Question

Which economic principle means "free to do" and was based on the idea that the market should be free from regulation and government involvement, resulting in the creation of wealth?

Answer 1

Answer:

Laissez-Faire

Explanation:

Laissez-Faire comes from French phrase "Laissez faire, laissez passer" (let it do, let it pass). It was initially practice in the mid-18th Century and later popularized in the book The Wealth of the Nations, written by English economist Adam Smith. Laissez-Faire approach in Economics had a big influence in Classical Liberalism, Austrian School and different sides of Libertarianism.