Can Laissez-Faire and Welfare State Maintain a Symbiotic Relationship in the Modern World?

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Introduction: In the early 20th century, the political gospel of laissez-faire was preached.[1] With the introduction of the Administrative law, the concept of laissez-faire came to an end. Laissez-faire economy is a theory that restricts government intervention in the economy. It states that when the government’s only function is to Read more…