As I understand it, Laissez-faire ideology maintains that the "free market" is the best way to determine what businesses can and should do. This means that businesses, in competition with one another, should be free to determine their paths free from any government rules or regulations. The belief is that the competition among various businesses will ultimately result in the best outcomes for society in general - Adam Smith's "invisible hand". As part of this philosophy, workers should also be free to compete with each other and choose to work wherever they wish and this process will also result in the best results for the workers as well.
However, isn't there a huge assumption in this philosophy? Doesn't the whole justification of this belief depends on the condition that there is perfect competition and that any company and any worker have the equal ability to compete with one another?
What if there is no perfect competition? What if some companies have advantages - due to any of a whole array of reasons - that place them in a non-competitive position vis a vis their competitors? Without perfect competition then other companies are not necessarily able to compete with other companies that have certain advantages. If such a situation exists, then advantaged companies may have the ability to pursue a course that results in their private benefit, but not necessarily to the benefit of society as a whole. The same would apply to workers in that reduced competition among companies would result in decreased leverage for potential employees.
To recap, if the Laissez-faire ideology maintains the best economic policy for society as a whole, and it depends on there being perfect competition on an ongoing basis with minimal government intervention, doesn't it fall apart if there is less than the perfect competition?
The
principle that is evident through the "necessary and proper
clause" in the U.S. Constitution is the rule of law. The correct answer
between all the choices given is the first choice. I am hoping that this answer
has satisfied your query and it will be able to help you in your endeavor, and
if you would like, feel free to ask another question.
Answer:
the amount of goods and services manufactured each year
Explanation:
The Gross National Product represents the total amount of manufactured goods and services that a particular nation has produced in a given time period, usually a year. This economic measurement is one of the most important indicators of how strong an economy is, and also how the economy is developing. The Gross National Product is very high among the developed nations, but there's also developing nations that have much higher GNP than big portion of the developed nations, such as China, India, Brazil, Indonesia.
It is important that the President and Congress work together because without them working together they can't make good decisions, because what they both do involves each other, and they have to work together to make a good decision.
El sector terciario cubre una amplia gama de actividades como: -
→ comercio
→ administración,
→ transporte,
→ actividades financieras e inmobiliarias,
→ servicios comerciales y personales,
→ educación,
→ salud y trabajo social.
