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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).
James Stuart (1767) authored the first book in English with 'political economy' in its title, explaining it just as: . Economy in general [is] the art of providing for all the wants of a family, so the science of political economy seeks to secure a certain fund of subsistence for all the inhabitants, to obviate every circumstance which may render it precarious; to provide everything necessary ...
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 ...
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 ...
Some sections of the French business and political world lost authority after collaborating with the German occupiers. Post-war French governments, from whichever political side, generally sought rational, efficient economic development, with the long-term goal of matching the highly developed and technologically advanced economy of the United ...
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 ...
French uses the capital É, because the use of a capital letter alters the meaning of the word (État: a State, as in a country; état: a state of being). It also cannot be shortened as coup as is often the case in English- because this literally means a "hit" in French, but can be used figuratively to mean many more things.
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]