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:
World War I was so deadly because all of the new weapons that were invented. New technology that was being invented such as machine guns and mustard gas made war deadlier than every war before.
The United States did not complain as there were at the time fears of a war between U.S. and the Soviets. John F.Kennedy is quoted as having said:"A wall is much better than a war".
