What economic philosophy suggests that a capitalist system, when free from taxation and government involvement, would be the most productive?

The economic philosophy that posits a capitalist system, free from taxation and government involvement, would be the most productive aligns with Supply-Side Economics. This approach emphasizes that reducing taxes and deregulating markets leads to increased investment, job creation, and overall economic growth. Proponents believe that when individuals and businesses retain more of their earnings, they are more likely to invest and spend, which stimulates the economy.

Supply-Side Economics focuses on the production side of the economy, asserting that policies should aim to enhance production capabilities rather than increase government spending. This ideology was particularly prominent during the Reagan administration, which aimed to boost economic growth through tax cuts and less government intervention.

Comparatively, the other options like Socialism and Keynesian Economics do not advocate for minimal government involvement and high levels of taxation as beneficial for productivity. Socialism typically involves more government control and redistribution. Keynesian Economics suggests that government intervention is necessary to manage economic cycles, especially during downturns. Therefore, Supply-Side Economics stands out as the philosophy that champions a hands-off approach to capitalism, emphasizing its potential for productivity without government interference.