TUGAS 3

BAHASA INGGRIS NIAGA

NAMA : FAHRI ALDI

NIM : 043520845

TUTON : BAHASA INGGRIS NIAGA

The principles of Laissez-Faire are not valid anymore in this present time.

In the first hand, the statement generates the advantages occurred for example: Companies
are compelled to be more creative and innovative in their approach, discourages corruption,
gives businesses more space and autonomy from government rules and regulations. However,
on the other hand, it produces any government regulation or policy that limits international
trade, income inequality and failure to represent the interests of the entire society. Therefore,
Laissez-faire alone is not enough to guide an economy, but with a proper balance between the
power given to the government and freedom of market forces, economies can flourish with
minimized risks.

Critique of Laissez Faire One of the main criticisms of laissez faire is that the capitalist
system has a moral problem, where the system does not protect the weakest people in society.
On the other hand, supporters of laissez faire believe that if individuals put their own interests
first, various benefits for society will follow.

However, critics of laissez faire feel that the doctrine leads to poverty and economic
inequality. The idea of allowing the economic system to run without regulation ignores or
even sacrifices the people who need help the most. The British economist John Maynard
Keynes was a prominent critic of the laissez faire doctrine.

SUMBER:

 BMP ADBI4201