Laissez faire was the first huge reformation of government and was, in fact, invented by common people. It is simply the idea of not letting the government interfere with peoples’ private businesses. This method dates back all the way to ancient China (200 BC). The people of Han and Ming dynasties argued over the government being an active participant in economy. They believed that regulated official prices and checked products would lead to an economic success. Confucius, on the other hand, believed that people should decide on their market themselves and have the full authority to advertise and sell their products in any way they wanted. Although the Han dynasty didn’t accept this idea, the Song and Ming followed laissez faire until their dynasti...
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• Various Sources Cited. "Laissez Faire." Laissez Faire. Wikipedia, 25 Feb. 2011 (last edited). Web. 1 Mar. 2011.
• "Laissez-Faire." Web log post. What Does Laissez-faire Mean? Answers.com. Web. 1 Mar. 2011.
• Gaynor Ellis, Elisabeth, and Anthony Esler. ""New Economic Thinking"" World History: The Modern Era. Prentice Hall. 186. Print.
• "Adam Smith." Adam Smith. Library of Economics and Liberty, 2008. Web. 4 Feb. 2011.
• Orasmus, Laura. “Adam Smith.” Adam Smith. Ez. Web. 6 Feb. 2011.
• Smith, Adam. "Book 1; Chapters 1-6." The Wealth of Nations. Glasgow, 1776. Print.
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