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3 years ago

Did the government practice laissez-faire economics when promoting railroad construction ?

History

1 answer:

Alex73 [517]3 years ago

5 0

Yes, the government practiced laissez-faire economics when promoting railroad construction.

This is because laissez-faire economics is a type of economics that is determined solely by the power of demand and supply without the intervention of the government.

Laissez-faire economics is considered to be a total or pure capitalism where the only influence is the force of demand and supply.

Since the railroad construction in the United States in the 19th century was built by the private sector or individuals, and the prices of transportation were determined by the market forces,

hence, in this case, the correct answer is "Yes, the government practiced laissez-faire economics when promoting railroad construction."

Learn more here :brainly.com/question/13663371

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