality of market exchange." [ 2 ] By the 1880s, the slogan "Civilization and Enlightenment" became potent throughout Japan, China, and Korea and was employed to address ...
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.
The French Enlightenment philosopher Marquis de Condorcet did not oppose the existence of private property, but did believe that the primary cause of suffering in society was the lower classes' lack of land and capital and therefore supported policies similar to the modern social safety net that could be used to protect the most vulnerable. [25]
Freedom of contract is the principle according to which individuals and groups may form contracts without government restrictions.This is opposed to government regulations such as minimum-wage laws, competition laws, economic sanctions, restrictions on price fixing, or restrictions on contracting with undocumented workers.