Why did Jefferson pursue a laissez-faire economic system in the United States? It was a mandate following the Marbury V.Madison Supreme Court ruling, the size of the federal government increases under a free market economy, a market economy was necessary for the purchase of the Louisiana territory, or implementing a free market economy, list the role of the federal government

Answer 1

Jefferson pursued a laissez-faire economic system in the United States for several reasons.

Firstly, Jefferson believed in the importance of limited government intervention in the economy. He saw the market as the most efficient and effective mechanism for allocating resources and driving economic growth. Therefore, he believed that government interference in economic affairs would hinder this process and lead to inefficiencies.

Secondly, Jefferson was influenced by the ideas of Adam Smith and other proponents of laissez-faire economics. These thinkers argued that government intervention could distort the natural workings of the market and create imbalances and inefficiencies. Jefferson thus saw a laissez-faire approach as a means to ensure economic freedom and promote the individual liberty and self-interest of citizens.

Furthermore, the expansion of the United States through the Louisiana Purchase presented a new challenge. Jefferson recognized that a market economy was necessary for the successful development and settlement of the newly acquired territory. By implementing a laissez-faire economic system, he aimed to facilitate commercial and territorial growth, believing that it would promote stability and prosperity.

Regarding the role of the federal government, under a free-market economy, Jefferson believed that its responsibilities should primarily be limited to maintaining law and order, protecting individual rights, and national defense. It was expected to provide a stable legal and political environment for economic activities to take place but should avoid excessive intervention in economic affairs.

In summary, Jefferson pursued a laissez-faire economic system in the United States due to his belief in limited government interference, the influence of thinkers like Adam Smith, the necessity of a market economy for the Louisiana Purchase, and a vision of a limited role for the federal government in economic affairs.