Question

According to the laissez-faire theory what are the three major concerns of government

Answer 1

According to the laissez-faire theory, the three major concerns of government are economic growth and development, no quality controls or health and safety standards, and the automatic cycle of economic growth and contraction.

Step-by-step explanation:

Laissez-faire economics is the belief that economic markets should operate entirely free of government intervention in order to operate most effectively and efficiently. The three major concerns of government according to the laissez-faire theory are:

1. Economic growth and development: Proponents of laissez-faire believe that private investors are better equipped than the government to determine which sectors of the economy will grow and which products will be successful.
2. No quality controls or health and safety standards: Laissez-faire proponents oppose government efforts to establish quality controls or health and safety standards, believing that consumers themselves will punish poor corporate behavior.
3. Automatic cycle of economic growth and contraction: Laissez-faire proponents believe that government intervention in the economy disrupts the natural cycle of economic growth and contraction, and that recessions should be allowed to correct themselves without government interference.

Answer 2

The three major concerns of the government in terms of the Laissez-faire theory is the construction and the maintenance of the workers in the public in which are expensive, defending the country and the protection of each individuals involved in it.