Laissez-faire is an economic system in which transactions between private parties are absent of any form of government intervention such as regulation, imperialism and subsidies. As a system of thought, laissez-faire rests on the following axioms: The individual is the basic unit in society; the individual has a natural right to freedom. The physical order of nature is a self-regulating system. Corporations are creatures of the state and therefore the citizens must watch them due to their propensity to disrupt the Smithian spontaneous order; these axioms constitute the basic elements of laissez-faire thought. Another basic principle holds that markets should be competitive, a rule that the early advocates of laissez-faire always emphasized. With the aims of maximizing freedom and of allowing markets to self-regulate, early advocates of laissez-faire proposed a impôt unique, a tax on land rent to replace all taxes that they saw as damaging welfare by penalizing production. Proponents of laissez-faire argue for a complete separation of government from the economic sector.

The phrase laissez-faire is part of a larger French phrase and translates to "let do", but in this context the phrase means to "let go". Laissez-faire capitalism started being practiced in the mid-18th century and was further popularized by Adam Smith's book The Wealth of Nations; the term laissez-faire originated in a meeting that took place around 1681 between powerful French Controller-General of Finances Jean-Baptiste Colbert and a group of French businessmen headed by M. Le Gendre; when the eager mercantilist minister asked how the French state could be of service to the merchants and help promote their commerce, Le Gendre replied simply: "Laissez-nous faire". The anecdote on the Colbert–Le Gendre meeting appeared in a 1751 article in the Journal économique, written by French minister and champion of free trade René de Voyer, Marquis d'Argenson—also the first known appearance of the term in print. Argenson himself had used the phrase earlier in his own diaries in a famous outburst: Laissez faire, telle devrait être la devise de toute puissance publique, depuis que le monde est civilisé.

Détestable principe que celui de ne vouloir grandir que par l'abaissement de nos voisins! Il n'y a que la méchanceté et la malignité du cœur de satisfaites dans ce principe, et l’intérêt y est opposé. Laissez faire, morbleu! Laissez faire!! Let go, which should be the motto of all public power, since the world was civilized. A detestable principle of those that want to enlarge but by the abasement of our neighbours. There is but the wicked and the malignant heart satisfied by this principle and interest is opposed. Let go, alas. Vincent de Gournay, a French Physiocrat and intendant of commerce in the 1750s, popularized the term laissez-faire as he adopted it from François Quesnay's writings on China. Quesnay coined the phrases laissez-faire and laissez-passer, laissez-faire being a translation of the Chinese term wu wei. Gournay ardently supported the removal of restrictions on trade and the deregulation of industry in France. Delighted with the Colbert–Le Gendre anecdote, he forged it into a larger maxim all his own: "Laissez faire et laissez passer".

His motto has been identified as the longer "Laissez faire et laissez passer, le monde va de lui même!". Although Gournay left no written tracts on his economic policy ideas, he had immense personal influence on his contemporaries, notably his fellow Physiocrats, who credit both the laissez-faire slogan and the doctrine to Gournay. Before d'Argenson or Gournay, P. S. de Boisguilbert had enunciated the phrase "On laisse faire la nature". D'Argenson himself during his life was better known for the similar, but less-celebrated motto "Pas trop gouverner". However, Gournay's use of the laissez-faire phrase as popularized by the Physiocrats gave it its cachet; the Physiocrats proclaimed laissez-faire in 18th-century France, placing it at the core of their economic principles and famous economists, beginning with Adam Smith, developed the idea. Indeed, it is with the Physiocrats and the classical political economy that the term laissez-faire is ordinarily associated; the book Laissez Faire and the General-Welfare State states: The physiocrats, reacting against the excessive mercantilist regulations of the France of their day, expressed a belief in a "natural order" or liberty under which individuals in following their selfish interests contributed to the general good.

Since, in their view, this natural order functioned without the aid of government, they advised the state to restrict itself to upholding the rights of private property and individual liberty, to removing all artificial barriers to trade, to abolishing all useless laws. The French phrase laissez-faire gained currency in English-speaking countries with the spread of Physiocratic literature in the late 18th century. George Whatley's 1774 Principles of Trade re-told the Colbert-LeGendre anecdote—this may mark the first appearance of the phrase in an English-language publication. Herbert Spencer was opposed to a different application of laissez faire—to "that miserable laissez-faire" that leads to men's ruin, saying: Along with that miserable laissez-faire which calmly looks on while men ruin themselves in trying to enforce by law their equitable claims, there goes activity in supplying them, at other men's cost, with gratis novel-

The Donut Hole

The Donut Hole is a bakery and landmark in La Puente, California. An example of programmatic architecture, the building is shaped like two giant donuts through which customers drive to place their orders; the bakery is one of the most photographed donut shops in the United States. The first Donut Hole opened in La Puente, California. According to one source, the shop in La Puente was the second to open, in 1968, was followed by three others. However, various sources disagree and date the building's original construction from 1947 to 1958 to 1962. What is certain is that the donut chain went out of business in 1979; the LaPuente donut hole was purchased by the Lopez family in 1979 and remained in the family until 2003. The Covina branch was remodeled and the others were demolished, only the La Puente location remains today as a working bakery, it is a local tradition for newlyweds to drive through the donuts. The building has been struck by cars several times in its history, most in 2004 when an out-of-control car crashed through one of the donut facades.

The building was featured in the movie Moving Violations. In the opening scenes of Dan Akroyd and Tom Hanks' 1987 classic Dragnet, the Donut Hole is shown. List of doughnut shops Randy's Donuts

Ikaho, Gunma

Ikaho was a town located in Kitagunma District, Gunma Prefecture, Japan. As of 2003, the town had an estimated population of 3,920 and a density of 175.63 persons per km². The total area was 22.32 km². On February 20, 2006, along with the villages of Komochi and Onogami, the villages of Akagi and Kitatachibana, was merged into the expanded city of Shibukawa. Situated on the slopes of Mount Haruna, an extinct volcano, Ikaho is well known for its hot springs. Ikaho is 2.5 hours from Shinjuku by express bus, can be enjoyed on a day trip from Tokyo Ikaho Onsen is one of Gunma’s 4 large onsen. This makes it one of the main onsen locations in Japan; the onsen locations are open during weekdays, from 09:00 AM to 06:00 PMIkaho Onsen has been called Kogane-no-Yu, but the waters used to be clear and colorless. However, due to the iron content, they turned dark brown when in contact with the air, they are known as Kodakara-no-Yu since they tend to be mild, warm the body from inside and are popular with women.

1889 - Ikaho town is created in Nishigunma District by the uniting of the villages of Ikaho and Yunakako. 1896 - Nishigunma District merges with Kataoka District and is renamed Gunma District. 1949 - Kitagunma District, including Ikaho town, separates from Gunma District. 1997 - Hilo, Hawaii becomes a sister city. February 20, 2006 - Ikaho, along with the villages of Komochi and Onogami, the villages of Akagi and Kitatachibana, was merged into the expanded city of Shibukawa. Mount Haruna Ikaho Hot Springs Mizusawa temple Yumeji Takehisa Memorial Museum Roka Tokutomi Memorial Literature Museum Art Museum The town of Ikaho serves as the location for the setting of the sports manga series Initial D. Ikaho Official Site Shibukawa Official Site