Source: Ludwig von Mises Institute
by George Ford Smith
“An attempt to keep government out of their lives began with the French Physiocrats of the 18th century, who labeled their movement laissez-faire — literally, ‘allow to do’ — meaning they opposed state intervention in the economy. Adam Smith expressed the idea with his notion of an invisible hand working to increase society’s wealth as the individual works at making a living: ‘It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interest.’ Yet, as Rothbard details, Smith’s invisible hand was hardly pristine. He called for government intervention in education, government coinage, and regulation of bank paper …. he advocated a ‘soak-the-rich policy of progressive income taxation,’ rigid usury laws, and a pre-Marxist labor theory of value.” (07/02/25)
https://mises.org/mises-wire/free-market-would-preclude-todays-headlines