by citypaintNbody March 23, 2011
it is the policy of non-interference. it is generally used by countries while dealing with each other.
by simple..... April 14, 2009
An economy or market with no regulation or restrictions on how the said market operates, thus allowing the most efficient allocation of a resources in an economy. The laissez-faire or 'market system' is the unplanned capitalist economic system. The extreme opposite is N.Korea, Cuba, China etc.
The 'passive' approach, or that of non-intervention to Macroeconomic management (as stated by harry flashman) is just one feature of the laissez-faire or market system.
by Diego December 7, 2003
by Brian A. January 19, 2007
(les-ey fair; Fr. le-sey fer)
1. the theory that government should intervene as little as possible in the direction of economic affairs.
2. As present in the U.S. as free-trade and capitalism
1. the theory that government should intervene as little as possible in the direction of economic affairs.
2. As present in the U.S. as free-trade and capitalism
by kdiz930 January 28, 2009
Fr. Either a term meaning a policy of non-interference in economics or meaning an indolent homosexual.
Pierre, an economic adviser to the finance minister was going to propose a laissez-faire approach to the recession but was such a laissez-faire that he never got around to it.
by harry flashman July 8, 2003