Question

What do Laisser-faire supporters believe about tariffs

Answer 1

Laissez Faire supported believed that they could now compete and win sales in the foreign market.

The word Laissez Faire means let go, the supporters believed that if the Government’s intervention should not continue in the aspects like tariff, subsidies and privileges. Their intervention can be up to a limit of protecting the private property rights of the people in order to maintain peace.

The market economies are allowed to regulate freely with the minimal intervention of the Government which ensures a smooth trade. It’s a capitalist concept.