Final answer:
Darwin's theory of evolution was misappropriated by 19th-century capitalists to justify a laissez-faire economic system through a belief known as Social Darwinism, which held that ruthless competition and survival of the fittest should extend to socioeconomic realms.
Step-by-step explanation:
The scientific theory of evolution proposed by Charles Darwin was co-opted by the proponents of unfettered capitalism in the late 19th century to justify their economic systems and social policies. This misuse of biological principles gave rise to Social Darwinism, a pseudo-scientific theory that presented socioeconomic success as an outcome of 'survival of the fittest', a phrase coined by Herbert Spencer. Drawing an erroneous parallel between biological evolution and societal advancement, Social Darwinists argued that just as nature favored stronger and better-adapted species, the competitive market system naturally selected for individuals who were economically successful, which was often presented as evidence of their inherent superiority. This rationale was utilized to support laissez-faire capitalism, resist social welfare programs, and justify racial and class inequalities.
The most accurate answer to the student's question would be the second option: 'Economic progress could be achieved in the modern world, but only through people's ruthless and violent competition, so a laissez-faire economic system was necessary.' Social Darwinism essentially declared that through ruthless competition, like the natural selection observed in species, economic and social hierarchies would be established and maintained. This aligned with the laissez-faire belief that minimal government intervention allowed for the most natural and efficient organization of society.