laissez-faire

Created: 2022-12-27
Status: #soil
Last Edited: 2022-12-27
Topic: economics

What is laissez-faire?

Laissez-faire is an economic system and an ideology that advocates minimal government intervention in the economy.

It is based on the belief that free markets can regulate themselves, with minimal regulation by the government.

The term “laissez-faire” comes from a French phrase meaning “let do” or “allow to do.” It is often used to describe a hands-off approach to economic policy, where the government does not interfere in business decisions or provide any kind of economic support or subsidies.

Laissez-faire economics is often associated with classical liberalism and libertarianism.