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The French phrase laissez-faire gained currency in English-speaking countries with the spread of Physiocratic literature in the late 18th century. George Whatley 's 1774 Principles of Trade (co-authored with Benjamin Franklin ) re-told the Colbert-LeGendre anecdote; this may mark the first appearance of the phrase in an English-language ...
The freedom to contract is the underpinning of laissez-faire economics and is a cornerstone of free-market libertarianism. The proponents of the concept believe that through "freedom of contract", individuals possess a general freedom to choose with whom to contract, whether to contract or not, and on which terms to contract.
His saying "laissez-faire was planned" implies that laissez-faire is closely involved in managing the market economy. Since the market cannot produce invented fictitious commodities such as money, land, and labor at the right level of sustainable quantities, the government must involve in managing the supply and demand for the production ...
Laissez Faire and the General-Welfare State: A Study of Conflict in American Thought, 1865–1901 (1956), pp. 252–288; Muccigrosso, Robert, ed. Research Guide to American Historical Biography (1988) 3:1570–1574; Nelson, Alvin F. "Lester Ward's Conception of the Nature of Science," Journal of the History of Ideas (1972) 33#4 pp. 633–638 in ...
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.
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.
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Free to Choose: A Personal Statement maintains that the free market works best for all members of a society, provides examples of how the free market engenders prosperity, and maintains that it can solve problems where other approaches have failed. Published in January 1980, the 297 page book contains 10 chapters.