laizzez faire

Laissez-faire (or sometimes laisser-faire) is an economic environment in which transactions between private parties are free from government restrictions, tariffs, and subsidies, with onlyenough regulations to protect property rights.As a system of thought, laissez faire rests on the following axioms:1. The individual is the basic unit in society.2. The individual has a natural right to freedom.3. The physical order of nature is a harmonious and self-regulating system.4. Corporations are creatures of the State and therefore must be watched closely by the citizenrydue to their propensity to disrupt the Smithian spontaneous order.These axioms constitute the basic elements of laissez-faire thought, although another basic andoften-disregarded element is that markets should be competitive, a rule that the early advocates oflaissez-faire have always emphasized Liberal Government introduce social welfare reforms in the early twentieth century

In the late 19th century the British government practiced the principle of laissez-faire. Laissez faire means the business market are free from tariffs, government subsidies and enforced monopolies [2]. Under the principle of Laissez faire, government only provides simple maintenance of law and order, protect property rights against theft and aggression with regulations [3]. Individuals were responsible for their own decisions, to protect and improve their own lives and welfare.[1] After the general election in 1906, the Liberal welfare reform was introduced between 1906 to 1914, changing the attitude and policies towards the poverty. The liberal reforms for children are, free school meals, school medical inspections, Children ‘s charter act and school clinic. The old age pensions act, labour exchange for the unemployed and national insurance for workers were also carried out eventually within this period of time.[1] The attitude towards the working class shifted from individuality to a more aggregate way .The Liberal reforms