Wednesday, October 29, 2008

"Laissez-faire"

J. Galagher and R. Robinson wrote on « the imperialism of Free Trade » especially on how brithish managed their economy . The expression they imployed “the imperialism of Free Trade” called many debates but now I would like to focus on the politic of “laissez-faire” which is mentioned many time in the paper and that I would like to understand more.
Literally, “laissez-faire” is a French expression which means “let them do as they want.” The phrase is often associated to the concept of free trade. Like I explained in an earlier blog posting free trade is the opening of commerce or trade in an international perspective without any kind of restriction meaning a product move freely anywhere in the world. Then if we associated “laissez faire” to free trade it would mean that there is a kind of liberty in trade. In fact, Free Trade is said to be the economic expression of “laissez-faire.”To better explain myself, if we consider any country for example, applying the politic of “laissez-faire” will be not to intervene in any other countries commerce matters. That is actually what the British did. This politic and also being non-interventionist lead the British to the top in term of commerce during the century before 1914.

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