Laissez-faire
Laissez-faire is short for "laissez faire, laissez passer," a French phrase meaning "let do, let pass." It is pronounced approximately lessEH fare, lessEH pahssEH.
Economic Theory
The laissez-faire school of economic thought holds a pure capitalist or free market view, that capitalism is best left to its own devices; that it will dispense with inefficiencies in a more deliberate and quick manner than any legislating body could. The basic idea is that less government interference in private economic decisions such as pricing, production, and distribution of goods and services makes for a better economy...
Related Topics:
Capitalist - Free market - Capitalism
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| ► | History |
| ► | See also |
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