Classic laissez-faire theory is based on the idea that

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Classic laissez-faire theory emphasizes the importance of economic competition in promoting growth and innovation. The theory suggests that government intervention in the economy is harmful and that private enterprise should have free reign to operate without government interference. This is grounded in the belief that individuals acting in their own self-interest will ultimately promote the public good through the invisible hand of the market.

Classic Laissez-Faire Theory Is Based on the Idea That