Laissez-Faire+Market

**Laissez-Faire Market** > > “The only action which a government can take to protect free competition is: Laissez-Faire! Which, in translate, means Hand Off.” > ---Ayn Rand > >
 * **Let Nature Run its Courses**

**What is Laissez-Faire?**

==
 * Laissez-Faire, a French term that translates loosely as "let things alone”, is the pure kind of Capitalism, which describes an environment in which the government leaves people alone regarding all economic activities.


 * Laissez-Faire is against the interference of government, and also taxes and tariffs which are not used for peaceful, law and order and property right. To some extent, it opposes to Socialism.


 * //The Wealth of Notions// (1776), written by Adam Smith, describes laissez-faire as an “invisible hand”, which means the larger community's general well-being will be benefited when individuals are free to pursue the maximum profitable opportunities, which can be called as individualism.

**History **


 *  Laissez-Faire was promoted by the physiocrats, pioneering economists in the 18th century, firstly formulated the princip les of laissez-faire. Then it strongly supported by Adam Smith, father of classical economics, and also John Stuart Mill.


 * The growth of industry in England in the early 19th century and American industrial growth in the late 19th century both occurred in a laissez-faire capitalist environment.


 * The laissez-faire period ended by the beginning of the 20th century, when large monopolies were broken up and government regulation of business became standard of social behavior.


 * The Great Depression saw the birth of Keynesian Economics, an influential approach advocating government intervention in economic affairs. The movement toward deregulation of business in the United States that began in the 1970s and 80s is to some extent a return to the laissez-faire philosophy.

**Example**


 * Although the economies of the United States and many other industrialized nations are highly capitalistic, there is no pure capitalist system, Laissez-Faire Market because national governments regulate business to some degree.


 * There are still some areas being treated as in Laissez-Faire and the commonest example is Positive Non-Interventionism, the economic policy of Hong Kong during British rule. In the 1960s, John James Cowperthwaite raised the ideal of Non-Interventionism and then implemented Positive Non-Interventionism in 1971. The policy was continued by subsequent Financial Secretaries, including Sir Philip Haddon-Cave .[[image:hong-kong2.jpg width="325" height="233" align="left" caption="Hong Kong, which is prosperity nowadays because of the Positive Non-Interventionism."]]


 * <span style="font-family: Verdana,Geneva,sans-serif; font-size: 12pt;"><span style="font-family: 'Comic Sans MS',cursive; font-size: 12pt;">" Positive non-interventionism involves taking the view that it is normally futile and damaging to the growth rate of an economy, particularly an open-economy, for the Government to attempt to plan the allocation of resources available to the private sector and to frustrate the operation of market forces ", said Haddon-Cave, in 1980. He also explained the "positive" part, which meant the government considered each possible intervention carefully to determine "where the advantage" lies. Economist Milton Friedman admired that Positive Non-Interventionism changed Hong Kong from poverty into prosperity.

<span style="font-family: Verdana,Geneva,sans-serif; font-size: 190%;">**Connections with Anthem**

<span style="font-family: Verdana,Geneva,sans-serif; font-size: 120%;">Laissez-Faire carries the meaning of pure freedom given by the government. There are some connections between Laissez-Faire Market and the book, not only the opposite part, which build up the obvious comparisons but also the similarities. <span style="font-family: Verdana,Geneva,sans-serif; font-size: 120%;">**T****here is hyper-centralize everywhere in Equality’s society, people living in the form of @communes****.** <span style="color: #008080; font-family: 'Comic Sans MS',cursive; font-size: 120%;">** 1.Many rules ** <span style="display: block; font-family: Verdana,Geneva,sans-serif; font-size: 120%; text-align: left;"> In the Laissez-Faire Market, governments do no restrict any business activities of people, just leave them alone. <span style="color: #008080; font-family: 'Comic Sans MS',cursive; font-size: 120%;">**2. Punishments set for transgressing rules**
 * <span style="font-family: 'Comic Sans MS',cursive; font-size: 110%;">“The laws say that men may not write unless the Council of Vocations bid them so.”
 * <span style="font-family: 'Comic Sans MS',cursive; font-size: 110%;">“Men must learn till they reach their fifteenth.”
 * <span style="font-family: 'Comic Sans MS',cursive; font-size: 110%;">“None among men may be alone.”

