Encyclopedia > Laissez-faire capitalism

  Article Content

Laissez-faire capitalism

Laissez-faire capitalism is, roughly stated, the doctrine that the free market functions to the greatest good when left unfettered and unregulated by government.

Historically the term 'Laissez-faire' was first used in the 1700s by French physiocrats in opposition to mercantilism. Later it was popularized by being taken out of context from the works of Adam Smith and John Stuart Mill.

See also: libertarianism, capitalism.



All Wikipedia text is available under the terms of the GNU Free Documentation License

 
  Search Encyclopedia

Search over one million articles, find something about almost anything!
 
 
  
  Featured Article
Indian reservation

... Yuma Indian Reservation[?] Cocopah Indian Reservation[?] San Xavier Indian Reservation[?] Tohono O'Odham Nation[?] Brighton Indian Reservation[?] Big Cypress Indian ...

 
 
 
This page was created in 38.7 ms