One of the main reasons why the Continental Congress choose Thomas Jefferson to be the author of the Declaration of Independence is because "<span>b. He was known to be an excellent political writer," since he had widely studied many Enlightenment philosophers. </span>
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?
Answer:
Henry Clay Sr. was an American attorney and was Kentucky’s representative in both the Senate and House.
The Missouri compromise by Senator Clay involves admitting Maine to the United States as a free state while at the same time having Missouri as a slave state.
The Northerners and Southerners probably had the strong feeling that Clay was only working to solve the problems in ways in which he best knew how to.
Due to non-violent methods of the Father of Our Nation Mahatma Ghnadi which led to the British withdrawing from India in August 15 1947
Answer:
Executive branch: Enforces laws
Legislative branch: Makes the laws
Judicial branch: Interprets the laws
