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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<span>There has been a decline in economic productivity in countries affected by AIDS.</span>
Answer:
The government structure in which people exercise power directly or elect a legislative body, such as a parliament, to represent themselves. Democracy is also called 'majority law.'
Explanation:
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Prime Minister. The Prime Minister is an MP and head of the government. The leader of the party that wins the most seats in a general election is appointed Prime Minister by the Queen. The current Prime Minister is Rt Hon Theresa May MP, leader of the Conservative Party.
