Laissez+FaireAR

=Laissez-Faire=

Another important reason the US was able to industtrialize rapidly was its free enterprise system. In the late 1800's, many Americans embraced the idea of laissez faire a french phrase meaning "let the people do as they choose.' Supporters of laissez-faire beleive the goverment should no interfere in the economy other than to protect private property rights and maintain peace. They argue if the goverment regulates the economy, it increases costs and eventually hurts society more than it helps.