The Principles of Freedom and Government Intervention in American Economic Expansion

The laissez-faire theory in its various European forms is not as simple or clearcut as it is sometimes presented. Nor is it merely the converse of another theory equally complex but which is often taken simply as one of organization and complete state intervention. From the Physiocrats on, the exponents of the theory of laissez-faire, or freedom of industry, set themselves the task not only of freeing the economy and the individual, but also of directing and nurturing activity designed to improve the economy. This aim took the form of the advocacy of a wide variety of social and state actions; for example, the promotion of a stable currency, science and invention, education of the labor force, humanitarian reforms, especially in penology, and cultural, ideological, and even aesthetic advances. In short, the issue of individualism often became the broader issue of civilization.