One enduring theme of American economic history has been a continuous debate about when, and how extensively, government should intervene in business affairs. American history has seen the pendulum swing between laissez-faire principles and demands for government regulation. Liberals and conservatives alike have sought to reduce or eliminate some categories of economic regulation, both agreeing that the regulations wrongly protected companies from competition at the expense of consumers. Laissez-faire is the French term for "leave it alone". …