<span style="display: block; font-family: Verdana,Geneva,sans-serif; font-size: 120%; text-align: left;"> Exactly, scholars of Laissez-Faire think these conducts are not respectful to people for the individual rights. <span style="color: #008080; font-family: 'Comic Sans MS',cursive; font-size: 120%;">** 3. A lot of customs and institutions ** <span style="display: block; font-family: Verdana,Geneva,sans-serif; font-size: 120%; text-align: left;"> In Laissez-Fair Market, government only plays the role of protecting property rights and consumers choose whatever they like. <span style="display: block; font-family: Verdana,Geneva,sans-serif; font-size: 120%; text-align: left;">These mentioned examples show that there is no Laissez-Faire element in Equality’s society.
 * <span style="font-family: 'Comic Sans MS',cursive; font-size: 110%;">People who mentioned the Unspeakable Word was burnt alive in the square of the City, which has been seen by Equality when he was ten.
 * <span style="font-family: 'Comic Sans MS',cursive; font-size: 110%;">Equality was sent to the Palace of Corrective Detention for he refused to say where he was and so he was lashed.
 * <span style="font-family: 'Comic Sans MS',cursive; font-size: 110%;">Council of the World is the most powerful department in Equality’s society and others are controlled below it.
 * <span style="font-family: 'Comic Sans MS',cursive; font-size: 110%;">Council of Vocation chooses career for everybody when they are fifteen.

<span style="display: block; font-family: Verdana,Geneva,sans-serif; font-size: 120%; text-align: left;">**While Equality r****an** **into the Uncharted Forest, the growth of Laissez-Faire Market gradually** **existed** **not only in his life but also his inner world.** <span style="display: block; font-family: Verdana,Geneva,sans-serif; font-size: 120%; text-align: left;"> 1. Equality felt a sense of strange and excited for the first day living in the forest. “<span style="color: #404040; font-family: 'Comic Sans MS',cursive;">We thought suddenly that we could lies thus as long we wished, and we laughed aloud at the thought. We could also rise, or run, or leap, or fall down ”. He realized that although he has broken man rules and has left the society, he now can do everything and pursuit his sake, which meant he was out of the control.<span style="color: #404040; font-family: 'Comic Sans MS',cursive; font-size: 110%;"> “We sized their body and we pressed our lips to theirs” when Equality met the Golden One again in the forest on the second day. <span style="display: block; font-family: Verdana,Geneva,sans-serif; font-size: 120%; text-align: left;"> 2.Equality and the Golden One found a cabin and entered. Equality read a book and suddenly found him individual, and also emphasized the word of<span style="color: #404040; font-family: 'Comic Sans MS',cursive;"> “I” and<span style="color: #404040; font-family: 'Comic Sans MS',cursive;"> “Ego”, which meant he finally awaked, for he knowing how to dominate himself.<span style="color: #404040; font-family: 'Comic Sans MS',cursive;"> “I am not a servant of their needs. I am not a sacrifice on their altars”. <span style="display: block; font-family: Verdana,Geneva,sans-serif; font-size: 120%; text-align: left;">These refer to the main idea of Laissez-Faire Market Let Nature Run its course.

<span style="font-family: Verdana,Geneva,sans-serif; font-size: 190%;">**Further Reading**

<span style="font-family: Verdana,Geneva,sans-serif; font-size: 12pt;">The End of Laissez-Faire (John Maynard Keynes)

<span style="font-family: Verdana,Geneva,sans-serif; font-size: 12pt;">Capitalism

<span style="font-family: Verdana,Geneva,sans-serif; font-size: 12pt;">Laissez-Faire, Growth and Equity-Hong Kong

//<span style="font-family: Verdana,Geneva,sans-serif; font-size: 12pt;">The Unknown Ideal //

<span style="font-family: Verdana,Geneva,sans-serif; font-size: 190%;">**See Also**

<span style="font-family: Verdana,Geneva,sans-serif; font-size: 12pt;">Free-market


 * <span style="font-family: Verdana,Geneva,sans-serif; font-size: 20pt;">References **

<span style="font-family: Verdana,Geneva,sans-serif; font-size: 120%;">"Laissez-faire." Wikipedia, the Free Encyclopedia. Web. 13 Nov. 2011. <@http://en.wikipedia.org/wiki/Laissez-faire>.

<span style="font-family: Verdana,Geneva,sans-serif; font-size: 120%;">"Laissez Faire: Definition from Answers.com." //<span style="background-color: #ffffff; font-family: 'Times New Roman',Times,serif; font-size: 16px;">Answers.com: Wiki Q&A Combined with Free Online Dictionary, Thesaurus, and Encyclopedias //. Web. 13 Nov. 2011. <@http://www.answers.com/topic/laissez-faire>.

<span style="font-family: Verdana,Geneva,sans-serif; font-size: 120%;">"Positive Non-interventionism." Wikipedia, the Free Encyclopedia. Web. 13 Nov. 2011. <@http://en.wikipedia.org/wiki/Positive_non-interventionism>.