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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).
Land lost about one third of its value between 1879 and 1913, not just because of the agricultural crisis also declining population densities in the countryside. [126] Production stagnated, with the mean annual growth in agricultural production at 0.26% between 1865 and 1900. Mean annual production fell by 0.8% in the years 1874-8 and 1889–93 ...
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
Jean-Jacques Rousseau (UK: / ˈ r uː s oʊ /, US: / r uː ˈ s oʊ /; [1] [2] French: [ʒɑ̃ʒak ʁuso]; 28 June 1712 – 2 July 1778) was a Genevan philosopher (), writer, and composer.. His political philosophy influenced the progress of the Age of Enlightenment throughout Europe, as well as aspects of the French Revolution and the development of modern political, economic, and educational ...
Imagine there's a game where one person is placed in a room and assigned the role of the "sender." A second person in a different room is assigned the role of "receiver." The sender is given $20 ...
The pro-Bourbon perpetrators were often known as the Verdets because of their green cockets, which was the colour of the Count of Artois – this being the title of the future Charles X at the time, who was associated with the hardline ultra-royalists, or Ultras. After a period in which local authorities did not stop the violence, the King and ...
Pierre-Joseph Proudhon (UK: / ˈ p r uː d ɒ̃ /, [1] US: / p r uː ˈ d ɒ̃, p r uː ˈ d oʊ n /; French: [pjɛʁ ʒozɛf pʁudɔ̃]; 15 January 1809 – 19 January 1865) was a French anarchist, socialist, philosopher, and economist who founded mutualist philosophy and is considered by many to be the "father of anarchism". [2]
Claude-Frédéric Bastiat (/ b ɑː s t i ˈ ɑː /; French: [klod fʁedeʁik bastja]; 30 June 1801 – 24 December 1850) was a French economist, writer and a prominent member of the French liberal school. [1] A member of the French National Assembly, Bastiat developed the economic concept of opportunity cost and introduced the parable of the ...