Lightly-Regulated Liberal Economic Ideology

AKA: Laissez-Faire Economic Doctrine.
Context:
- It can (typically) advocate strong Property Rights.
Example(s):
- (Friedman, 1962).
- Ayn Rand.
- …
Counter-Example(s):
- Caring Capitalism.
See: Capitalistic Economic Policy, Wealth Redistribution Policy, Winner-Take-Most Outcome, Socialist Economic Policy, Government Subsidy, Corporate Monopoly.

References

http://en.wikipedia.org/wiki/Laissez-faire
- QUOTE: Laissez-faire ( /ˌlɛseɪˈfɛərʔ/, French: [lɛsefɛʁ] (File:Speaker Icon.svg listen)) is an economic environment in which transactions between private parties are free from tariffs, government subsidies, and enforced monopolies, with only enough government regulations sufficient to protect property rights against theft and aggression. The phrase laissez-faire is French and literally means "let [them] do", but it broadly implies "let it be", or "leave it alone." A laissez-faire state and completely free market has never existed, though the degree of government regulation varies considerably.^[1]^[2]

↑ Buder, Stanley. 2009. Capitalizing on Change: A Social History of American Business Pg. 13. ISBN 978-0-8078-3231-8.
↑ http://www.econlib.org/library/Enc/Capitalism.html "A fully free economy, true laissez-faire, never has existed...", Robert Hessen, senior research fellow at Stanford University’s Hoover Institution

(Friedman, 1962) ⇒ Milton Friedman. (1962). “Capitalism and Freedom." University of Chicago Press.
- QUOTE: … there is one and only one social responsibility of business – to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud. …

Ayn Rand.
- QUOTE: The only action which a government can take to protect free competition is: Laissez-faire! which, in translation, means: Hands off.

(Schumpeter, 1942) ⇒ Joseph Schumpeter. (1942). “Socialism, Capitalism and Democracy."