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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: i-node who wrote (843367)	3/17/2015 11:40:57 PM
From: puborectalis	Respond to of 1575147

Belief in laissez-faire was a popular view during the 19th century; its proponents cited the assumption in classical economics of a natural economic order as support for their faith in unregulated individual activity. The British economist John Stuart Mill was responsible for bringing this philosophy into popular economic usage in his Principles of Political Economy (1848), in which he set forth the arguments for and against government activity in economic affairs. Laissez-faire was a political as well as an economic doctrine. The pervading theory of the 19th century was that the individual, pursuing his own desired ends, would thereby achieve the best results for the society of which he was a part. The function of the state was to maintain order and security and to avoid interference with the initiative of the individual in pursuit of his own desired goals. But laissez-faire advocates nonetheless argued that government had an essential role in enforcing contracts as well as ensuring civil order. The philosophy’s popularity reached its peak around 1870. In the late 19th century the acute changes caused by industrial growth and the adoption of mass-production techniques proved the laissez-faire doctrine insufficient as a guiding philosophy. Although the original concept yielded to new theories that attracted wider support, the general philosophy still has its advocates.