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Thread: Biggest trading scandal in the world?
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[quote=LEONARDO,268207]Actually, the laissez-faire economy has never prevailed since the implementation of Roosevolt's New Deal in 1930s. After the WWII, most capitalist countries placed strict control on the states' economy. The states' intervention and regulation assure the economy to run on the right track. laissez-faire economy encourages irrational competition, which often leads to the chaos of economy. The laissez-faire economy is only applicable in Adam Smith's time.[/quote]
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