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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 ).
The Lochner era was a period in American legal history from 1897 to 1937 in which the Supreme Court of the United States is said to have made it a common practice "to strike down economic regulations adopted by a State based on the Court's own notions of the most appropriate means for the State to implement its considered policies". [1]
Sumner's popular essays gave him a wide audience for his laissez-faire advocacy of free markets, anti-imperialism, and the gold standard. Sumner had a long-term influence over modern American conservatism as a leading intellectual of the Gilded Age. [34] Thousands of Yale students took his courses, and many remarked on his influence.
In United States history, the Gilded Age is the period from about the late 1870s to the late 1890s, which occurred between the Reconstruction era and the Progressive Era. It was named by 1920s historians after Mark Twain 's 1873 novel The Gilded Age: A Tale of Today .
In the Gilded Age (late 19th century), the parties were reluctant to involve the federal government too heavily in the private sector, except in the area of railroads and tariffs. In general, they accepted the concept of laissez-faire , a doctrine opposing government interference in the economy except to maintain law and order.
HBO’s new series “The Gilded Age” takes a deep dive into the era of 1882 New York City at a time of heightened prosperity, industrial growth and an internal clash amid society as “new ...
In the United States, classical liberalism, also called laissez-faire liberalism, [92] is the belief that a free-market economy is the most productive and government interference favors a few and hurts the many [original research?] —or as Henry David Thoreau stated, "that government is best which governs least". Classical liberalism is a ...
The Second Gilded Age is a proposed time period of United States history that is debated to have begun between the 1980s and 2010s up to the current day. The Second Gilded Age is so named for its resemblance to the Gilded Age of the 1870s to 1890s, a period marked by laissez-faire capitalism and political corruption. Different authors disagree ...