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What Is Laissez Faire Economics?

By Jeremy Bowman – Updated Nov 21, 2024 at 10:26AM

Key Points

  • Laissez-faire economics advocates for minimal government interference, relying on market forces.
  • Adam Smith's notion of the "invisible hand" underpins this system, promoting self-regulated markets.
  • Reagan's era demonstrated laissez-faire with tax cuts and deregulation, but led to increased inequality and debt.
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