How did the free enterprise system most encourage American economic growth in the 1800's?

History

1 answer:

natulia [17]2 years ago

8 0

<u>Answer</u>:

The free enterprise system encouraged the American economic growth in the 1800's by gaining wealth.

<u>Explanation</u>:

The Free Enterprise system led to the rise of industries. The United States government took a different approach to regulate its business. This approach was called free enterprise. This also eventually led to technological innovations.

The main motto of this system was "Let people do as they choose". Supporters of free enterprise system believed that the government rather than interfering in the economy, should protect their private property rights and maintain peace.

The British largely permitted this as it was capable of bringing wealth in the country and their North American colonies would develop. Thus, large amount of availability of labor, natural resources like coal, iron and the government policies help the rise of industries during late 1800s.

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