Laissez-Faire and State Intervention: The Economy
The term laissez-faire has traditionally been used to describe the state’s reluctance to interfere in industrial and social activity. Bentham, J. S. Mill and Smiles emphasised government’s role to be to rule rather than legislate, but the first broadside to mercantilism was delivered by Adam Smith in his work ‘An Inquiry into the Nature and Causes of the Wealth of Nations’.
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