The French phrase laissez faire literally means “allow to do,” with the idea being “let people do as they choose.” The origins of laissez-faire are associated with the Physiocrats, a group of 18th-century French economists who believed that government policy should not interfere with the...
The laissez-faire theory mainly advocates government non-intervention. Economic theoristAdam Smithbelieved that the optimal functioning of markets needed minimal government intervention. However, Smith did raise concerns about the drawbacks of the theory, particularly in relation to the possibility of creati...
Laissez faire definition: the theory or system of government that upholds the autonomous character of the economic order, believing that government should intervene as little as possible in the direction of economic affairs.. See examples of LAISSEZ FAIR
Define laissez faire. laissez faire synonyms, laissez faire pronunciation, laissez faire translation, English dictionary definition of laissez faire. also lais·ser faire n. 1. An economic doctrine that opposes governmental regulation of or interference
Define Laissez Fair. Laissez Fair synonyms, Laissez Fair pronunciation, Laissez Fair translation, English dictionary definition of Laissez Fair. also lais·ser faire n. 1. An economic doctrine that opposes governmental regulation of or interference in co
Definition of laissez-faire noun in Oxford Advanced Learner's Dictionary. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more.
Britannica Dictionary definition of LAISSEZ–FAIRE always used before a noun [more laissez–faire; most laissez–faire] economics : favoring a policy that allows businesses to operate with very little interference from the government laissez-faire capitalism/economics — often used figuratively Sh...
The meaning of LAISSEZ-FAIREISM is the doctrine of laissez-faire. How to use laissez-faireism in a sentence.
lais•sez faire(les′ā fâr′;Fr.le sā fer′),USA pronunciation Foreign Terms, Governmentthe theory or system of government that upholds the autonomous character of the economic order, believing that government should intervene as little as possible in the direction of economic affairs. ...
laissez-faire inEconomics topic From Longman Dictionary of Contemporary Englishlais‧sez-faire,laisser-faire/ˌleseɪ ˈfeə, ˌleɪ-$-ˈfer/noun[uncountable]1theprinciplethat thegovernmentshouldallowtheeconomyorprivatebusinessestodevelopwithout anystatecontrolorinfluencethe policy of laissez-fai...