In the late 1800s, supporters of laissez-faire capitalism claimed that government regulation of business would be harmful to the economic process.
What does laissez-faire mean and how did it apply to the late 1800s?
Laissez-faire, (French: “allow to do”) policy of minimum governmental interference within the economic affairs of people and society.
The pervading theory of the 19th century was that individuals, pursuing their own desired ends, would thereby achieve the best results for the society of which they were part.
Thus, supporters of laissez-faire capitalism claimed that government regulation of business would be harmful to economic growth.
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