The Supreme Court justices' endorsement of laissez-faire capitalism in the late nineteenth and early twentieth centuries was significant because it prevented Congress from regulating any economic activity that occurred within a state.
<h3><u>What is laissez-faire capitalism ?</u></h3>
- Laissez-faire is a free-market, capitalist economic theory that rejects government interference.
- The French Physiocrats, who lived in the 18th century, created the laissez-faire ideology.
- According to proponents of laissez-faire, government involvement in industry and markets hinders economic progress.
- The principles of laissez-faire were later expanded upon by free-market economists as a means of achieving economic development, despite criticism that it encouraged inequality.
- Critics contend that some level of government control and participation is necessary for markets.
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Andrew Jackson created the Democratic party and stood for the people who had not really had a voice, unlike past presidents who stood more for the elites and upper classes. Born into poverty, he was able to come out of it and become a successful war hero which helped him become president.
Rosetta stone which was written in 3 languages including Greek
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<span>Ayatollah Khomeini
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The leader of Iran after the realization of the Iranian Revolution was Ayatollah Ruhollah Musavi Khomeini. He ruled until his death in 1979, when he was 86 years old.
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