Emergence of Laissez-Faire Economics (dec 1, 1870 – dec 1, 1900)
Description:
In the late 19th century, a concept called Laissez-Faire economics was popularized as businessmen strived for unregulated economic activity. Laissez-Faire economics entailed keeping the government out of the economy and letting the people dictate how it should be run. This led to a weakening of executive power since the President could no longer try to regulate the economy.Added to timeline:
Date:
dec 1, 1870
dec 1, 1900
~ 30 years