Laissez faire: Laissez-faire economics is defined as a situation

Laissez-faire economics is defined as a situation with minimal government intervention. Under laissez-faire , governments and regulators ‘leave alone’ private firms to allow them to make decisions about production and output. In particular, laissez-faire involves zero / minimal government intervention on issues such as regulation, taxes and tariffs. Comparison between Laissez-Faire economics and social democracy 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. How to use laissez-faire in a sentence. Did you know? Laissez - faire is a French phrase meaning unwillingness to get involved in or influence other people's activities. It is also an economic theory or plan that favors free markets and minimal government intervention. Learn more about its meaning, usage and translations in different languages.