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Laissez-faire (/ ˌ l ɛ s eɪ ˈ f ɛər / LESS-ay-FAIR; or / l ɑː ˌ s ɛ z ˈ f ɛ. j ə r /, 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 ).
[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.
The Battle of Jutland in May 1916 was the first and only time the German fleet challenged control of the North Sea, but it was overmatched and was reassigned mostly to helping the more important U-boats. Since the Liberals ran the war without consulting the Unionists (Conservatives) there were heavy partisan attacks.
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.
Women across the spectrum were much less supportive of the war [clarification needed] than men. [2] [3] Women in church groups [clarification needed] were especially anti-war.. However, women in the suffrage movement in different countries wanted to support the war effort, asking for the vote as a reward for that sup
As an economic doctrine, dirigisme is the opposite of laissez-faire, stressing a positive role for state intervention in curbing productive inefficiencies and market failures. Dirigiste policies often include indicative planning , state-directed investment, and the use of market instruments (taxes and subsidies) to incentivize market entities ...
David Lloyd George, 1st Earl Lloyd-George of Dwyfor [a] (17 January 1863 – 26 March 1945) was Prime Minister of the United Kingdom from 1916 to 1922. A Liberal Party politician from Wales, he was known for leading the United Kingdom during the First World War, for social-reform policies, for his role in the Paris Peace Conference, and for negotiating the establishment of the Irish Free State.
The multiparty coalition government undertook a low-key laissez-faire program—the tax system was restructured (February 1925 law, 23 June 1927 decree-law and so on), there were attempts to attract foreign investment and establish trade agreements and efforts were made to balance the budget and cut subsidies. [26]