3. why would a business owner have supported the us governments laissez faire approach to economic policy…

3. why would a business owner have supported the us governments laissez faire approach to economic policy during the late 1800s? 4. how do you think america would be different today if the us government took a strict laissez faire approach to the us economy?

3. why would a business owner have supported the us governments laissez faire approach to economic policy during the late 1800s? 4. how do you think america would be different today if the us government took a strict laissez faire approach to the us economy?

Answer

Brief Explanations:

  1. In the late 1800s, a laissez - faire approach meant less government regulation. Business owners could operate with more freedom, set prices and production levels as they pleased, and avoid high taxes and restrictions on expansion. This allowed for greater profit - making potential and business growth.
  2. If the US government took a strict laissez - faire approach today, there might be less government intervention in areas like labor rights, environmental protection, and financial regulation. There could be more rapid business growth in some sectors but also increased income inequality, more environmental degradation, and higher risks of financial crises due to lack of oversight.

Answer:

  1. Business owners supported it for more freedom, less regulation, and greater profit - making potential.
  2. There could be more business growth in some areas but also increased inequality, environmental issues, and financial risks.