Laissez-faire
What is laissez-faire?
Laissez faire is a form of capitalism that has minimal government intervention
What are some common government restrictions on businesses?
Minimum wage, building requirement's, overtime and tariffs/taxez
What is capitalism?
an economic system in which private actors own and control property in accord with their interests, and demand and supply
who your teacher of world history honors?
Mrs. Fields
Who is the current tallest human?
Sultan Kösen
What are the differences between laissez faire and state capitalism?
laissez faire has almost no government intervention while state capitalism the government plays a major role in business and the economy
Why doe the government impose these policies on business
To ensure safe working conditions and increase the standard of living for its workers
What is the role of government in a capitalist society?
The role of the government is to enforce laws and regulations, prevent monopolies and make sure the labour force had their human rights fulfilled.
who was one of the people who was against capitalism
John Locke
What is mrs fields favorite period of history?
The Middle Ages
Who was one of the main advocates for laissez faire?
Adam Smith
Why does the government prevent monopolies?
Monopolies allow for the company to raise there prices and without another option consumers have to buy from them. This causes the standard of living to be more expensive so the government prevents them.
What is the opposite of capitalism?
Statism, statism is the concentration of power in the state at the expense of individual freedom.
Who was one of the main advocates of the scottish enlightenment?
David Hume
What is Keniah‘s favorite color?
Baby blue
What is one of the main problems with laissez faire?
One of the most common problems is that Laissez faire does not protect/support the weaker in society.
What are the effects of the government implementing tariffs?
Tariffs cause for higher prices to the consumer or they might eliminate trade as a whole if they cost enough
How is democracy related to capitalism?
Capitalism was viewed as a means of producing the wealth which maintained political freedom, while a democratic government ensured accountable political institutions and an educated labour force with its basic rights fulfilled.
Who is considered the father of “capitalism”?
Adam Smith
How tall is the pyramid of giza
450ft
Why are monopolies very common in laissez faire economy
Due to the governments lack of restrictions on the economy and company’s allows for monopolies while the laissez faire economy promotes them by not supporting newcomers
What effect does pirating have on trade and how does the government intervene and stop these crimes?
Pirating causes for the prices on certain goods to go up and cost the company a lot of money. the government stops this by implementing laws to prevent pirating and makes sure that those laws are enforced.
What does capitalism have to do with freedom?
Capitalism upholds economic and social freedom buy the government puts limits on some products.
Who’s theories led to the development of ”Marxism”?
Karl Marx
What is Andres opinion on capitalism?
His opinion is that capitalism motivates consumers and producers. While also saying that capitalism isn’t always fair to every one where rich people.