Dictionary

laissez–faire

noun lais·sez–faire \ˌle-ˌsā-ˈfer, ˌlā-, -ˌzā-\

economics : a policy that allows businesses to operate with very little interference from the government

Full Definition of LAISSEZ-FAIRE

1
:  a doctrine opposing governmental interference in economic affairs beyond the minimum necessary for the maintenance of peace and property rights
2
:  a philosophy or practice characterized by a usually deliberate abstention from direction or interference especially with individual freedom of choice and action
laissez–faire adjective

Origin of LAISSEZ-FAIRE

French laissez faire, imperative of laisser faire to let (people) do (as they choose)
First Known Use: 1825

Other Economics Terms

actuary, compound interest, globalization, indemnity, portfolio, rentier, stagflation, usurer

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May 25, 2015
callithump Hear it
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