According to American businessmen who subscribed to the economic theory of laissez-faire,what was the role of the government in the economy?
A) It should always intervene in the nation's economic affairs.
B) It should not interfere in economic affairs except to protect private property.
C) It had the responsibility to foster competition in industry.
D) Only state governments should intervene in the nation's social and economic affairs.

Question

Quizplus · Accepted Answer

American businessmen who subscribed to the economic theory of laissez-faire believed that the government should not interfere in economic affairs except to protect private property. They believed that the free market would regulate itself and produce the best outcomes for society without government intervention.

According to American Businessmen Who Subscribed to the Economic Theory