Search results
Results from the WOW.Com Content Network
The meaning of LAISSEZ-FAIRE is a doctrine opposing governmental interference in economic affairs beyond the minimum necessary for the maintenance of peace and property rights. How to use laissez-faire in a sentence.
Laissez-faire (/ ˌ l ɛ s eɪ ˈ f ɛər / LESS-ay-FAIR; or / l ɑː ˌ s ɛ z ˈ f ɛ. j ə r /, from French: laissez faire [lɛse fɛːʁ] ⓘ, lit. ' let do ' ) is a type of economic system in which transactions between private groups of people are free from any form of economic interventionism (such as subsidies or regulations ).
Laissez-faire is an economic philosophy of free-market capitalism that opposes government intervention. The theory of laissez-faire was developed by the French Physiocrats during...
LAISSEZ-FAIRE definition: 1. unwillingness to get involved in or influence other people's activities: 2. If a government is…. Learn more.
Laissez-faire economics advocates for minimal government interference, relying on market forces. Adam Smith's notion of the "invisible hand" underpins this system, promoting self-regulated...
LAISSEZ-FAIRE meaning: 1. unwillingness to get involved in or influence other people's activities: 2. If a government is…. Learn more.
LAISSEZ-FAIRE, a French term that translates loosely as "let things alone," originated in the eighteenth century with a school of French economists, known as the Physiocrats, who opposed trade restrictions that supported older economic systems such as mercantilism.
Laissez-faire, which in French literally means ‘let it happen’ ‘allow to do’, is interpreted in economics as ‘let go’ or ‘let it be economics’. Laissez-faire is a free-market economic system of thought where the players are free to act without interference from the government.
Over the ensuing centuries, the economic policy that became known as "laissez-faire" (French for "leave it alone") has been embraced by free-market capitalists and demonized by progressive reformers. But rather than praise or bash the policy, let's explore the economic rationale behind laissez-faire and see how it really works in action.
Laissez-faire is a free-market economic theory that rejects involvement by the government. The French physiocrats of the 18th century established the laissez-faire idea. Laissez-faire proponents contend that government intervention in industry and markets impedes economic progress.