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12/16/2015 2:37:16 PM
5
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[b]lais·sez-faire[/b] ˌlesā ˈfer/ [i]Noun[/i] a policy or attitude of letting things take their own course, without interfering. synonyms: noninterventionist, noninterventional, noninterfering; More ECONOMICS abstention by governments from interfering in the workings of the free market.
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So I'm guessing you're for it? If so, why? Can you name the benefits and disadvantages of it?
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[i]courtesy of Wikipedia [/i] [quote]1. The individual is the basic unit in society. 2. The individual has a natural right to freedom.[/quote] Disadvantages would include; People exploiting the system for autocratic reasons Businesses using unfair tactics on their workers
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It's nice to know that you understand the basics at least. However, what do you think about a company or corporation holding a monopoly on a service or product, and squashing any competition through unfair means? What if they raised the price absurdly high and lowered the quality, without any competition to oppose them? What if they paid their workers low wages, made them work unbearable hours, and made them work in a hazardous environment? Do you still support laissez-faire economics?
