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Civilopedia Entry Edit

Laissez-faire economics is the capitalist’s holy grail, for all private transactions are completely free from any sort of government involvement or oversight – including tariffs, subsidies, trade regulations, limits on monopolies, price controls, labor affairs, or any other such nonsense. The debate on laissez-faire economics dates back as far as the Han, Tang, Song, and Ming dynasties in China when officials and merchants argued for centuries on how much government involvement was necessary or justified. In the modern age, as multi-national corporations became ever more influential, the debate intensified, with Adam Smith acknowledging deep moral ambiguities and John Maynard Keynes condemning laissez-faire economics outright.