What economic policy in the 19th century focused on limited governmental intervention in business practices? 🔊
The economic policy in the 19th century that focused on limited governmental intervention in business practices was known as laissez-faire economics. This approach advocated minimal restrictions on businesses, allowing market forces to dictate production, pricing, and competition. Proponents believed that economic growth would be best achieved through free market principles, leading to increased efficiency and innovation. However, the laissez-faire philosophy also resulted in various social challenges, such as worker exploitation and economic inequality, prompting later reforms and regulatory measures.


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