Copy of Laissez Faire
Published on Nov 20, 2015
No Description
MORE DECKS TO EXPLORE
PRESENTATION OUTLINE
LAISSEZ FAIRE
BY ROGELIO WRIGHT
DEFINITION:
- a policy or attitude of letting things take their own course, without interfering.
Laissez faire is French which literally means "let it be"
This phrase was popularized
By physiocrat, Vincent de Gournay in the 1750s
FUNDAMENTALS
- 1. The individual is the basic unit in society.
- 2. The individual has a natural right to freedom.
- 3. The physical order of nature is a harmonious and self-regulating system
- 4. Corporations are creatures of the State and therefore must be watched closely by the citizenry due to their propensity to disrupt the Smithian spontaneous order.
In economics the meaning of Laissez faire means that the government should not interfere in the marketplace
EXAMPLES/SYNONYMS
- Free enterprise
- Free trade
- Market economie
