Google Answers Logo
View Question
Q: economics ( Answered,   0 Comments )
Subject: economics
Category: Business and Money > Economics
Asked by: sam_21-ga
List Price: $10.00
Posted: 07 Oct 2002 19:24 PDT
Expires: 06 Nov 2002 18:24 PST
Question ID: 73832
"Laissez-Fair" would be perfectly acceptable economic system in a
world of full employment. Do you agree?why or why not?

Request for Question Clarification by pinkfreud-ga on 07 Oct 2002 19:31 PDT
Are you looking for a researcher's opinion on this, or do you need
help in completing a school assignment?

If the latter, it would be very helpful to know what material you've
gathered so far, and what online sources you have investigated, so
that we won't be telling you things that you already know.
Subject: Re: economics
Answered By: snapanswer-ga on 07 Oct 2002 20:56 PDT
The question of whether or not an economic system should abide by
"Laissez-Faire" policies does not turn on whether or not a system
provides full employment.  Full employment is not a great virtue if
the resulting resources earned do not meet the spending needs of the
workers, or if the supply of goods and services generated do not meet
public demand.

With that in mind, in a free-enterprise system "Laissez-Faire" is an
acceptable economic policy, regardless of whether or not full
employment is achieved.  It is important to underscore that
"Laissez-Faire" does not mean that government intervention is
completely absent.  Instead, it means that government regulation is
limited to only necessary areas to enable the market system to
function properly.  That still provides ample opportunity for the
government to become involved in limiting such things as fraudulent
behavior, abuses of market power, or collusion against the public, for

Finally, even if one believes that "Laissez-Faire" policies cannot be
trusted to ensure the proper functioning of a market economy, it is
generally found that policies of government interference in the
allocation of resources does not lead to higher employment rates.  For
example, minimum wage laws and employee hiring requirements tend to
result in lower employment rates rather than full employment. "Laissez-Faire" Capitalism FAQ

Search Terms: Laissez-Faire
There are no comments at this time.

Important Disclaimer: Answers and comments provided on Google Answers are general information, and are not intended to substitute for informed professional medical, psychiatric, psychological, tax, legal, investment, accounting, or other professional advice. Google does not endorse, and expressly disclaims liability for any product, manufacturer, distributor, service or service provider mentioned or any opinion expressed in answers or comments. Please read carefully the Google Answers Terms of Service.

If you feel that you have found inappropriate content, please let us know by emailing us at with the question ID listed above. Thank you.
Search Google Answers for
Google Answers  

Google Home - Answers FAQ - Terms of Service - Privacy Policy