Nama : Irwan Murdianto

NIM : 041187878

Tugas tutor 3 makul bahasa inggris niaga

Yes, I agree....

Laissez-Faire will never be relevant.

Until now it seems that there has never been any country in the world that has released its economy
100% and let the invisible hand work (there is no pure government interference in the economy).
The United States which is considered a super free country still uses the Fed rate to control inflation,
reportedly at the last meeting in July 2016 it was set at 0.25% -0.5%.

In addition, the late Adam also wanted the state to minimize taxes, because taxes are considered
only successful in raising the cost of living. Well, just imagine if this is used by our country. The tax
contribution is still the largest in the state budget.

In the years ahead, understanding laissez-faire or the like may never be achieved. Inevitably the
state is responsible for the national and international economic impacts. Just look at the Great
Depression in 1929 devastating the world economy, then the case of one country Subprime
Mortgage in 2008 namely the US undermined the economy to Indonesia. Laissez-Faire is never
relevant.

Most modern industrialist countries now do not represent laissez-faire in their principles or policies,
because they usually involve a large number of government interventions in the economy. These
interventions include minimum wages, corporate welfare, antitrust, nationalization, and social
welfare among other forms of government intervention. Subsidies for business and agriculture,
government ownership in several industries (usually in natural resources), regulation of market
competition, trade restrictions in the form of protective tariffs - import kuta - or internal regulations
that take advantage of the domestic industry, and other forms of government favor.