The policy of letting things alone, in the practical sense…
“The policy of letting things alone, in the practical sense that the Government should never interfere with business or go into business itself, is called Laisser-faire by economists and politicians. It has broken down so completely in practice that it is now discredited; but it was all the fashion in politics a hundred years ago, and is still influentially advocated by men of business and their backers who naturally would like to be allowed to make money as they please without regard to the interest of the public.”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
Advocates laissez‑faire economics, noting its historical popularity and current disreputation due to public interest neglect.
In simple terms: Laissez‑faire means no government interference, but it often harms public welfare.
Key Takeaway
Consider limits of market freedom.
Themes
economics
government
policy
history
Mood
analytical
historical
Type
play
philosophical
When to use this quote
- business strategy
- public policy
- economic history
- regulatory debate
Key Concepts
capitalism
public interest
regulation
Questions to Reflect On
- When should government intervene?
- What safeguards protect public interest?
A Different Perspective
Unchecked markets can ignore social costs.