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| - | {{combi}}
| + | ==Introduction== |
| - | |{{Libertarianism}}
| + | The School of Accounting, Economics & Statistics looks at various aspects of economics, such as general economics, microeconomics, macroeconomics and business economics to name a few. Textbooks are available covering all aspects of economics, as well as extensive journal holdings. Electronic journals can be found in their host databases via the [[Databases]] page of this wiki. |
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| - | |{{liberalism}}
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| - | '''Laissez-faire''' ({{IPA2|lɛse fɛr}}) is a French phrase meaning "let do" or "hands off". From the French diction first used by the [[18th century]] [[physiocrats]] as an injunction against government interference with trade, it became used as a synonym for strict [[free market]] [[economics]] during the early and mid-[[19th century]]. It is generally understood to be a doctrine that maintains that private initiative and production are best allowed to roam free, opposing [[economic interventionism]] and [[taxation]] by the state beyond that which is perceived to be necessary to maintain peace, security, and property rights.<ref name="Hanlin">{{cite journal|author=Oscar Handlin|title=Laissez-Faire thought in Massachusetts, 1790-1880|year=1943|journal=Journal of Economic History|volume=3|pages=55-65}}</ref> In this view, it is not the job of the state to intervene in the economy in an attempt to reduce [[inequality]], [[poverty]] or protect [[worker's rights]] (except to the extent that they are covered under [[property rights]]). [[Free-market anarchist]]s take the idea to its full length by opposing all taxation. Laissez-faire also embodies [[free trade]], namely that a state should not use [[protectionism|protectionist measures]], such as [[tariff]]s, in order to curtail trade through national frontiers.
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| - | In the early stages of European and American [[economics|economic]] theory, laissez-faire economic policy was contrasted with ''[[mercantilism|mercantilist]]'' economic policy, which had been the dominant system of the United Kingdom, Spain, France and other European countries, during their rise to power.
| + | ==Electronic Resources== |
| | + | The Library subscribes to various electronic resources. A full list of all Business and Law databases can be found on the [[Databases]] page, however here are those which are of most use to economics students. For academic journal articles, I would recommend the following databases: |
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| - | The term ''laissez-faire'' is often used interchangeably with the term "[[free market]]." Some use the term ''laissez-faire'' to refer to "let do, let pass" attitude for matters outside of economics.<ref>As well as being used in economic management, the term has also been applied more broadly to a style of [[management]] and [[leadership]], where it typically describes any form of control where the controlled are given most or all of the decision-making power. In this limited usage, ''laissez-faire'' (imperative) has come to be distinct from ''laisser faire'' (infinitive), which refers to a careless attitude in the application of a policy, implying a lack of consideration or thought.</ref>
| + | *[[ABI/INFORM]] |
| | + | *[[Emerald]] |
| | + | *[[Blackwell Synergy]] |
| | + | *[[Science Direct]] |
| | + | *[[Ingenta]] |
| | + | *[[Nexis UK]] |
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| - | Laissez-faire is associated with [[classical liberalism]], [[libertarianism]], and [[Objectivism (Ayn Rand)|Objectivism]].{{Fact|date=February 2007}}<!--"associated with" is too weak as it can include anything.--> It was originally introduced in the English-language world in 1774, by [[George Whatley]], in the book 'Principles of Trade', which was co-authored with [[Benjamin Franklin]]. Classical economists, such as [[Thomas Malthus]], [[Adam Smith]] and [[David Ricardo]] did not use the term—[[Jeremy Bentham|Bentham]] did, but only with the advent of the [[Anti-Corn Law League]] did the term receive much of its (English) meaning.<ref>{{cite journal|author=Abbott P. Usher et al.|title=Economic History--The Decline of Laissez Faire|year=1931|journal=American Economic Review|volume=22|issue=1, Supplement|pages=3-10}}</ref>
| + | [[ABI/INFORM]] has the largest amount of publications available on it and is an excellent database to start with. |
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| - | == Economic theory == | + | ==External Resources== |
| - | The ''laissez-faire'' means that the neoclassical school of economic thought holds a pure or [[Economic liberalism|economically liberal]] market view: that the [[free market]] is best left to its own devices, and that it will dispense with inefficiencies in a more deliberate and quick manner than any legislating body could. The basic idea is that less [[government]] interference in private economic decisions such as pricing, production, consumption, and distribution of goods and services makes for a better (more efficient) economy.
| + | There are many external webpages that can assist the student of economics. These may be via Internet Gateways, which essentially take the browser to free sources of information that have been vetted by experts. Two of the best examples of this type of resource are |
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| - | Economist [[Adam Smith]] in his book '[[Wealth of Nations]]' argued that the ''[[invisible hand]]'' of the market would guide people to act in the public interest by following their own self-interest, since the only way to make money would be through voluntary exchange, and thus the only way to get the people's money was to ''give the people what they want.''
| + | *[http://www.intute.ac.uk/socialsciences/economics/ Intute:Social Sciences Economics] |
| - | Smith pointed out that one does not get one's dinner by appealing to the brother-love of the butcher, the farmer or the baker. Rather one appeals to their self interest, and pays them for their labour.
| + | *[http://www.bubl.ac.uk/link/linkbrowse.cfm?menuid=2828 BUBL Link Economics] |
| | + | *[http://www.bized.co.uk/ Biz/ed] |
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| | + | As well as these Gateways there are many professional organisations which have useful information on their websites. Here is a list of some that you may find useful. |
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| | + | *[http://www.wto.org World Trade Organisation] |
| | + | *[http://worldbank.org/ The World Bank] |
| | + | *[http://www.imf.org/external/index.htm International Monetary Fund] |
| | + | *[http://www.globalisationguide.org/ Globalisation Guide] |
| | + | *[http://www.globalpolicy.org/ Global Policy] |
The School of Accounting, Economics & Statistics looks at various aspects of economics, such as general economics, microeconomics, macroeconomics and business economics to name a few. Textbooks are available covering all aspects of economics, as well as extensive journal holdings. Electronic journals can be found in their host databases via the Databases page of this wiki.
The Library subscribes to various electronic resources. A full list of all Business and Law databases can be found on the Databases page, however here are those which are of most use to economics students. For academic journal articles, I would recommend the following databases:
There are many external webpages that can assist the student of economics. These may be via Internet Gateways, which essentially take the browser to free sources of information that have been vetted by experts. Two of the best examples of this type of resource are
As well as these Gateways there are many professional organisations which have useful information on their websites. Here is a list of some that you may find useful.
