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Proponents of laissez-faire argue for a near complete separation of government from the economic sector. [5] [verification needed] The phrase laissez-faire is part of a larger French phrase and literally translates to "let [it/them] do", but in this context the phrase usually means to "let it be" and in expression "laid back". [6]
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 ...
[A]t the center of classical liberal theory [in Europe] was the idea of laissez-faire. To the vast majority of American classical liberals, however, laissez-faire did not mean no government intervention at all. On the contrary, they were more than willing to see government provide tariffs, railroad subsidies, and internal improvements, all of ...
1904 depiction of an acquisitive and manipulative Standard Oil (founded by John D. Rockefeller) as an all-powerful octopus. Robber baron is a term first applied as social criticism by 19th century muckrakers and others to certain wealthy, powerful, and unethical 19th-century American businessmen.
In the United States, Third Way adherents embrace fiscal conservatism to a greater extent than traditional social liberals and advocate some replacement of welfare with workfare and sometimes have a stronger preference for market solutions to traditional problems (as in pollution markets) while rejecting pure laissez-faire economics and other ...
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[60] [incomplete short citation] The strongest defender of laissez-faire was The Economist founded by James Wilson in 1843. The Economist criticised Ricardo for his lack of support for free trade and expressed hostility to welfare, believing that the lower orders were responsible for their economic circumstances.
The Libertarian Party (LP) is a libertarian political party in the United States that promotes civil liberties, non-interventionism, laissez-faire capitalism, and limiting the size and scope of government.