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Laissez-Faire During The Industrial Revolution

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During the Industrial Revolution, ideas and inventions quickly spread throughout the country. One of the most important ideas was laissez-faire. Because of this idea of “letting things take their own course, without interference from the government”, people were able to create and market their inventions. In my opinion, without this idea many of the advancements of the future would not be here, and our world would of had little advancement. Due to the fact, that this idea had one of the biggest impacts during the Industrial Revolution.

The concept of laissez-faire is to “let it be and leave it alone”. With this, many important companies could be created, causing new, improved goods to be created. Companies would benefit from this idea, making the workers benefit also. This new spike helped the economy grow, which enabled richer countries. Laissez-faire promoted competition between companies. Companies would compete to create the best, cheapest product on the line. All in all, the benefit of laissez-faire would help benefit all aspects of life from the country to the companies to the citizens, ending in a strong economy. …show more content…

Companies were able to take risks that could possibly improve their business and the economy. It inspired and promoted citizens to also take risks. People believed this idea would maximize the economy, helping companies and workers. Since the idea of laissez-faire promotes individual self interest, people could invest in products they believed would be important and needed in there company. Stocks would rise, paychecks would be raised, and people would have more money to spend on the luxuries of

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