Who had the idea that state should not interfere with the economy?

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2026-04-06 22:50

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The idea that the State should intervene in the economy as little as possible is generally known as a free market economy.

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In some economies the government takes steps to control the economy and decide who will benefit from it. In some cases a small class or perhaps an ethnic group will control the economy via their majority hold on the government. In other cases the government will skim a percentage off the economy for their personal use. In other cases they will artificially control the foreign exchange rate of their currency to keep their economy's exports strong. (China)

In a free market anyone with a good idea, service or product can be successful based on their own efforts. Although even in a "free" economy without some government oversight and control there will be abuses by those who will seek to keep their competition out of the market by many means. So an entirely "free" market probably won't work well either.

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