Search results
Results from the WOW.Com Content Network
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 ).
1904 depiction of an acquisitive and manipulative Standard Oil (founded by John D. Rockefeller) as an all-powerful octopus. Robber baron is a term first applied as social criticism by 19th century muckrakers and others to certain wealthy, powerful, and unethical 19th-century American businessmen.
[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 ...
[60] [incomplete short citation] The strongest defender of laissez-faire was The Economist founded by James Wilson in 1843. The Economist criticised Ricardo for his lack of support for free trade and expressed hostility to welfare, believing that the lower orders were responsible for their economic circumstances.
[24] [25] The chief spokesman amongst laissez-faire advocates was William Leggett of the Locofocos in New York City. [26] [27] Opposition to banking – In particular, the Jacksonians opposed government-granted monopolies to banks, especially the national bank, a central bank known as the Second Bank of the United States. Jackson said: "The ...
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. To the vast majority of American classical liberals, however, laissez-faire did not mean no ...
In 1883, Lester Frank Ward (1841–1913) published Dynamic Sociology: Or Applied Social Science, as Based Upon Statical Sociology and the Less Complex Sciences and laid out the basic tenets of modern American liberalism while at the same time attacking the laissez-faire policies advocated by Herbert Spencer and William Graham Sumner. [96]
The Libertarian Party (LP) is a libertarian political party in the United States that promotes civil liberties, non-interventionism, laissez-faire capitalism, and limiting the size and scope of government.