During the second industrial revolution, the govern ment was considered laissez-faire because

During the Second Industrial Revolution the government was considered "laissez faire",   -expression from the french meaning to let things happen, to leave things alone; it is the doctrine that considers that everything is going to be well in economy if the markets and economy in general is not encumbered with regulations.-   This what better describes the situation during the Second Industrial Revolution.

nothing certain is known about what happened, but it seems that the country declined gradually, perhaps due to bad government, or, more likely, due to a series of bad harvests, which resulted in widespread and recurrent famine.