An economic system in which transactions between private parties are free from government interference such as regulations, privileges, tariffs, and subsidies is known as Laissez-faire Laissez-faire, Capitalism Capitalism, Socialism Socialism, Communism Communism,

Laissez-faire

Explanation:

Laissez-faire has its root word from french which conveys the idea of letting something occur without interference.

Indeed, it is an economic system in which transactions between private parties are free from government interference such as regulations, privileges, tariffs, and subsidies.

In summary, the basic idea of the Laissez-faire economic system is that there should be a complete separation of government from the economic sector.

- "a new era of american politics began with jackson's election in 1828, but it also completed a grand social experiment begun by the american revolution. nevertheless, jacksonian democracy represented a provocative blending of the best and worst qualities of american society."

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it was on the rise and doing very well and would continue to do well until the great depression from 1929-1939