Final answer:
The laissez-faire approach during the Irish Famine led to insufficient government aid and, along with prejudice against the Catholics, resulted in mass starvation, death, and emigration, reducing Ireland's population drastically.
Step-by-step explanation:
The text suggests that laissez-faire capitalism adversely affected the people of Ireland during the Irish Famine. The British government's adherence to laissez-faire principles meant minimal intervention in the economy, resulting in inadequate and ineffective aid to the Irish during the crisis. This approach, coupled with prejudice against the Catholic Irish, led to over a million deaths due to starvation and forced another million to emigrate, mostly to the United States. The potato, being a staple food and the main crop, when struck by blight, led to disastrous consequences, with the population reduction from over 8 million to below 5 million, a figure that has remained consistent to this day.