Difference between revisions of "Laissez faire"
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| − | Laissez faire economists were | + | ''Laissez faire'' economists were philosophers who wanted governments to stay out of economic affairs. They believed that the ideas of supply and demand suggested that an economy would be most efficient if it is not regulated by the government. ''Laissez faire'' translates into, "Do what you will." A noted advocate of the ''laissez faire'' style of economy was [[Adam Smith]]. |
Revision as of 03:01, March 5, 2007
Laissez faire economists were philosophers who wanted governments to stay out of economic affairs. They believed that the ideas of supply and demand suggested that an economy would be most efficient if it is not regulated by the government. Laissez faire translates into, "Do what you will." A noted advocate of the laissez faire style of economy was Adam Smith.