Laissez-faire proponents contend that the government can serve a valuable role in encouraging firms to engage in research and development by creating a patent system.

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Laissez-faire proponents believe in minimal government intervention in the economy, but they do support the government creating and enforcing a patent system. This is because patents provide an incentive for firms to invest in research and development by granting them exclusive rights to their inventions for a period of time, thus fostering innovation and economic growth.

Laissez-Faire Proponents Contend That the Government Can Serve a Valuable