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?
I like how the tea bag turns to a different color under like 15-20 secs.
I like how if you don’t mix the honey it will just sit in the bottom of your cup forever.
The term "Trail of Tears" refers to the difficult journeys that the Five Civilized Tribes took during their forced removal from the southeast during the 1830s and 1840s. The Cherokee, Creek, Choctaw, Chickasaw, and Seminole were all marched out of their ancestral lands to Indian Territory, or present Oklahoma.
Answer: i dont remeber completly but 21354
Explanation:
There are generally three possibilities for the US to add new states:
Breakup of an existing large state
Conversion of an existing US territory into a state
Annexation (voluntary or not) of either another whole country or part of one, and then conversion into a state.
so yes therefore it is possible
