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ikadub [295]
2 years ago
13

What are some historical examples of laissez-faire capitalism?

History
1 answer:
lapo4ka [179]2 years ago
8 0

Answer:

The factories set up during the Industrial Revolution are a pretty good example of it. 12 hour shifts, usually 6 days a week, sometimes they did 10 day weeks, where you would work 8 or 9 days. The whole family would be employed and they would need to have all been employed, wages being so low. The children would be sent under the machinery when it needed cleaning. They were especially useful for gathering the bits of cotton that dropped under the massive looms, because they could get under them, but it was considered too expensive to shut down the looms when they went under, so occasionally kids got scalped, lost fingers and sometimes died.

People often lived in towns that had been built for the factories and had the rent(often high rent that gets increased without warning) taken out of their wages, but the wages were usually paid in a “factory currency” so the only place you could spend your wages was in the factory shop, obviously at inflated prices.

Of course all the children and adults too that lost fingers and limbs had no form of worker’s compensation and disability payments, so were unable to work and had no form of an income.

I always find it odd when people want a Laissez-faire/libertarianist form of government and they think that businesses will just act for the benefit of everyone and the employees will be treated well and paid a decent wage, consumers will be charged a fair price and they will respect the environment. The reason there are so many regulations(we could no doubt lose some though) is because big businesses have proven time and time again that they cannot be trusted with no regulations.

So you have to tell them that dumping industrial waste into rivers is a bad thing, so don’t do it otherwise we will fine you.

Don’t make your workers work in unsafe conditions, otherwise we will fine you.

Pay your workers enough money to actually live on, otherwise we will fine you.

Pretty obvious things really, but you get more money if you ignore them and they have previously ignored them, hence “government interference”. It would be nice if it worked the way people want, but unfortunately the evidence points to the contrary.

Explanation:

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