Answer:
success of the Industrial Revolution promoted laissez-faire economic theories
Step-by-step explanation:
There were more factories and machines.
People made more things and sold them for money.
Some people thought the government should not control how people buy and sell things.
They believed that businesses should be free to make their own choices.
They called this idea "laissez-faire."
Authors, Philosophers, and Economists who supported Laissez-faire economics:
Adam Smith: wrote "The Wealth of Nations"
David Ricardo: wrote "On the Principles of Political Economy and Taxation"
John Stuart Mill: wrote "Principles of Political Economy"
Friedrich Hayek: wrote "The Road to Serfdom"
Adam Smith: wrote "The Wealth of Nations":
he thought that people should be able to buy and sell things freely, without government telling them what to do.
David Ricardo: wrote "On the Principles of Political Economy and Taxation":
he believed that countries should make what they are good at and trade with other countries for things they are not good at making.
John Stuart Mill: wrote "Principles of Political Economy"
he said that government should only interfere in the economy if it's necessary to protect others from harm.
Friedrich Hayek: wrote "The Road to Serfdom"
he believed that government should stay out of the economy, and let people make their own choices.
Chatgpt