laissez-faire

Examples of laissez-faire in the following topics:

• Conservatism

  • Historically, the term referred to combination of economic liberalism, which champions laissez-faire markets, with the classical conservatism concern for established tradition, respect for authority, and religious values.
  • Libertarian conservatives generally support strict laissez-faire policies such as free trade and oppose any national bank, regulations on businesses, environmental regulation, corporate subsidies, and other areas of economic intervention.

• Liberalism

  • Liberalism espouses a wide array of views depending on their understanding of these principles, and can encompass ideas such as free and fair elections, free trade, private property, capitalism, constitutionalism, liberal democracy, free press, and the free exercise of religion.
  • It advocates civil liberties with a limited government under the rule of law, private property, and belief in laissez-faire economic policy.
  • Novak, liberalism in the United States shifted in the late 19th and early 20th century from classical liberalism (endorsing laissez-faire economics and constitutionalism) to "democratic social-welfarism" (endorsing such government involvement as seen in the New Deal).
  • Roosevelt, whereas in Europe it is more commonly associated with a commitment to limited government and laissez-faire economic policies. " Consequently in the U.S., the ideas of individualism and laissez-faire economics previously associated with classical liberalism, became the basis for the emerging school of right wing libertarian thought.

• Deregulation

  • Laissez-faire is an example of a deregulated economic environment in which transactions between private parties are free from government restrictions, tariffs, and subsidies, with only enough regulations to protect property rights.
  • The phrase laissez-faire is French and literally means "let [them] do," broadly implying "let it be" or "leave it alone. "
  • Austrian economist Friedrich von Hayek, along with University of Chicago economist Milton Friedman are two classic liberal economists attributed with the return of laissez-faire economics and deregulation.

• The Traditional Political Spectrum

  • Support for laissez-faire capitalism was expressed by politicians sitting on the left, because these represented policies favorable to capitalists rather than to the aristocracy, but outside of parliamentary politics, these views are often characterized as being on the right.
  • This evolution has often pulled parliamentary politicians away from laissez-faire economic policies, although this has happened to different degrees in different countries.

• Dual Federalism: From the Civil War to the 1930s

  • With an emphasis on local autonomy and individual liberty, the theory served to unite the principles held by multiple sectional interests; the republican principles of northerners, the pro-slavery ideology of southern planters, and the laissez-faire entrepreneurialism of western interests.

• Social Regulation

  • Other forms of regulation and deregulation came in waves: the deregulation of big business in the Gilded Age, which led to President Theodore Roosevelt's trust busting from 1901 to 1909; more deregulation and Laissez-Faire economics in the 1920's, which was followed by the Great Depression and intense governmental regulation under Franklin Roosevelt's New Deal; and President Ronald Reagan's deregulation of business in the 1980s.

• Ideological Third Parties and Splinter Parties

  • The Libertarian Party supports laissez-faire policies, small government, and is characterized by being socially liberal and fiscally conservative.

• Income Security Policy

  • The approach to economic policy in the United States was rather laissez-faire until the Great Depression.

• Jacksonian Democrats: 1824–1860

• The Progressive Era

  • In general, they accepted the concept of laissez-faire, which was doctrine opposing government interference in the economy except to maintain law and order.