Meaning and Examples of Laissez faire

Laissez faire refers to the economic policy of letting owners of industry and business set working conditions without interference. This policy favours a free market unregulated by the government. The term comes from a French phrase that means “let do”. ..

World History: Mercantilism

The Mercantilism theory states that there is a finite amount of wealth in the world and that it is in a nation’s best interest to accumulate this finite wealth. Since wealth is power, so by accumulating wealth, a nation can ..

World History: Industrial Revolution

Industrial Revolution began in England and soon spread to Continental Europe and North America. It roughly corresponds to a period between 1750 to 1860. The first major industry to taste the Industrial revolution was Textile Industry. However, it was the ..

World History: Unification of Germany

Germany was a ragbag of 314 states & 1474 estates i.e. total 1789 independent sovereign powers in the medieval times. These were held together by the absolute rule of the emperor and his troops. Here, the local patriotism was a ..

World History: Unification of Italy

Deciding the fate of the Italian regions, the Congress of Vienna (1815), the restored the pre-Napoleonic patchwork of independent governments, either directly ruled or strongly influenced by the prevailing European powers, particularly Austria. Thus, 5 main divisions restored and it ..

World History: Rise of Nationalism

From 1815 till 1848, several revolutions erupted in Europe. The Congress of Vienna had tried to restore the monarchies and territories that existed before the French Revolution. But in reality, the three forces were scrambling for power in Europe as ..

Central America & Mexican War of Independence

For centuries, the people of Europe were accustomed to monarchical rule while those of new world felt that there was little they could do, and they had nothing but to go along the European imperialist agenda. However, American and French ..

American Revolution

After the discovery of the American continent, there was a continuous migration of people from Europe to the New World. While the South America was colonized by Spain; the English and French established their colonies in North America. France and ..