Explain Why New Classical Economists Favor a Laissez Faire Policy

question 81

Essay

Explain why new classical economists favor a laissez faire policy approach.

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Definitions:

Power Exertion

The act of applying authority or force to achieve a desired outcome or influence others’ behaviors.

Extended Self

A concept in consumer behavior that suggests individuals incorporate possessions and assets into their self-identity.

Individual

Refers to a single human being as distinct from a group, class, or family.

Public

A group of people in general, often referring to the society or the community as a whole.