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olasank [31]
2 years ago
5

The Supreme Court justices' endorsement of laissez-faire capitalism in the late nineteenth and early twentieth centuries was sig

nificant because
History
1 answer:
Elenna [48]2 years ago
6 0

The Supreme Court justices' endorsement of laissez-faire capitalism in the late nineteenth and early twentieth centuries was significant because it prevented Congress from regulating any economic activity that occurred within a state.

<h3><u>What is laissez-faire capitalism ?</u></h3>
  • Laissez-faire is a free-market, capitalist economic theory that rejects government interference.
  • The French Physiocrats, who lived in the 18th century, created the laissez-faire ideology.
  • According to proponents of laissez-faire, government involvement in industry and markets hinders economic progress.
  • The principles of laissez-faire were later expanded upon by free-market economists as a means of achieving economic development, despite criticism that it encouraged inequality.
  • Critics contend that some level of government control and participation is necessary for markets.

To view more questions on laissez-faire capitalism, refer to:

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