When president Coolidge stated the business of America is business he was emphasizing his belief in this economic policy of leaving businesses alone?

When President Calvin Coolidge stated that "the business of America is business," he was underscoring his belief in laissez-faire economics, which advocates for minimal government intervention in the private sector. This approach was rooted in the idea that allowing businesses to operate freely would promote economic growth and prosperity for the nation as a whole. By prioritizing the interests of businesses, Coolidge aimed to foster an environment conducive to innovation and investment. Ultimately, his statement reflected a broader commitment to capitalism and the belief that a thriving economy benefits all Americans.