According to the philosophy of laissez-faire, what should a government do about the growing inequality between the rich and poor caused by the industrial revolution?

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Maxim Curry

12 May, 05:45

According to the philosophy of laissez-faire, what should a government do about the growing inequality between the rich and poor caused by the industrial revolution?

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Elijah · Answer 1

Leave the market on its own, Government must not interfere.

Explanation:

Laissez-Faire is the theory that argues that the economy is strongest when the government does not protects individual rights, it also restricts government intervention in the economy.

It is a french word meaning "let do", in economy it means that market should be left alone to do its own things and laws of demand and supply will direct the production of goods and services.

Demand stands for the purchases by the business and consumers while supply includes the capital, resources and labour.