Laissez Faire: Lack of Government Interference in the United States in the 1800's

Laissez Faire: Lack of Government Interference in the United States in the 1800's

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Laissez Faire was policy that stated that the government should interfere as little as possible in the nation's economy in the 1800s. This means that the government has little regulation in business and that businesses can operate in a purely free market. It had advocated individual self-interest and competition, and opposed the taxation and regulation of commerce by government. It had reached its peak during the age of industrialization in 1870s; a time when American manufacturing was made easier as factories were operated free handed. However, the governmental policy of Laissez Faire was in fact encouraged and continued by a direct government intervention. Not many know but government did include a big hand in the policy of Laissez Faire during the Industrial Era. This was during the time of building of railroads and when big businesses bloomed which tremendously increased the economic growth.
When time came to build the transcontinental railroads, the government had given about 150 millions of acres of land for the railroad development, which would greatly influence transporta...

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