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11 March, 20:36

The economy of the United States in the past can best be described as laissez-faire capitalism. True / False.

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  1. 11 March, 20:37
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    The economy of the United States in the past cannot best be described as laissez faire capitalism.

    Answer: False

    Explanation: The United States of America has been following a mixed economy. Although there were claims of laissez faire capitalism in the past, the country was almost close to adopting it. A mixed economy is a type of economy where the economy is influenced by centrally planned policies of the government and elements of free market. Laissez faire economy consists of no regulations for transactions between individuals put by the government in the form of taxes or subsidies.
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