Answer:
Is an economic and political doctrine that holds that economies function most efficiently when unencumbered by government regulation. Laissez faire advocates favor individual self-interest and competition, and oppose the taxation and regulation of commerce.
Explanation:
Laissez faire reached its highest peak around the 1870s during the age of America's Industrilization. A contradiction developed, however, as competing businesses began to merge and develop, resulting in a shrinkage of competition. During the administrations and terms of Theodore Roosevelt and Woodrow Wilson, public opinion shifted to support antitrust legislation and stop the abuses of unrestrained business—unfair and abusive child labor, long factory hours and unsafor unsanitary working conditions. Laissez made a comeback of sorts during the boom times of the Roaring 20s, but the depression of the 1930s brought the New Deal and the return of government intervention into America's economy. The economic plan, Laissez Faire, affected economics during the Industrial Revolution because the people believed that it would maximize the economic growth and so everyone would benefit, including factory owners and their employees.
Sources:
https://www.u-s-history.com/pages/h844.html
https://quizlet.com/29749776/industrial-revolution-flash-cards/