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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 ).
The dependence of laissez-faire on global hegemony is a complicated problem because this is the field where political leaders need negotiation to keep their political power for two main purposes. They need to maintain both the protection of the position of the nation within the international state system and the effective function of the ...
Compared to Rand's earlier books, Capitalism: The Unknown Ideal received relatively few reviews. The Freeman, which had previously published some of Rand's essays that were used in the book, says the book addresses "myths" and "bromides" used against capitalism using "unique arguments" that deserve to be read. [7]
In 1996, Laissez Faire Books issued a 50th anniversary edition with an introduction by publisher and presidential candidate Steve Forbes. [4] [5] The book has been translated into many other languages, such as Spanish, German, Russian, Chinese, Korean and Greek. [6]
Human Action: A Treatise on Economics is a work by the Austrian economist and philosopher Ludwig von Mises.Widely considered Mises' magnum opus, [1] it presents the case for laissez-faire capitalism based on praxeology, his method to understand the structure of human decision-making.
William Graham Sumner (October 30, 1840 – April 12, 1910) was an American clergyman, social scientist, and neoclassical liberal.He taught social sciences at Yale University, where he held the nation's first professorship in sociology and became one of the most influential teachers at any major school.
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Physiocracy (French: physiocratie; from the Greek for "government of nature") is an economic theory developed by a group of 18th-century Age of Enlightenment French economists who believed that the wealth of nations derived solely from the value of "land agriculture" or "land development" and that agricultural products should be highly priced. [1]