What is the role of the government in a laissez-faire economy?

Question

Miya Li

Social Studies

28 March, 01:45

What is the role of the government in a laissez-faire economy?

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Answers (2)

Know the Answer?

Miya Lane · Answer 1

They have no role in the economy, it is a "hands-off" economy.

Trevin Zavala · Answer 2

Laissez-faire means let them act. In a laissez-faire economy, the role of the government is minimal. Rather, the economy is guided by the invisible hand, the forces of self-interest and competition working together to provide what consumers want at reasonable prices.