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Carlyle strongly criticised the mechanisation of the human spirit and indicated the high moral costs of industrial change. In this sermon-like essay, Carlyle led a crusade against scientific materialism, Utilitarianism and the laissez-faire system. He believed that the freedom of the emerging mechanical society in England was a delusion because ...
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 ).
This is an accepted version of this page This is the latest accepted revision, reviewed on 13 February 2025. Scottish economist and philosopher (1723–1790) This article is about the Scottish economist and philosopher. For other people named Adam Smith, see Adam Smith (disambiguation). Adam Smith FRS FRSE FRSA Posthumous Muir portrait, c. 1800 Born c. 16 June [O.S. c. 5 June] 1723 Kirkcaldy ...
Laissez-faire, or free market capitalism, is an ideology that prescribes minimal public enterprise and government regulation in a capitalist economy. [51] This ideology advocates for a type of capitalism based on open competition to determine the price , production and consumption of goods through the invisible hand of supply and demand ...
The other was the political doctrine of laissez-faire economics, namely that all coercive government regulation of the market represents unjustified interference, and that economies would perform best with government only playing a defensive role in order to ensure the operation of free markets.
Physiocracy is an agrarianist philosophy which developed in the context of the predominantly rural, pre-industrial European society of the time. In the late Roman Republic , the dominant senatorial class was not allowed to engage in banking or commerce [ 7 ] but relied on their latifundia , large plantations, for income.
Daniel Friedrich List (6 August 1789 – 30 November 1846) was a German entrepreneur, diplomat, economist and political theorist who developed the nationalist theory of political economy in both Europe and the United States.
Toynbee is widely accepted as the historian who ushered the expression "the industrial revolution" into the English language. Although French and German commentators had used this term in the early nineteenth century, English use had been rare and inconsistent until the posthumous publication of Toynbee's Lectures on the Industrial Revolution ...