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Laissez-faire is a policy of minimum governmental interference in the economic affairs of individuals and society . The doctrine of laissez-faire is usually associated with the economists known as Physiocrats, who flourished in France from about 1756 to 1778. 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. Published Oct 25, 2023 Definition of Laissez-Faire Laissez-Faire is an economic and political ideology that advocates for minimal government interference in the economy. The term is French and translates to “let do” or “leave alone.” In a laissez-faire system, markets are allowed to operate freely without government regulations or interventions. Example To understand laissez-faire in practice, let’s consider the market for telecommunications. In a laissez-faire system ...
